reglab/statecodes huggingface dataset:
2023 New York Laws › PBA - Public Authorities › Article 10 - New York State Municipal Assistance Corporation Act › Title 4 - Municipal Assistance Corporation for the City of Troy › 3051 - Legislative Findings and Statement of Purposes.

§   3051.   Legislative   findings  and  statement  of  purposes.  The
  legislature hereby finds  and  declares  that  it  is  necessary  for  a
  municipal  assistance  corporation  to  be created to assist the city of
  Troy  in  providing  essential  services  to  its  inhabitants   without
  interruption and in creating investor confidence in the soundness of the
  obligations  of  such city so that it may retain its ability to sell its
  obligations to the public.
The legislature further finds that it is in the interest of the  state
  of  New  York  and the city of Troy that certain capital programs of the
  city of Troy be funded, and certain cumulative deficits of the  city  of
  Troy  be  liquidated,  with  the proceeds of debt obligations, including
  securities of the municipal assistance corporation for the city of Troy.
2023 New York Laws › PBA - Public Authorities › Article 10 - New York State Municipal Assistance Corporation Act › Title 4 - Municipal Assistance Corporation for the City of Troy › 3052 - Definitions.

§  3052.  Definitions.  As used in this title, the following words and
  terms shall  have  the  following  meanings  unless  the  context  shall
  indicate another or different meaning or intent:
1. "Corporation"  means  the  corporate governmental agency created by
  section three thousand fifty-three of this title.
2. "City" means the city of Troy.
3. "Chief executive officer" means the chief executive officer of  the
  city  as  defined  in  subdivision  five-a  of section 2.00 of the local
  finance law.
4. "City comptroller" means the comptroller of the city of Troy.
5. "Short-term obligations"  means  tax  anticipation  notes,  revenue
  anticipation  notes,  bond  anticipation  notes,  budget notes and urban
  renewal notes.
6. "Bond or note facility"  means  any  insurance  policy,  letter  of
  credit or other credit enhancement with respect to bonds or notes of the
  corporation issued pursuant to this title.
2023 New York Laws › PBA - Public Authorities › Article 10 - New York State Municipal Assistance Corporation Act › Title 4 - Municipal Assistance Corporation for the City of Troy › 3054 - Administration of the Corporation.

§  3054.  Administration  of the corporation. The corporation shall be
  administered by a board of directors,  consisting  of  seven  directors,
  none of whom shall be officers or employees of the federal government or
  of  the  state  or political subdivisions thereof. Five of the directors
  shall be appointed by the  governor.  One  of  the  directors  shall  be
  appointed  by the majority leader of the senate and one of the directors
  shall be appointed by the speaker of the assembly. Each of  the  members
  of  the  board of directors shall serve at the pleasure of the appointed
  official. Directors of the  corporation  may  also  be  members  of  the
  supervisory  board  created for the city of Troy pursuant to section ten
  of chapter seven hundred twenty-one of  the  laws  of  nineteen  hundred
  ninety-four,  as  amended  from time to time. The corporation shall have
  the power to make and execute contracts to pay the expenses of operation
  of the supervisory board for the city of Troy, within the  appropriation
  available therefor.
2023 New York Laws › PBA - Public Authorities › Article 10 - New York State Municipal Assistance Corporation Act › Title 4 - Municipal Assistance Corporation for the City of Troy › 3059 - Review by the Corporation.

§  3059.  Review by the corporation. In order to determine whether the
  city has taken or  is  taking  action  to  effect  compliance  with  any
  conditions  imposed  pursuant  to  section three thousand fifty-eight of
  this title, the corporation may from time to time conduct  a  review  of
  the   records,  accounts,  budgets,  forecasts,  projections  and  other
  relevant materials of the city. The corporation may conduct such  review
  by  using  (i)  its  own  employees,  (ii) it agents, or (iii) any state
  employees provided to the corporation for such purposes. The city  shall
  make  available for such review all books and records, and shall furnish
  copies of all financial  statements,  budgets,  forecasts,  projections,
  information  or  corrective  action taken by the city in response to any
  notices  from  the  corporation  and  all  information  related  to  the
  foregoing, as requested by the persons conducting such review, and shall
  make  its  officers  and  employees  available  to  and  shall otherwise
  cooperate with such persons to permit such review  to  be  completed  as
  promptly as possible.
2023 New York Laws › PBA - Public Authorities › Article 10 - New York State Municipal Assistance Corporation Act › Title 4 - Municipal Assistance Corporation for the City of Troy › 3060 - Remedies of the Corporation.

§  3060.  Remedies  of the corporation. 1. The corporation shall cause
  each proposed budget, including related revenue estimates, submitted  to
  it pursuant to subdivision four of section three thousand fifty-eight of
  this  title,  and each proposed modification furnished to it pursuant to
  subdivision  four  of  such  section  and  each  expenditure  plan   and
  operations  report  submitted  to it pursuant to subdivision six of such
  section, to be reviewed promptly by the corporation's staff or designee.
2. If, within forty-five days after such receipt of proposed  budgets,
  or,  if within fifty days after such receipt of a proposed modification,
  the board of directors shall, in its judgement, determine that any  such
  budgets  will  not  be  balanced  in  accordance  with the provisions of
  subdivision five of section three thousand fifty-eight  of  this  title,
  either  by its terms or because revenue is overestimated or expenditures
  are underestimated therein, or that a report  of  proposed  modification
  pursuant  to  subdivision  five of section three thousand fifty-eight of
  this title reflects that the budgets would thereafter not be balanced in
  accordance with the provisions of  subdivision  four  of  section  three
  thousand fifty-eight of this title, or that a condition imposed pursuant
  to  such  section  has  not been met or will not be met, with respect to
  such fiscal year, then the corporation shall promptly notify  the  chief
  executive  officer  of  such determination and shall review with him the
  manner in which corrective action may be taken in order to  comply  with
  such conditions.
3.  In  the  event  that  the board of directors determines, following
  review with the chief executive officer pursuant to subdivision  two  of
  this  section  that  the corrective action necessary to cause compliance
  with the conditions of section three thousand fifty-eight of this  title
  will  not  be taken, or determines as a result of a review made pursuant
  to section three thousand fifty-nine of this title or otherwise that the
  city is not in compliance with any of the conditions imposed pursuant to
  section  three  thousand  fifty-eight  of  this  title   or   that   any
  representation  or  undertaking  contained  in any certificate delivered
  pursuant to such  section  is  materially  incorrect  or  has  not  been
  complied  with  in all material respects, the corporation shall promptly
  certify a copy of such determination of noncompliance to  the  governor,
  the legislature, the state comptroller, the chief executive officer, the
  city   council   and  the  city  comptroller  and  shall  disclose  such
  determination to the public.
4. The remedies described in this section are not  exclusive  and,  in
  addition  thereto, the corporation shall have and may exercise all other
  rights and remedies provided by law.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 1 - New York State Science and Technology Foundation › 3101 - Purposes of the Corporation.

§  3101.  Purposes of the corporation. The purposes of the corporation
  shall be to encourage and promote:
1. Scientific and technological education in the state; and
2. Basic and applied research and development in the state.
3. The development of new commercial products and the  fabrication  of
  such products in the state.
The  corporation shall encourage and promote cooperative efforts among
  government, the private sector, and universities  and  colleges  in  the
  state, for these purposes.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 1 - New York State Science and Technology Foundation › 3102-F - Science and Technology Law Center.

§  3102-f. Science and technology law center. 1. The foundation shall,
subject to available appropriations, issue a request  for  proposals  to
New York law schools to establish the science and technology law center.
2.  The  science and technology law center will advise the foundation,
centers for advanced technology and other academic institutions  on  all
technology-related  legal  issues, and provide any other services deemed
necessary by the foundation, including but not limited to:
(a)  conducting  research  on  legislation,  regulations   and   legal
decisions  that  impact  the  flow  of  technology transfer and academic
research;
(b) working  with  the  centers  for  advanced  technology  and  other
academic institutions to provide appropriate assistance;
(c) working directly with startup and early stage technology companies
outside of institutional settings;
(d)  working  with the centers in creating and hosting venture capital
fairs;
(e) managing the functions of the technology commercialization  clinic
program  as  established pursuant to section thirty-one hundred two-g of
this article.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 1 - New York State Science and Technology Foundation › 3102-G - Technology Commercialization Clinic Program.

§  3102-g. Technology commercialization clinic program. The foundation
shall establish a technology  commercialization  clinic  program  to  be
managed  by  the  science  and technology law center for the purposes of
assisting  New  York  universities,  entrepreneurs  and   companies   in
commercializing new products or processes.
1.  Entities  eligible  to  operate the program shall be competitively
selected  by  the  foundation  and  shall  include  business,  law   and
engineering  schools,  and  other academic research entities, located at
colleges and universities in the state.
2. Activities under  this  program  shall  be  conducted  by  students
supervised  by  appropriate  faculty  and  university administrators and
shall include but not be limited to the following:
(a) engaging in faculty-supervised projects specializing  in  research
and  analysis  of the commercial development of early-stage technologies
on behalf of New York universities and companies;
(b) providing research  and  analysis  of  the  technical,  marketing,
intellectual  property,  and  legal  issues  related  to  the commercial
development of new technologies on behalf of New York  universities  and
companies;
(c)  collaborating  with  other  technology  commercialization  clinic
programs   to   develop   best   practices   to    support    technology
commercialization in New York.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 1 - New York State Science and Technology Foundation › 3104 - State Not Liable for Obligations.

§  3104.  State  not  liable  for  obligations.  No  obligation of the
  corporation shall be a debt of the state, and the corporation shall have
  no power to make its obligations payable out of any property  or  moneys
  except those of the corporation.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 1 - New York State Science and Technology Foundation › 3105 - Public Purpose of the Corporation.

§  3105. Public purpose of the corporation. The corporation is created
  and shall be operated  exclusively  for  public  purposes  and  not  for
  pecuniary  profit.  No part of the net earnings of the corporation shall
  inure to the benefit of any private individual.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 1 - New York State Science and Technology Foundation › 3105-A - Roster of Retired Scientists, Engineers and Other Experts.

§ 3105-a. Roster of retired scientists, engineers and other experts.
1.  The  corporation  shall  establish a roster of retired scientists,
  engineers and other experts who  are  willing  to  volunteer  to  assist
  small,  emerging  technology oriented businesses in reviewing, analyzing
  and assisting in technological and organizational problems.
2. The roster of retired scientists, engineers and other experts shall
  be composed of retired persons with scientific research and  development
  expertise  or  such  relevant  managerial experience as may be useful to
  emerging business.
3. The corporation shall make the establishment of the roster known to
  such retired scientists, engineers and other experts who may be  willing
  to  volunteer  their services, and solicit their assistance on behalf of
  emerging businesses that request assistance from such persons.
4. The corporation shall make the  names  and  accompanying  areas  of
  expertise  known to inventors and small and emerging technology oriented
  businessmen for the purpose of gaining from the advice and expertise  of
  such retired volunteers.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 1 - New York State Science and Technology Foundation › 3106 - Contributions to the Corporation.

§   3106.   Contributions  to  the  corporation.  Notwithstanding  the
  provisions of any general or  special  law  or  the  provisions  of  any
  certificate of incorporation, charter or other articles of organization,
  any  corporation,  association  or  person  is hereby authorized to make
  contributions to the corporation.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 1 - New York State Science and Technology Foundation › 3110 - Actions.

§  3110.  Actions.  Except  in an action for wrongful death, an action
  against the authority founded on tort shall not be commenced  more  than
  one  year  and ninety days after the cause of action therefor shall have
  accrued, nor unless a notice of claim shall  have  been  served  on  the
  authority  within  the  time  limited by, and in compliance with all the
  requirements of section fifty-e of the general municipal law. An  action
  against   the  authority  for  wrongful  death  shall  be  commenced  in
  accordance with the notice of claim and time  limitation  provisions  of
  title eleven of article nine of this chapter.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 2 - New York State Foundation for Science, Technology and Innovation › 3150 - Definitions.

§ 3150. Definitions. As used in this section:
1.  "Foundation" shall mean the New York state foundation for science,
  technology and innovation created by this title;
2. "Executive director" shall  mean  the  executive  director  of  the
  foundation;
3.  "Board"  shall  mean  the  New  York state foundation for science,
  technology and innovation board;
4. "Regional partnerships" shall mean any association or  group  which
  is:    (a)  comprised  of local economic development organizations and a
  center of excellence as defined by section three of part  T  of  chapter
  eighty-four  of  the laws of two thousand two, or in the absence of such
  center in the region, at  least  one  institution  of  higher  education
  involved  in  commercialization  efforts  similar  to  such  centers  of
  excellence and may include a combination of private businesses, business
  support organizations, commercial lending institutions, venture  capital
  companies,  angel  investor  networks or foundations; (b) formed for the
  creation and administration of regional partnership  programs;  and  (c)
  certified by the foundation as the regional partnership;
5.   "Regional   partnership   coordinator"  shall  mean  a  nonprofit
  organization chosen by a  regional  partnership  and  certified  by  the
  foundation to administer the regional partnership programs;
6. "Partnership" shall mean regional partnerships; and
7. "Coordinator" shall mean regional partnership coordinator.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 2 - New York State Foundation for Science, Technology and Innovation › 3156 - Transfer of Powers.

§  3156. Transfer of powers. The functions and powers possessed by and
  all of the obligations and duties  of  the  New  York  state  office  of
  science,  technology  and  academic  research as established pursuant to
  article ten-B of the executive law shall be transferred and assigned to,
  assumed by and devolved upon the foundation.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 2 - New York State Foundation for Science, Technology and Innovation › 3157 - Abolition of New York State Office of Science, Technology and Academic Research.

§  3157. Abolition of New York state office of science, technology and
  academic research. Upon the  transfer  pursuant  to  section  thirty-one
  hundred fifty-six of this title of the functions and powers possessed by
  and  all  of  the obligations and duties of the New York state office of
  science, technology and academic research  as  established  pursuant  to
  article ten-B of the executive law to the foundation, the New York state
  office  of science, technology and academic research shall be abolished,
  and sections two hundred nine-a, two  hundred  nine-b  and  two  hundred
  nine-c of the executive law shall be repealed.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 2 - New York State Foundation for Science, Technology and Innovation › 3158 - Continuity of Authority.

§ 3158. Continuity of authority. Upon the transfer pursuant to section
  thirty-one  hundred  fifty-six of this title of the functions and powers
  possessed by and all of the obligations and duties of the New York state
  office of science,  technology  and  academic  research  as  established
  pursuant  to  article  ten-B  of  the executive law to the foundation as
  prescribed by section thirty-one hundred fifty-six of this title for the
  purpose of succession to all functions, powers, duties  and  obligations
  of  the  New  York  state  office  of  science,  technology and academic
  research, the foundation shall be deemed  and  held  to  constitute  the
  continuation of such authority and not a different agency or authority.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 2 - New York State Foundation for Science, Technology and Innovation › 3159 - Transfer of Records.

§  3159.  Transfer  of  records. Upon the transfer pursuant to section
  thirty-one hundred fifty-six of this title of the functions  and  powers
  possessed by and all of the obligations and duties of the New York state
  office  of  science,  technology  and  academic  research as established
  pursuant to article ten-B of the executive  law  to  the  foundation  as
  prescribed  by  section  thirty-one hundred fifty-six of this title, all
  books, papers, records and property pertaining to  the  New  York  state
  office of science, technology and academic research shall be transferred
  to and maintained by the foundation.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 2 - New York State Foundation for Science, Technology and Innovation › 3160 - Completion of Unfinished Business.

§  3160. Completion of unfinished business. Upon the transfer pursuant
  to section thirty-one hundred fifty-six of this title of  the  functions
  and powers possessed by and all of the obligations and duties of the New
  York  state  office  of  science,  technology  and  academic research as
  established pursuant to article  ten-B  of  the  executive  law  to  the
  foundation as prescribed by section thirty-one hundred fifty-six of this
  title,  any  business or other matter undertaken or commenced by the New
  York  state  office  of  science,  technology  and   academic   research
  pertaining  to  or connected with the functions, powers, obligations and
  duties so transferred and assigned to the foundation may be conducted or
  completed by the foundation.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 2 - New York State Foundation for Science, Technology and Innovation › 3161 - Terms Occurring in Laws, Contracts or Other Documents.

§  3161.  Terms  occurring in laws, contracts or other documents. Upon
  the transfer pursuant to section thirty-one hundred  fifty-six  of  this
  title  of  the  functions  and  powers  possessed  by  and  all  of  the
  obligations and  duties  of  the  New  York  state  office  of  science,
  technology  and  academic  research  as  established pursuant to article
  ten-B of the executive law to the foundation as  prescribed  by  section
  thirty-one  hundred fifty-six of this title, whenever the New York state
  office of science, technology and academic research and the  chairperson
  thereof,  the  functions,  powers,  obligations  and duties of which are
  transferred to the foundation are referred to or designated in any  law,
  contract  or  document  pertaining to the functions, powers, obligations
  and duties  transferred  and  assigned  pursuant  to  this  title,  such
  reference  or designation shall be deemed to refer to the foundation and
  its executive director. Notwithstanding any law  to  the  contrary,  all
  rights  and  benefits, including terms and conditions of employment, and
  protection of civil service and collective bargaining of  all  employees
  affected  by  the  transfer  of  the  New  York state office of science,
  technology and academic research to the foundation, shall  be  preserved
  and  protected under the transfer, and all transferred employees and all
  persons employed by  the  foundation  after  the  transfer,  except  for
  research   and   investigative  high  technology  scientists,  shall  be
  considered for all purposes of article fourteen of the civil service law
  public employees in the civil service of the state and employees who are
  transferred shall remain in the same collective bargaining unit and  any
  newly  created positions shall be assigned to the appropriate collective
  bargaining unit as if they were employees of the state. For proposes  of
  this  section,  the  term  "research  and  investigative high technology
  scientists" shall  mean  persons  with  an  understanding  of  empirical
  methodologies,  the  ability  to  apply  scientific  knowledge  to  test
  theories, and possessing the expertise to make  systematic  observations
  of  natural,  empirical  phenomena  that  can  also  be  conveyed  in  a
  meaningful way to policymakers.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 2 - New York State Foundation for Science, Technology and Innovation › 3162 - Existing Rights and Remedies Preserved.

§  3162.  Existing  rights  and  remedies preserved. Upon the transfer
  pursuant to section thirty-one hundred fifty-six of this  title  of  the
  functions  and powers possessed by and all of the obligations and duties
  of the New  York  state  office  of  science,  technology  and  academic
  research  as  established pursuant to article ten-B of the executive law
  to the foundation as prescribed by section thirty-one hundred  fifty-six
  of  this  title, no existing right or remedy of the state, including the
  New York state office of  science,  technology  and  academic  research,
  shall be lost, impaired or affected by reason of this title.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 2 - New York State Foundation for Science, Technology and Innovation › 3163 - Pending Actions and Proceedings.

§ 3163. Pending actions and proceedings. Upon the transfer pursuant to
  section  thirty-one hundred fifty-six of this title of the functions and
  powers possessed by and all of the obligations and  duties  of  the  New
  York  state  office  of  science,  technology  and  academic research as
  established pursuant to article ten-B of the executive law  transfer  to
  the  foundation as prescribed by section thirty-one hundred fifty-six of
  this title, no action or proceeding pending on  the  effective  date  of
  this  title, brought by or against the New York state office of science,
  technology and academic research or executive director thereof shall  be
  affected  by any provision of this title, but the same may be prosecuted
  or defended in the name of the executive director of the foundation.  In
  all  such  actions  and proceedings, the foundation, upon application to
  the court, shall be substituted as a party.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 2 - New York State Foundation for Science, Technology and Innovation › 3164 - Continuance of Rules and Regulations.

§  3164.  Continuance  of  rules  and  regulations.  Upon the transfer
  pursuant to section thirty-one hundred fifty-six of this  title  of  the
  functions  and powers possessed by and all the obligations and duties of
  the New York state office of science, technology and  academic  research
  as  established  pursuant to article ten-B of the executive law transfer
  to the foundation as prescribed by section thirty-one hundred  fifty-six
  of   this  title,  all  rules,  regulations,  acts,  determinations  and
  decisions of the New  York  state  office  of  science,  technology  and
  academic  research, pertaining to the functions transferred and assigned
  by this title to the foundation in force at the time of  such  transfer,
  assignment,  assumption or devolution shall continue in force and effect
  as  rules,  regulations,  acts,  determinations  and  decisions  of  the
  foundation until duly modified or repealed.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 2 - New York State Foundation for Science, Technology and Innovation › 3165 - Transfer of Appropriation.

§   3165.   Transfer  of  appropriation.  Transfer  of  appropriations
  heretofore made to the New York state office of science, technology  and
  academic  research.  Upon  the  transfer  pursuant to section thirty-one
  hundred fifty-six of this title of the functions and powers possessed by
  and all of the obligations and duties of the New York  state  office  of
  science,  technology  and  academic  research as established pursuant to
  article ten-B of the executive law to the foundation  as  prescribed  by
  section  thirty-one  hundred fifty-six of this title, all appropriations
  and reappropriations which shall have been made available as of the date
  of such transfer to the New York state office of science, technology and
  academic research or segregated  pursuant  to  law,  to  the  extent  of
  remaining unexpended or unencumbered balances thereof, whether allocated
  or   unallocated   and   whether  obligated  or  unobligated,  shall  be
  transferred to and  made  available  for  use  and  expenditure  by  the
  foundation   and   when  appropriate  made  available  to  the  regional
  partnerships for the same purposes for which originally appropriated  or
  reappropriated and shall be payable on vouchers certified or approved by
  the  commissioner  of  taxation and finance, on audit and warrant of the
  comptroller. Payments of liabilities for expenses of  personal  service,
  maintenance  and operation which shall have been incurred as of the date
  of such transfer by the New York state office of science, technology and
  academic research, and for liabilities incurred and to  be  incurred  in
  completing  its  affairs  shall  also  be  made on vouchers certified or
  approved by the executive director  of  the  foundation,  on  audit  and
  warrant  of  the  comptroller.  All of the assets and liabilities of the
  small business technology investment fund transferred from the New  York
  state  science  and  technology  foundation  to  the  urban  development
  corporation pursuant to subdivision two of section two hundred nine-f of
  the executive law shall be transferred to the New York state  foundation
  for  science,  technology  and  innovation  established pursuant to this
  title.
2023 New York Laws › PBA - Public Authorities › Article 10-A - New York State Science and Technology › Title 2 - New York State Foundation for Science, Technology and Innovation › 3166 - Severability.

§  3166.  Severability. If any clause, sentence, paragraph, section or
  part of  this  title  shall  be  adjudged  by  any  court  of  competent
  jurisdiction  to  be  invalid, such judgment shall not affect, impair or
  invalidate the remainder thereof, but shall be confined in its operation
  to the clause, sentence, paragraph, section  or  part  thereof  directly
  involved  in  the  controversy  in  which  such judgment shall have been
  rendered.
2023 New York Laws › PBA - Public Authorities › Article 10-B › Title 4 - New York Local Government Assistance Coporation › 3233 - New York Local Government Assistance Corporation.

§  3233. New York local government assistance corporation. 1. There is
  hereby created the New York  local  government  assistance  corporation.
  The  corporation shall be a corporate governmental agency constituting a
  public benefit corporation. It shall have the powers and privileges of a
  corporation and all of its  business  shall  be  transacted,  all  funds
  invested,  all  warrants for money drawn and payments made, and all cash
  and securities and other personal  property  held  under  its  corporate
  name.
2.  The  corporation  shall  continue  until  six months after all its
  liabilities have been met or otherwise discharged. Upon the  termination
  of  the  existence  of  the  corporation, all of its rights and property
  shall pass to and be vested in the state.
2023 New York Laws › PBA - Public Authorities › Article 10-B › Title 4 - New York Local Government Assistance Coporation › 3238 - Payments to Local Governments.

§ 3238. Payments to local governments. The local government assistance
  corporation   shall   not   issue  obligations  for  payments  to  local
  governments unless an appropriation or appropriations have been  enacted
  providing  for the determination of the amount and manner of payments to
  local governments. Payments to local governments from the  net  proceeds
  of  the  obligations  of  the corporation shall be for any or all of the
  following purposes:
1. elementary and  secondary  education,  community  college  aid  and
  support for tuition assistance programs;
2. payment of the nonfederal share of local medicaid costs; and
3.   other   local  assistance  programs,  including  revenue  sharing
  assistance, aid for health and the improvement of environmental quality,
  housing  initiatives,  mental  health  and  drug  abuse  programs,  mass
  transportation and highway and bridge programs.
2023 New York Laws › PBA - Public Authorities › Article 10-B › Title 4 - New York Local Government Assistance Coporation › 3239 - Resources of the Corporation.

§  3239. Resources of the corporation. 1. Subject to the provisions of
this title, the directors of  the  corporation  shall  receive,  accept,
invest,  administer,  expend and disburse for its corporate purposes all
monies for the corporation from whatever sources derived including:
(a) payments by the state pursuant to the provisions of section  three
thousand two hundred forty of this title; and
(b)  any  other  payments, gifts, or appropriations to the corporation
from any other source.
2. The monies of the corporation shall be held by the corporation  and
may  be  invested  as  provided in subdivision ten of section thirty-two
hundred thirty-five of this title. Subject to provisions of any contract
with bondholders or noteholders, all monies received by the  corporation
other  than as proceeds of its bonds or notes which, together with other
monies of the corporation available for the operating  expenses  of  the
corporation,  the  payment of debt service and the other purposes listed
in section thirty-two hundred forty of this  title,  exceed  the  amount
required  for  such  purposes shall be applied by the corporation to the
acceleration of the payment of principal on the bonds or  notes  of  the
corporation or to the redemption thereof.
3.  The comptroller or legally authorized representative, from time to
time may examine the books and accounts of  the  corporation,  including
its  receipts,  disbursements, contracts, reserves, investments, and any
other matters relating to its financial standing.  Such  an  examination
should  be  conducted  by  the  comptroller  or  such legally authorized
representative at least once every  five  years;  in  lieu  of  such  an
examination, the comptroller may accept from the corporation an external
examination  of  the  books  and  accounts  made  at  the request of the
directors of the corporation.
2023 New York Laws › PBA - Public Authorities › Article 10-B › Title 4 - New York Local Government Assistance Coporation › 3241 - Agreement With the State.

§  3241.  Agreement with the state. 1. The state does hereby pledge to
  and agree with the holders of any bonds or notes issued under this title
  and with the providers of any bond or note  facilities  that  the  state
  will  not  limit or alter the rights hereby vested in the corporation to
  fulfill the terms of any agreements made with the said  holders  or  the
  said  providers,  or  in  any way impair the rights and remedies of such
  holders or providers until such  bonds  and  notes,  together  with  the
  interest  thereon, with interest on any unpaid installments of interest,
  and all obligations of the corporation to such providers, and all  costs
  and expenses in connection with any action or proceeding by or on behalf
  of  such  holders  or  providers,  are  fully  met  and  discharged. The
  corporation is authorized to include this pledge and  agreement  of  the
  state  in  any agreement with the holders of such bonds or notes or with
  any such providers.
2. In order to induce prospective purchasers  to  purchase  bonds  and
  notes  of  the  corporation, the state hereby further pledges and agrees
  with the holders of bonds and notes of the corporation that,  while  any
  bonds  or notes of the corporation are outstanding, the state will abide
  by and not amend the provisions of section three  thousand  two  hundred
  forty-one-a  of  this  title  other  than  amendments which implement or
  clarify any ambiguity in its terms in ways that do not have  a  material
  adverse  effect  on  the  protections  established  in such section. The
  corporation shall include the pledge and agreement set forth  herein  in
  any agreement with the holders of its bonds and notes.
2023 New York Laws › PBA - Public Authorities › Article 10-B › Title 4 - New York Local Government Assistance Coporation › 3241-A - Limitation on Issuance of Tax and Revenue Anticipation Notes by the State.

§ 3241-a. Limitation on issuance of tax and revenue anticipation notes
by the state. 1. Except as otherwise provided in subdivision two of this
section,  the aggregate principal amount of tax and revenue anticipation
notes  issued  pursuant  to  section  nine  of  article  seven  of   the
constitution in any fiscal year by the state and maturing in such fiscal
year  shall  not exceed the amount of four billion seven hundred million
dollars,  less  the  aggregate  principal  amount  of  bonds  and  notes
theretofore  issued  by  the corporation exclusive of any bonds or notes
referred to in subparagraph (i) or (iii) of paragraph (a) of subdivision
eight of  section  thirty-two  hundred  thirty-six  of  this  title,  or
excluded by paragraph (b) of such subdivision.
2. The state may issue in any fiscal year tax and revenue anticipation
notes  in  an  aggregate  principal  amount  in  excess  of the limit on
issuance set forth in subdivision one of this section, if  and  only  if
there  shall  have  first  been  executed  in such fiscal year a written
certificate signed by the  governor,  the  temporary  president  of  the
senate and the speaker of the assembly, which shall set forth:
(a) the emergency or extraordinary factors or factors unanticipated at
the  time  of  adoption  of the budget for the fiscal year in which such
borrowing is to be made that gave rise to the need for the  issuance  of
tax and revenue anticipation notes in excess of such limit, and
(b)  the  amount of tax and revenue anticipation notes projected to be
issued in each of the three fiscal years commencing  subsequent  to  the
fiscal  year  in  which  such  limit was originally exceeded, which will
result in the elimination of such excess as soon as practicable  but  in
no  event  later  than  by  the  end of the third fiscal year commencing
subsequent to the  fiscal  year  in  which  such  limit  was  originally
exceeded.
3.  The  need  for  the  issuance  referred  to  in  paragraph  (a) of
subdivision two of this section shall be in the  conclusive,  final  and
binding  discretion  of  the  signatories  to  the  written  certificate
described in subdivision two of this section and not subject to judicial
challenge or review.
4. In no event shall a written certificate referred to in  subdivision
two  of  this  section  be  issued  in more than four consecutive fiscal
years.
5. In the event of any inconsistency  between  this  section  and  any
amendment  to  the  constitution  relating  to  the  issuance of tax and
revenue  anticipation  notes,  the  provisions  of  such  constitutional
amendment shall control.
6.  Nothing  contained  in this section shall be deemed to relieve the
state of its obligation to repay  tax  and  revenue  anticipation  notes
within one year from the date of issuance thereof.
2023 New York Laws › PBA - Public Authorities › Article 10-B › Title 4 - New York Local Government Assistance Coporation › 3242 - State and Local Governments Not Liable on Bonds and Notes.

§  3242.  State  and  local governments not liable on bonds and notes.
  The notes, bonds or other obligations of the corporation shall not be  a
  debt  of the state or of any local government, and neither the state nor
  any local government shall be liable thereon, nor shall they be  payable
  out of any funds other than those of the corporation; and such bonds and
  notes shall contain on the face thereof a statement to such effect.
2023 New York Laws › PBA - Public Authorities › Article 10-B › Title 4 - New York Local Government Assistance Coporation › 3243 - Remedies of Bondholders and Noteholders.

§  3243.  Remedies  of  bondholders and noteholders. 1. Subject to the
provisions of section three thousand  two  hundred  thirty-six  of  this
title, in the event that the corporation shall default in the payment of
principal  of  or  interest  on  or sinking fund payment on any issue of
bonds or notes after the same shall become due, whether at  maturity  or
upon  call  for  redemption, or in the event that the corporation or the
state shall default in any agreement made with the holders of any  issue
of  bonds  or  notes, the holders of twenty-five per centum in aggregate
principal amount of the bonds or notes of such issue  then  outstanding,
by  instrument  or  instruments  filed in the office of the clerk of the
county of Albany and proved or acknowledged in the same manner as a deed
to be recorded, may appoint a trustee to represent the holders  of  such
bonds or notes for the purposes herein provided.
2. Such trustee, or any trustee appointed under section three thousand
two  hundred  thirty-six of this title, may, and upon written request of
the holders of twenty-five per centum in principal amount of such  bonds
or notes then outstanding shall, in his or its own name:
(a)  by  suit,  action  or  proceeding  in  accordance  with the civil
practice law and  rules,  enforce  all  rights  of  the  bondholders  or
noteholders, including the right to require the corporation to carry out
any  agreement  with  such  holders and to perform its duties under this
title;
(b) bring suit upon such bonds and notes;
(c) by action or suit, require the corporation to  account  as  if  it
were  the  trustee  of an express trust for the holders of such bonds or
notes;
(d) by action or suit, enjoin any acts or things which may be unlawful
or in violation of the rights of the holders of such bonds or notes; and
(e) declare all such bonds or  notes  due  and  payable,  and  if  all
defaults  shall  be  made good, then, with the consent of the holders of
twenty-five per centum of the principal amount of such  bonds  or  notes
then  outstanding  annul such declaration and its consequences provided,
however,  that  nothing  herein  shall  preclude  the  corporation  from
agreeing  that  consent  of  the  provider of a bond or note facility is
required for an acceleration of related bonds or notes in the event of a
default other than a failure to pay principal  of  or  interest  on  the
bonds or notes when due.
3.  The  supreme  court shall have jurisdiction of any suit, action or
proceeding by the trustee on behalf of such bondholders or  noteholders.
The  venue  of  any such suit, action or proceeding shall be laid in the
county of Albany.
4. Before declaring the principal of bonds or notes due  and  payable,
the  trustee  shall  first  give  thirty  days' notice in writing to the
corporation, the governor, the comptroller, the temporary  president  of
the  senate,  the speaker of the assembly and to the attorney general of
the state.
2023 New York Laws › PBA - Public Authorities › Article 10-B › Title 4 - New York Local Government Assistance Coporation › 3244 - Bonds and Notes as Legal Investments.

§  3244.  Bonds and notes as legal investments. The bonds and notes of
  the corporation are hereby made securities in which all public  officers
  and   bodies   of  this  state  and  all  municipalities  and  political
  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 in other obligations of the state, may properly and  legally
  invest  funds, including capital, in their control or belonging to them.
  The bonds and notes  are  also  hereby  made  securities  which  may  be
  deposited  with and may be received by all public officers and bodies of
  the state and all  municipalities,  political  subdivisions  and  public
  corporations  for  any  purpose  for which the deposit of bonds or other
  obligations of the state is now or may hereafter be authorized.
2023 New York Laws › PBA - Public Authorities › Article 10-B › Title 4 - New York Local Government Assistance Coporation › 3245 - Exemption From Taxation.

§  3245.  Exemption from taxation. 1. It is hereby determined that the
  creation of the corporation  and  the  carrying  out  of  its  corporate
  purpose  is  in  all  respects a public and governmental purpose for the
  benefit of the people of the state and  for  the  improvement  of  their
  health,  safety,  welfare,  comfort and security, and that said purposes
  are public purposes and that  the  corporation  will  be  performing  an
  essential  governmental function in the exercise of the powers conferred
  upon it by this title.
2. The property of the corporation and its income and operations shall
  be exempt from taxation.
3. The bonds and notes of the  corporation  issued  pursuant  to  this
  title and the income therefrom and all its fees, charges, gifts, grants,
  revenues, receipts, and other monies received or to be received, pledged
  to  pay  or secure the payment of such bonds or notes shall at all times
  be free from taxation, except for estate and gift taxes on transfers.
4. In the case of any bonds or notes of the corporation,  interest  on
  which  is intended to be exempt from federal income tax, the corporation
  shall prescribe restrictions on the use  of  the  proceeds  thereof  and
  related  matters  as  are  necessary  to  assure such exemption, and the
  recipients of such proceeds shall be bound thereby to  the  extent  such
  restrictions shall be made applicable to them.
2023 New York Laws › PBA - Public Authorities › Article 10-B › Title 4 - New York Local Government Assistance Coporation › 3246 - Employees of the Corporation.

§  3246.  Employees  of  the  corporation.  1.  In order to reduce its
  operating expenses the corporation shall,  to  the  extent  practicable,
  utilize  existing employees of the state, pursuant to section thirty-two
  hundred forty-eight of this title, hiring its own employees only if  the
  necessary  functions  of the corporation cannot be performed without the
  hiring of such employees. Employee compensation shall be paid only  from
  appropriations made to the corporation by law.
2.  In  accordance with the provisions of section seventy of the civil
  service law and any  applicable  collective  bargaining  agreement,  the
  state  and  the  corporation  shall  have  the  power to provide for the
  transfer to the corporation of such agents, employees and facilities  of
  the  state  as  shall  enable  the  corporation to fulfill its corporate
  purposes. Employees of the state  so  transferred  shall  be  appointed,
  without   further  examination,  to  the  corporation  in  the  same  or
  equivalent classification and position they hold  at  the  time  of  the
  transfer.
3.  A  transferred  employee  shall  remain  in  the  same  collective
  bargaining unit as was the case prior to his or her transfer;  successor
  employees  to  the  positions  held by such transferred employees shall,
  consistent with the provisions of article fourteen of the civil  service
  law,  be  included  in  the  same  unit as their predecessors. Employees
  serving in positions in newly created titles shall be assigned  to  such
  same collective bargaining unit if they would have been assigned to such
  unit  were  such  titles  created  prior  to  the  establishment  of the
  corporation. Nothing contained in  this  title  shall  be  construed  to
  diminish (a) the rights of employees pursuant to a collective bargaining
  agreement  or  (b) to affect existing law with respect to an application
  to the public employment relations board seeking a  designation  by  the
  board that certain persons are managerial or confidential.
4.  The  corporation  and  its  employees  shall be subject to article
  fourteen of the civil service law and for all purposes  the  corporation
  shall be deemed a "public employer".