reglab/statecodes huggingface dataset:
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 8-G* - Livingston County Water and Sewer Authority › 1199-KKKK*2 - Bonds Legal Investments for Fiduciaries.

* §  1199-kkkk.  Bonds legal investments for fiduciaries. The bonds of
  the authority are hereby made securities in which all  public  officials
  and  bodies of the state and all municipalities, all insurance companies
  and associations and other persons carrying on  an  insurance  business,
  all   banks,   bankers,  trust  companies,  savings  banks  and  savings
  associations,  including  savings  and  loan  associations,   investment
  companies  and  other  persons  carrying  on  a  banking  business,  and
  administrators, guardians, executors, trustees and other fiduciaries and
  all other persons whatsoever, who are now or may hereafter be authorized
  to invest in bonds or other obligations of the state, may  properly  and
  legally  invest funds including capital in their control or belonging to
  them. The bonds are also hereby made securities which may  be  deposited
  with  and may be received by all public officers and bodies of the state
  all municipalities for any purposes for which the deposit  of  bonds  or
  other obligations of the state is now or hereafter may be authorized.
* NB There are 2 § 1199-kkkk's
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 8-G* - Livingston County Water and Sewer Authority › 1199-LLLL*2 - Agreement With the State.

* §  1199-llll. Agreement with the state. The state does hereby pledge
  to and agree with the holders of  any  bonds  issued  by  the  authority
  pursuant to this title that the state will not alter or limit the rights
  hereby  vested  in  the  authority  to  purchase,  construct,  maintain,
  operate,  repair,  improve,  increase,  enlarge,  extend,   reconstruct,
  renovate,  rehabilitate or dispose of any water or sewer project, or any
  part or parts thereof, for which bonds of the authority shall have  been
  issued,  to  establish  and collect rates, rents, fees and other charges
  referred to in this title and to fulfill the terms of any agreement made
  with or for the benefit of the holders of the bonds or with  any  public
  corporation or person with reference to such project or part thereof, or
  in  any way impair the rights and remedies of the bondholders, until the
  bonds, together with the interest thereon,  including  interest  on  any
  unpaid   installments  of  interest,  and  all  costs  and  expenses  in
  connection with any action  or  proceeding  by  or  on  behalf  of  such
  holders,  are  fully  met and discharged. The authority is authorized to
  include this pledge and agreement of the state  in  any  agreement  with
  bondholders.
* NB There are 2 § 1199-llll's
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 8-G* - Livingston County Water and Sewer Authority › 1199-MMMM*2 - Exemption From Taxes, Assessments and Certain Fees; Payments in Lieu of Taxes.

* §  1199-mmmm.  Exemption  from  taxes, assessments and certain fees;
  payments in lieu of taxes. 1. It is hereby determined that the  creation
  of  the  authority  and the carrying out of its corporate purposes is in
  all respects for the benefit of the people of the county and  the  state
  and  is  a  public  purpose,  and  the  authority  shall  be regarded as
  performing a  governmental  function  in  the  exercise  of  the  powers
  conferred  upon  it  by  this title and shall not be required to pay any
  taxes, special ad valorem levies or special assessments  upon  any  real
  property  owned by it or any filing, recording or transfer fees or taxes
  in relation to instruments filed, recorded or transferred by  it  or  on
  its  behalf  provided, however, that any real property owned or acquired
  by the authority outside of the  district  shall  be  exempt  from  real
  property  taxes,  ad valorem levies or special assessments only pursuant
  to and to the extent provided by an agreement with the governing body of
  the municipality in which such real property is located.
2. The authority may pay,  or  may  enter  into  agreements  with  any
  municipality  not  located  within  the  county  to  pay,  a sum or sums
  annually or  otherwise  or  to  provide  other  considerations  to  such
  municipality  with  respect  to  real  property  owned  by the authority
  located within such municipality and constituting a part  of  its  water
  system.
3.  Any  bonds  issued pursuant to this title together with the income
  therefrom shall be exempt from taxation except for transfer  and  estate
  taxes. The revenues, moneys and all other property and all activities of
  the  authority  shall  be exempt from all taxes and governmental fees or
  charges, whether imposed by the state  or  any  municipality,  including
  without  limitation  real  estate taxes, franchise taxes, sales taxes or
  other excise taxes.
4. The state  hereby  covenants  with  the  purchasers  and  with  all
  subsequent  holders  and  transferees  of  bonds issued by the authority
  pursuant to this title,  in  consideration  of  the  acceptance  of  and
  payment  for  the bonds, that the bonds of the authority issued pursuant
  to this title and the income therefrom shall be exempt from taxation  as
  aforestated in subdivision three of this section, and that all revenues,
  moneys,  and  other property pledged to secure the payment of such bonds
  shall at all  times  be  free  from  taxation  as  aforestated  in  such
  subdivision.
* NB There are 2 § 1199-mmmm's
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 8-G* - Livingston County Water and Sewer Authority › 1199-PPPP - Construction and Purchase Contracts.

§  1199-pppp. Construction and purchase contracts. The authority shall
  let contracts for construction or purchase of  supplies,  materials,  or
  equipment  pursuant to sections one hundred one and one hundred three of
  the general municipal law and  shall  be  let  in  accordance  with  the
  provisions of state law pertaining to prevailing wages, labor standards,
  and  working  hours. Nothing in this section shall be construed to limit
  the power of the authority  to  do  any  construction  directly  by  the
  officers, agents and employees of the authority.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 8-G* - Livingston County Water and Sewer Authority › 1199-RRRR*2 - Equal Employment Opportunity.

* §  1199-rrrr.  Equal  employment  opportunity.  The  authority shall
  ensure that all employees or  applicants  for  employment  are  afforded
  equal employment opportunity without discrimination.
* NB There are 2 § 1199-rrrr's
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 8-G* - Livingston County Water and Sewer Authority › 1199-SSSS*2 - Audit and Annual Report.

* §  1199-ssss.  Audit  and  annual  report.  In  conformity  with the
  provisions of section five of  article  ten  of  the  constitution,  the
  accounts  of  the  authority  shall be subject to the supervision of the
  state  comptroller  and  an  annual  audit  shall  be  performed  by  an
  independent certified accountant. The authority shall annually submit to
  the  board  of  supervisors,  county  treasurer,  governor and the state
  comptroller and to the chairperson of the senate finance  committee  and
  the  chairperson  of  the  assembly  ways and means committee a detailed
  report pursuant to the provisions of section two thousand eight  hundred
  of this chapter, and a copy of such report shall be filed with the clerk
  of the board of supervisors and the county treasurer.
* NB There are 2 § 1199-ssss's
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 8-G* - Livingston County Water and Sewer Authority › 1199-TTTT*2 - Environmental Applications, Proceedings, Approvals and Permits.

* §  1199-tttt. Environmental applications, proceedings, approvals and
  permits. Any application in relation to the purposes of or  contemplated
  by  this title heretofore filed, or any proceeding heretofore commenced,
  by the county or  any  agency  thereof  with  the  state  department  of
  environmental  conservation,  the  department  of  transportation or any
  other  state  agency  or  instrumentality  or  with  the  United  States
  environmental   protection   agency  or  any  other  federal  agency  or
  instrumentality shall inure to and for the benefit of the  authority  to
  the  same  extent  and in the same manner as if the authority had been a
  party to such application or proceeding  from  its  inception,  and  the
  authority  shall be deemed a party thereto, to the extent not prohibited
  by any federal law. Any license, approval, permit or decision heretofore
  or hereafter issued or granted pursuant to or as a result  of  any  such
  application  or  proceeding shall inure to the benefit of and be binding
  upon the authority and shall be assigned and transferred by  the  county
  or  any  agency  thereof  to  the  authority, unless such assignment and
  transfer is prohibited by federal law.
* NB There are 2 § 1199-tttt's
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 8-G* - Livingston County Water and Sewer Authority › 1199-UUUU*2 - Limited Liability.

* §   1199-uuuu.   Limited  liability.  Neither  the  members  of  the
  authority, nor any municipality,  officer  or  employee  acting  in  its
  behalf,  while  acting  within  the  scope  of their authority, shall be
  subject to any  personal  liability  resulting  from  the  construction,
  maintenance  or  operation  of any of the properties of the authority or
  from carrying out any of the  powers  expressly  given  in  this  title;
  provided,  however,  that this section shall not be held to apply to any
  independent contractor.
* NB There are 2 § 1199-uuuu's
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 8-G* - Livingston County Water and Sewer Authority › 1199-VVVV*2 - Governmental Capacity of the Authority and Municipalities.

* §   1199-vvvv.   Governmental   capacity   of   the   authority  and
  municipalities. The authority, the county and the other  municipalities,
  in  carrying  out  their  respective powers and duties under this title,
  shall be deemed to be acting in  a  governmental  capacity  and  in  the
  performance of an essential governmental function.
* NB There are 2 § 1199-vvvv's
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 8-G* - Livingston County Water and Sewer Authority › 1199-WWWW*2 - Separability Clause.

* §   1199-wwww.  Separability  clause.  If  any  section,  clause  or
  provision in this title shall  be  held  by  a  competent  court  to  be
  unconstitutional  or ineffective in whole or in part, to the extent that
  it is not  unconstitutional  or  ineffective,  it  shall  be  valid  and
  effective,  and  no  other section, clause or provision shall on account
  thereof be deemed invalid or ineffective.
* NB There are 2 § 1199-wwww's
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 8-G* - Livingston County Water and Sewer Authority › 1199-XXXX*2 - Effect of Inconsistent Provisions.

* §  1199-xxxx.  Effect  of  inconsistent provisions. In so far as the
  provisions of this title are inconsistent with  the  provisions  of  any
  other  act,  general or special, or of any charter, local law, ordinance
  or resolution of any municipality, the provisions of this title shall be
  controlling.  Nothing  contained  in  this  section  shall  be  held  to
  supplement  or  otherwise  expand  the powers or duties of the authority
  otherwise set forth in this title. Except as specifically  provided  for
  in  this  title,  in the performance of any of its functions, powers and
  duties, the authority shall be subject  to  all  applicable  general  or
  special  laws  of  the  state,  the  county  charter, and any local law,
  ordinance or resolution of the county.
* NB There are 2 § 1199-xxxx's
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1202 - Purposes of the Authority.

§  1202.  Purposes of the authority.  1. The purposes of the authority
  shall be the acquisition of the transit facilities operated by the board
  of transportation of the city, the operation of  transit  facilities  in
  accordance  with  the  provisions  of this title for the convenience and
  safety of the public  on  a  basis  which  will  enable  the  operations
  thereof,  exclusive  of  capital  costs,  to be self-sustaining, and, in
  coordination with the  metropolitan  transportation  authority  and  the
  Triborough   bridge  and  tunnel  authority,  the  continuance,  further
  development  and  improvement  of  commuter  transportation  and   other
  services related thereto within the metropolitan commuter transportation
  district  and  the  development  and  implementation  of  a unified mass
  transportation policy for such district.
2. It is hereby found and declared  that  such  purposes  are  in  all
  respects  for the benefit of the people of the state of New York and the
  authority shall be regarded as performing  a  governmental  function  in
  carrying  out its corporate purpose and in exercising the powers granted
  by this title.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1203-B - Transfer of Funds.

§  1203-b.  Transfer  of  funds.  The  authority  and  its  subsidiary
  corporation,  the  Manhattan  and  Bronx   surface   transit   operating
  authority,  may  each  transfer  to  the  other  from  time to time such
  available funds as  they  may  jointly  determine  to  be  necessary  or
  desirable,  including  funds  accepted  by the authority pursuant to the
  provisions of section twelve hundred nineteen-a of this  title.  Subject
  to  the  rights  of the holders of any outstanding bonds, notes or other
  obligations of the authority, metropolitan transportation authority  and
  Triborough  bridge and tunnel authority, and to facilitate the efficient
  financial management of  the  authority,  its  subsidiary  corporations,
  metropolitan  transportation  authority and its subsidiary corporations,
  and Triborough bridge and tunnel authority (the "affiliated  entities"),
  the   authority   may,  and  shall  at  the  direction  of  metropolitan
  transportation authority, transfer revenues, subsidies and other  monies
  or  securities  to  one  or more funds or accounts of another affiliated
  entity for use by such other affiliated entity, provided at the time  of
  such   transfer  it  is  reasonably  anticipated  that  the  monies  and
  securities so  transferred  will  be  reimbursed,  repaid  or  otherwise
  provided  for  by  the  end  of  the  next  succeeding  calendar year if
  reimbursement or repayment is required by law or  by  any  agreement  to
  which  any  of the affected affiliated entities is subject. Any revenues
  of an affiliated entity  that  are  transferred  to  another  affiliated
  entity,  which  transfer  was not authorized by a provision of law other
  than this section, shall be considered to be required to  be  repaid  to
  the  affiliated  entity which was the source of such revenues by the end
  of the next succeeding calendar year following such transfer.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1204-C - Receipt of Line of Duty Pay.

§  1204-c.  Receipt  of  line of duty pay. 1. A member of the New York
  city transit authority police force in the rank of police officer  or  a
  member of such force who is detailed or designated as a detective or who
  holds  the position of sergeant or any position of higher rank, shall be
  entitled pursuant to this section to the  full  amount  of  his  or  her
  regular salary for the period of any incapacity due to illness or injury
  incurred  in  the  performance  and discharge of duty as a member of the
  force, as determined  by  the  authority,  only  in  the  event  that  a
  collective  bargaining  agreement  granting such entitlement pursuant to
  this section has been entered into by the authority  and  the  certified
  employee organization representing such member. The first entitlement of
  any  such  member of the New York city transit authority police force to
  the full amount of regular salary under this section shall  commence  on
  the  date  of execution of the collective bargaining agreement providing
  for such entitlement with respect to such member.
2. Nothing in this section shall be construed to  affect  the  rights,
  powers  and  duties  of the authority pursuant to any other provision of
  law, including, but not limited to, the right  to  discipline  a  police
  officer  by  termination,  reduction of salary, or any other appropriate
  measure; the power to terminate an appointee who has not  completed  his
  or  her  probationary  term;  and  the  power  to  apply for ordinary or
  accident disability retirement for a police officer.
3. Nothing in this section shall be construed to  require  payment  of
  salary  to  a member of the New York city transit authority police force
  who has been terminated, retired, suspended or otherwise separated  from
  service by reason of death, retirement or any other cause.
4.  A decision as to eligibility for benefits pursuant to this section
  shall not be binding on the medical board or the board  of  trustees  of
  any  pension  fund  in  the determination of eligibility for an accident
  disability or accidental death benefit.
5. As used in this  section  the  term  "incapacity"  shall  mean  the
  inability to perform full, limited, or restricted duty.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1204-D - Special Powers of the Authority.

§  1204-d. Special powers of the authority. 1. The authority may enter
  into a joint service arrangement with a bi-state agency,  the  state  of
  New Jersey, any state agency, authority, municipality or instrumentality
  of  the  state  of  New  Jersey,  the  federal government and any common
  carrier for the purpose of establishing bus transportation  between  the
  borough  of  Staten  Island  and locations in the state of New Jersey. A
  joint service arrangement between the authority and such entities  shall
  mean  an  agreement  or  agreements  relating  to  property,  buildings,
  structures,  facilities,  services,   rates,   classifications,   fares,
  divisions,  allowances,  charges, rules and regulations pertaining to or
  incidental to establishing and maintaining such bus transportation.
2. Any such joint service arrangement  shall  be  authorized  only  by
  resolution of the authority approved by not less than a majority vote of
  the  whole  number  of  members  of  the  board of the authority then in
  office, except that in the event of a tie vote the chairman  shall  cast
  one additional vote.
3.  All  general  powers of the authority shall be applicable to joint
  service arrangements.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1204-F - Subway Track Safety.

§   1204-f.   Subway   track   safety.  The  authority  shall  include
  instructions on how to react safely,  timely,  and  effectively  when  a
  person  falls  onto  the  subway  tracks  as  part of its ongoing safety
  education campaigns.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1205-A - Surrender of Power Plants.

§  1205-a.  Surrender  of  power  plants.  Notwithstanding  any  other
  provision of law, in the  event  the  authority  shall  surrender  power
  plants  to the city in connection with the sale thereof by the city to a
  third party, the city shall establish a fund out of the  purchase  price
  or  the  installments  of purchase price, from which it shall pay to the
  authority for a period of ten years the sum of five  million  dollars  a
  year  in  semi-annual  installments of two million five hundred thousand
  dollars each. The first such payment shall be made six months after  the
  date when possession of the power plants is transferred to the purchaser
  of  such  plants.  Such moneys shall be used by the authority to pay, in
  part, for the cost of electricity purchased by  the  authority  for  the
  operation of transit facilities.
Notwithstanding  the  foregoing provisions, the city may, from time to
  time, at the request of the authority, prepay to the authority  any  and
  all  of the remaining semi-annual installments due it as aforesaid, when
  the city and the authority have determined  that  such  prepayment  will
  serve  the financial needs of the authority. In the event that said fund
  is not sufficient for the prepayment of any such installments, then  the
  city  may make up any insufficiency through a budgetary appropriation or
  may issue serial bonds and notes, pursuant to the local finance law,  to
  finance  such  insufficiency.  The maximum period of probable usefulness
  for such object or purpose is hereby determined to be three years.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1206 - Omnibus Operations.

§  1206.  Omnibus operations. 1. The authority, as soon as practicable
  and not later  than  July  first,  nineteen  hundred  fifty-five,  shall
  prepare a plan for the sale and transfer of omnibus facilities under its
  jurisdiction  to private ownership. Any such plan shall provide that the
  proceeds of such sale and transfer shall be paid to the  city.  No  such
  plan  shall apply or relate to, or have any effect upon, any facilities,
  property or franchises, used and usable  in  the  operation  of  omnibus
  lines,  acquired by condemnation under subdivision two of section twenty
  or section twenty-d of the general city law.
2. The authority shall have power to take such action and execute such
  instruments as may be required  of  it  to  execute  such  plan  or  any
  modification thereof.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1206-A - Transit Construction Fund.

§  1206-a.  Transit  construction  fund.  In  addition  to  the powers
  provided elsewhere in this title, and to effectuate the purposes of  the
  transit construction fund act, constituting title nine-a of article five
  of  this  chapter,  the authority or any subsidiary may: (a) acquire and
  use any transit facility in accordance with the terms and conditions  of
  any  sublease or other agreement with the transit construction fund; (b)
  authorize the use by the  transit  construction  fund,  either  with  or
  without  compensation  to  the  authority,  of the agents, employees and
  facilities of the authority; (c) make  and  execute  contracts,  leases,
  subleases  and  all  other instruments or agreements deemed necessary or
  convenient including agreements  with  the  metropolitan  transportation
  authority  and  the  transit  construction  fund; and (d) do any and all
  other things deemed necessary or convenient.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1207 - Notes and Equipment Trusts.

§  1207.  Notes and equipment trusts. 1. The authority may issue notes
  in conformity with applicable provisions of the uniform commercial  code
  in  anticipation  of the receipt of revenues provided that the aggregate
  principal amount of such revenue anticipation notes outstanding  at  any
  time shall not exceed ten per cent of the average annual revenues of the
  authority.  All  such revenue anticipation notes shall mature within two
  years of the date of issue and an installment  or  installments  of  not
  less  than  fifty  per  cent of the principal amount of such notes shall
  mature in the first fiscal year succeeding the fiscal year in which such
  notes are issued. Such notes may be sold at public or private  sale  and
  the  city  shall  have  power  to purchase the same from any revenues or
  funds of the city other than moneys derived from borrowings.
2. The authority shall have power to purchase pursuant to  conditional
  sales  agreements  or equipment trust agreements, to lease and otherwise
  to acquire subject to a lien for the purchase price, such  equipment  as
  it  deems desirable including cars and rolling stock, electric and other
  motive power vehicles, automobiles, buses,  and  other  motor  vehicles,
  provided,  however,  that  the amount of liabilities which the authority
  may incur under this subdivision shall be governed  by  the  limitations
  contained  in paragraph b of subdivision one of section eighteen hundred
  three of this law and shall in no event exceed such sum of five  million
  dollars  in  any  one  fiscal  year  without  the approval of the mayor.
  Payment for  such  equipment,  or  rentals  therefor,  may  be  made  in
  installments  to a trustee in trust to secure payment of equipment trust
  certificates, and provision may be made that  title  to  such  equipment
  shall  not  vest in the authority until the equipment trust certificates
  are paid, or that such equipment shall be subject to a  lien  to  secure
  equipment  trust certificates. Any such agreements, leases and equipment
  trust  certificates  shall  contain  such  covenants,   conditions   and
  provisions  as  it deems necessary or desirable to insure payment of the
  equipment trust certificates.
3. The authority may also issue its promissory notes from time to time
  in conformity with applicable provisions of the uniform commercial  code
  for  the  purpose  of  raising  working  capital  to pay its expenses of
  operation. Such promissory notes shall be  general  obligations  of  the
  authority, may be secured or unsecured as the authority shall determine,
  subject to the prior rights, if any, of the holders of other obligations
  of  the  authority, shall mature not later than five years from the date
  of issue and shall at no time be  outstanding  in  an  unpaid  principal
  amount  in  excess of two hundred million dollars. Such promissory notes
  may be sold at public or private sale.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1207-A - Purchase of Cars by the Authority and Disposition Thereof.

§  1207-a.  Purchase of cars by the authority and disposition thereof.
  1. Notwithstanding the provisions of  sections  twelve  hundred  through
  twelve  hundred  twenty-one,  inclusive,  of  this title or of any other
  provisions of law to the contrary, but  subject  to  the  provisions  of
  section  twelve  hundred seven-j of this title, the authority shall have
  power to purchase no more than seven hundred twenty-four  cars  for  the
  rapid  transit  lines  under  the  jurisdiction  of the authority and to
  finance the purchase price thereof by the issuance of bonds and notes of
  the authority in  accordance  with  the  provisions  of  section  twelve
  hundred seven-b of this title. Any purchase contract for the purchase of
  such  cars  shall  be  made  by  the  authority only upon public letting
  founded  on  sealed  bids  in  accordance  with  the   requirements   of
  subdivision two of section twelve hundred nine of this title.
2.   Title  to  all  cars  purchased  by  the  authority  pursuant  to
  subdivision one of this section shall vest in the  authority;  provided,
  that,  subject to such agreements with the holders of bonds and notes of
  the authority as may then exist, the authority may  from  time  to  time
  sell at negotiated sale and transfer to the city, for such consideration
  as the authority shall determine and approve, any or all of such cars so
  purchased  by  the  authority  as  provided  in  section  twelve hundred
  seven-k.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1207-C - Required Redemption of Bonds.

§  1207-c.  Required  redemption  of  bonds.  Notwithstanding  and  in
  addition to any provisions for the redemption  of  bonds  which  may  be
  contained in any contract with the holders of bonds, either the state of
  New  York  or  the  city may, upon furnishing sufficient funds therefor,
  require the authority to redeem as a whole any issue of the bonds at the
  time or times and at the place or places  and  in  accordance  with  the
  terms upon which such bonds are redeemable.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1207-D - Agreement of the State.

§  1207-d.  Agreement  of the state. The state of New York does hereby
  pledge to and agree with the holders of  the  bonds  and  notes  of  the
  authority  that  the state will not limit or alter the rights and powers
  hereby vested in the authority by this title to fulfill the terms of any
  contract made by the authority with such holders or in  any  way  impair
  the  rights  and  remedies  of  such holders until such bonds and notes,
  together with interest thereon, with interest on any unpaid installments
  of interest, and all costs and expenses in connection with any action or
  proceedings by  or  on  behalf  of  such  holders,  are  fully  met  and
  discharged.  The  authority  is  authorized  to  include this pledge and
  agreement of the state in any contract with  the  holders  of  bonds  or
  notes.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1207-E - State and City Not Liable on Bonds or Notes.

§  1207-e.  State and city not liable on bonds or notes. The bonds and
  notes of the authority shall not be a debt of the state of New  York  or
  the  city,  and  neither the state nor the city shall be liable thereon,
  nor shall they be payable out of any  funds  other  than  those  of  the
  authority.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1207-F - Bonds and Notes Legal Investments for Fiduciaries.

§  1207-f.  Bonds  and  notes legal investments for fiduciaries.   The
  bonds and notes of the authority are hereby made securities in which all
  public officers and bodies of this  state  and  all  municipalities  and
  municipal  subdivisions,  all  insurance  companies and associations and
  other persons carrying on an insurance  business,  all  banks,  bankers,
  trust  companies,  savings  banks  and  savings  associations, including
  savings  and  loan  associations,  building   and   loan   associations,
  investment  companies  and other persons carrying on a banking business,
  all   administrators,   guardians,   executors,   trustees   and   other
  fiduciaries,  and  all  other  persons  whatsoever  who  are  now or may
  hereafter be authorized to invest in bonds or other obligations  of  the
  state,  may properly and legally invest funds including capital in their
  control or belonging to them. Notwithstanding any  other  provisions  of
  law,  the  bonds  and  notes  of  the  authority  are  also  hereby made
  securities which may be deposited with and  shall  be  received  by  all
  public  officers  and  bodies  of  this state and all municipalities and
  municipal subdivisions for any purpose for which the deposit of bonds or
  other obligations of this state is now or may hereafter be authorized.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1207-G - Exemptions From Taxation.

§  1207-g. Exemptions from taxation. 1. It is hereby found, determined
  and declared that the authority and the carrying out  of  its  corporate
  purposes  is  in all respects for the benefit of the people of the state
  of  New  York,  and  the  authority  will  be  performing  an  essential
  governmental  function  in  the exercise of the powers conferred by this
  title, and the state of New York covenants with the purchasers and  with
  all  subsequent  holders  and  transferees  of  bonds  and  notes of the
  authority issued  pursuant  to  this  title,  in  consideration  of  the
  acceptance of any payments for such bonds and notes, that such bonds and
  notes  of  the  authority  issued  pursuant to this title and the income
  therefrom, and all moneys, funds, fares and other  revenues  pledged  to
  pay or secure the payment of such bonds and notes, shall at all times be
  free  from taxation except for estate taxes and taxes on transfers by or
  in contemplation of death.
2. Nothing herein shall be construed to repeal or  supersede  any  tax
  exemptions heretofore or hereafter granted by general or other laws.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1207-I - Rates of Fare While Bonds, Notes and Other Obligations Are Outstanding.

§  1207-i.  Rates of fare while bonds, notes and other obligations are
  outstanding. Notwithstanding the provisions of  section  twelve  hundred
  five  of  this title or the provisions of any other law to the contrary,
  so long as the authority shall have outstanding and unpaid bonds,  notes
  or  other  obligations issued pursuant to section twelve hundred seven-b
  of  this  title,  or  the  metropolitan  transportation   authority   or
  Triborough bridge and tunnel authority shall have outstanding and unpaid
  bonds,  notes  or other obligations secured by or payable from, in whole
  or in part, the revenues, assets or other monies of the authority or its
  subsidiary corporations, the authority shall have the power at all times
  to fix or adjust the rate or rates of fare to be charged for the use  of
  any  transit  facility operated by the authority as may, in the judgment
  of the board, be necessary to produce sufficient revenues to pay, as the
  same shall become due, the principal of  and  interest  on  such  bonds,
  notes   and   other   obligations   of   the   authority,   metropolitan
  transportation authority and Triborough  bridge  and  tunnel  authority,
  together  with  the maintenance of proper reserves therefor, in addition
  to paying as the same shall become due the expenses of operation of  the
  authority.  The  authority,  metropolitan  transportation  authority and
  Triborough bridge and tunnel authority, shall be authorized to  contract
  with  the holders of such bonds notes and other obligations with respect
  to the exercise of the power authorized by this section. In  furtherance
  of  the  mandate of the metropolitan transportation authority to develop
  and implement a unified mass transportation policy for the  metropolitan
  commuter  transportation  district  and  the  exercise  of  its  powers,
  including the power to issue notes, bonds and other obligations  secured
  in  whole  or  in  part  by  the  revenues  of  the  authority  and  its
  subsidiaries,   metropolitan   transportation    authority    and    its
  subsidiaries,  and  the  Triborough  bridge  and  tunnel  authority, the
  authority shall join with the metropolitan transportation  authority  in
  connection  with the establishment, levy and collection of fares, tolls,
  rentals, rates,  charges  and  other  fees  for  the  transportation  of
  passengers  on  any  transit  facilities  operated  by authority and its
  subsidiaries, including any changes thereto.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1207-J - Limitation on the Exercise of Powers by Authority and Lease Renewal.

§  1207-j. Limitation on the exercise of powers by authority and lease
  renewal. 1. The powers granted  and  conferred  upon  the  authority  by
  section  twelve  hundred  seven-a of this title to purchase cars for the
  rapid transit lines of the authority,  and  by  section  twelve  hundred
  seven-b  of  this title to issue bonds and notes of the authority, shall
  not be exercised by the authority unless and until the authority and the
  city shall have entered into an agreement for the renewal and  extension
  of  the  existing agreement of lease between the city and the authority,
  dated June first, nineteen hundred fifty-three, for a term of years. Any
  such renewal agreement  may  contain  such  revisions  of  the  existing
  agreement  and  such  additional  terms and conditions, not inconsistent
  with law, as may be approved by the city and the authority.
2. The city, by resolution of the board of estimate or by  instruments
  authorized  by such resolution, and the authority shall be authorized to
  enter into an agreement for the renewal and extension  of  the  existing
  agreement  of  lease between the city and the authority for such term of
  years as shall be agreed upon and in  any  such  renewal  and  extension
  agreement  the authority may agree to such limitations upon the exercise
  of the powers conferred upon  it  by  sections  twelve  hundred  seven-a
  through  twelve  hundred  seven-i,  inclusive,  as  the authority in its
  discretion shall approve.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1207-K - Purchase, Financing and Lease of Cars and Rolling Stock by City.

§  1207-k.  Purchase, financing and lease of cars and rolling stock by
  city. 1. Notwithstanding the provisions of any other law, the  city  may
  purchase  from  the  authority,  by  negotiation and without competitive
  bidding, from time to time, all or any part of the cars acquired by  the
  authority  pursuant to section twelve hundred seven-a of this title, and
  to pay therefor such price or prices as shall be agreed upon by the city
  and the authority  provided,  however,  that  such  funds  paid  to  the
  authority  by  the  city  shall  be  used  only for the reimbursement of
  principal and interest on the bonds and notes issued by the authority to
  finance the cost of such cars.
2. Serial bonds and notes may be issued by the city, pursuant  to  the
  local  finance  law,  to finance the cost of all cars purchased from the
  authority pursuant to subdivision  one  of  this  section.  The  maximum
  period  of  probable  usefulness  of  such  object  or purpose is hereby
  determined to be twenty-five years.
3. All cars purchased by the  city  from  the  authority  pursuant  to
  subdivision  one  of  this  section  may  be  leased  by the city to the
  authority under the then existing agreement of lease.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1207-L - Inconsistent Provisions of Other Acts Superseded.

§ 1207-l. Inconsistent provisions of other acts superseded. Insofar as
  the  provisions of section twelve hundred seven-a through twelve hundred
  seven-k, inclusive, are inconsistent with any other provisions  of  this
  title  or  of  any other act, general or special, or of any local law of
  the city, the provisions of  sections  twelve  hundred  seven-a  through
  twelve hundred seven-k, inclusive, shall be controlling.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1208 - Revenue and Accounts.

§  1208.  Revenue  and  accounts. 1. The authority shall establish and
  maintain a system of accounts to show at  all  times  the  cost  of  the
  several  classes  of property used in operation and the sources of funds
  used in the  acquisition  of  such  property;  the  several  classes  of
  operating  revenue and other income; maintenance expenses, interest, and
  all other charges. To  the  extent  consistent  with  this  title,  such
  accounts shall be kept in accordance with the appropriate uniform system
  of  accounts  prescribed  by  the public service commission and shall be
  published monthly in the city record.
2. The moneys of the authority shall be deposited daily in banks to be
  designated by the authority. Deposits may be secured by  obligations  of
  or  guaranteed  by  the  United  States,  the  state,  or  any municipal
  corporation of the state or in such other manner as  the  authority  may
  provide,  and  all banks and trust companies are authorized to give such
  security for such deposits. The comptroller shall have  the  power  from
  time  to  time,  to examine the accounts, books and any other records or
  papers relating to the  financial  condition  of  the  authority,  which
  examination  shall not preclude examination of such matters by any other
  authorized officer or body.
3. Payments or withdrawals of moneys of the authority shall be made by
  checks drawn and signed by a member or an officer of the authority, duly
  authorized by resolution of the board.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1211 - Members and Employees Not to Be Interested in Contracts.

§  1211.  Members and employees not to be interested in contracts.  It
  shall be a misdemeanor for  any  member,  officer  or  employee  of  the
  authority to be in any way or manner interested, directly or indirectly,
  in any contract made by the authority.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1212-A - Security by Authority.

§  1212-a. Security by authority. 1. Each provision of statute or rule
  requiring a party to give security for the purpose of procuring an order
  of arrest, an injunction order, or a warrant  of  attachment,  or  as  a
  condition  of  obtaining  any other relief, or taking any proceeding; or
  allowing the court or a judge to require such security to be  given,  is
  to  be construed as excluding an action brought by the authority; except
  where the security to be given in such an action is specially  regulated
  by the provision in question.
2.  In  any  action in which the authority shall be excused by statute
  from giving security on procuring  an  order  of  arrest,  an  order  of
  injunction or a warrant of attachment, the authority shall be liable for
  all  damages  that  may  be sustained by the opposite party by reason of
  such order of arrest, attachment or injunction, in the same case and  to
  the same extent as sureties to an undertaking would have been if such an
  undertaking had been given.
3. Upon an appeal taken by the authority, the service of the notice of
  appeal  perfects  the  appeal and stays the execution of the judgment or
  order appealed from, without an undertaking or other security.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1214 - Rapid Transit Law.

§ 1214. Rapid transit law. During any period when the transfer, or any
  renewal  thereof,  authorized  by section eighteen hundred three of this
  title shall be in effect: 1. Articles five and eight and  sections  ten,
  eleven,   twelve,   thirteen,   fourteen,  fifteen,  seventeen,  thirty,
  thirty-two, thirty-six, thirty-six-a, thirty-seven, and thirty-eight  of
  the rapid transit law shall be suspended.
2.  Articles  one,  three,  six,  seven and nine and sections sixteen,
  sixteen-a, thirty-one, thirty-three, thirty-four and thirty-five of  the
  rapid  transit  law shall continue in force and effect and the authority
  shall have and exercise all the functions, powers and duties  heretofore
  exercised  by  the  board  of transportation, or any members or officers
  thereof, under such articles and sections, provided, however, that where
  the provisions of this title shall  be  inconsistent  with  any  of  the
  provisions  of  such articles or sections of such law, the provisions of
  this title shall govern and control.
2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 9 - New York City Transit Authority › 1215 - Construction of Terms.

§  1215.    Construction  of terms.   Whenever the term public service
  commission, or board of rapid transit railroad commissioners, or transit
  construction  commissioner,  or   transit   commission   or   board   of
  transportation,  occurs  in  any  law,  contract or document relating to
  facilities conveyed to the authority or their  operation  or  any  other
  duty  imposed  upon the authority pursuant to this title, or when in any
  law, contract or document reference is made to such  commission,  board,
  commissioner,  or  board  of  transportation  in  connection  with  such
  facilities, operations or duties whereof was so conveyed, such  term  or
  reference  shall be deemed to refer to and include the authority, to the
  extent consistent with the provisions of such law, contract or document.
  For the purposes of subdivision four of section fifty  of  the  workers'
  compensation  law,  the  term  other  political subdivision of the state
  shall be deemed to refer to and include the authority.  For the purposes
  of section three hundred twenty-one of the vehicle and traffic law,  the
  term  any  political subdivision shall be deemed to refer to and include
  the authority. For the purposes of subparagraph (i) of  paragraph  three
  of subsection (c) of section six hundred twelve of the tax law, the term
  subdivisions, referring to subdivisions of the state, shall be deemed to
  refer  to  and  include  the  Manhattan and Bronx surface transportation
  authority.