2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 18 - State of New York Municipal Bond Bank Agency Act › 2435-A - Special Program Agreements.

§  2435-a.  Special  program  agreements.  (1) In order to fulfill the
purposes of this title and to provide  a  means  by  which  the  special
program municipalities may (a) receive moneys to refund certain property
taxes  determined  to be in excess of state constitutional tax limits or
to reimburse the special program municipalities for the prior  refunding
of  such  taxes  or  (b)  receive  moneys  to  be applied to the cost of
settling litigation involving  the  city  school  districts  of  special
program  municipalities and the teachers' unions in such special program
municipalities, or (c)  receive  moneys  for  the  financing  of  public
improvements   to   be  applied  to  the  cost  of  the  reconstruction,
rehabilitation or renovation of an educational facility pursuant to  the
provisions  of subdivision (b) of section sixteen of chapter six hundred
five of the laws  of  two  thousand,  or  (d)  receive  moneys  for  the
financing  of public improvements to be applied to the cost of a project
for design,  reconstruction  or  rehabilitation  of  a  school  building
pursuant  to  the provisions of section fourteen of the city of Syracuse
and the board of education of the city school district of  the  city  of
Syracuse  cooperative  school  reconstruction act, or (e) receive moneys
for the financing of public improvements to be applied to the cost of  a
project  for  design,  reconstruction  or  rehabilitation  of  a  school
building, or the construction of a new school building, pursuant to  the
provisions  of  section twelve of the Yonkers city school district joint
schools construction and  modernization  act,  and  notwithstanding  any
general  or  special  law  to  the contrary, the agency and each special
program municipality are hereby authorized to enter  into  one  or  more
special  program  agreements,  which  special  program agreements shall,
consistent with the  provisions  of  this  title,  contain  such  terms,
provisions  and  conditions  as, in the judgment of the agency, shall be
necessary or desirable. Each special program agreement shall specify the
amount  to  be  made  available  to  the  respective   special   program
municipality  from the proceeds of an issue of special program bonds and
shall  require   such   special   program   municipality,   subject   to
appropriation  by  the  appropriate  legislative  body  of  such special
program municipality, to make payments to the agency in the amounts  and
at  the  times  determined  by the agency to be necessary to provide for
payment of such issue of special program  bonds  and  such  other  fees,
charges,  costs  and  other  amounts as the agency shall in its judgment
determine to be necessary or desirable.
(2) Any special program agreement entered into pursuant to subdivision
one of this section shall provide that the  obligation  of  the  special
program municipality executing such special program agreement to fund or
pay the amounts therein provided for shall not constitute a debt of such
special program municipality within the meaning of any constitutional or
statutory  provision and shall be deemed executory only to the extent of
moneys available and that no liability shall be incurred by such special
program municipality beyond the moneys available for  the  purpose,  and
that   such  obligation  is  subject  to  annual  appropriation  by  the
appropriate legislative body of such special program municipality.