Bill Text: NY S05666 | 2019-2020 | General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relates to financing by and through the dormitory authority for the Reece School, the Reece School shall have full power and authority to assign and pledge to the dormitory authority, any and all public funds in an amount sufficient to make all payments required to be made by the Reece School to any lease, sublease or other agreement entered into between the Reece School and the dormitory authority.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2019-08-30 - SIGNED CHAP.226 [S05666 Detail]
Download: New_York-2019-S05666-Introduced.html
Bill Title: Relates to financing by and through the dormitory authority for the Reece School, the Reece School shall have full power and authority to assign and pledge to the dormitory authority, any and all public funds in an amount sufficient to make all payments required to be made by the Reece School to any lease, sublease or other agreement entered into between the Reece School and the dormitory authority.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2019-08-30 - SIGNED CHAP.226 [S05666 Detail]
Download: New_York-2019-S05666-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 5666 2019-2020 Regular Sessions IN SENATE May 10, 2019 ___________ Introduced by Sen. BENJAMIN -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the public authorities law, in relation to financing by and through the dormitory authority for the Reece School The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The undesignated paragraph of paragraph (b) of subdivision 2 2 of section 1676 of the public authorities law, as added by chapter 465 3 of the laws of 2009, is amended to read as follows: 4 The Reece School, for the financing or refinancing, or reimbursement 5 of the costs of, the acquisition, design, construction, reconstruction, 6 rehabilitation, improvement, furnishing and equipping of, or otherwise 7 providing for[, additional floors or facilities for education and thera-8py at their facility located at twenty-five East One Hundred Fourth9Street in the city of New York, to serve as] a school and other educa- 10 tion and therapy facilities for special education students[; provided,11however, that the aggregate sum of any bonds issued for such purpose12shall not exceed twenty million dollars] to be located in the state of 13 New York. Notwithstanding any other provision of law, the Reece School 14 shall have full power and authority to assign and pledge to the dormito- 15 ry authority, any and all public funds to be apportioned or otherwise 16 made payable by the United States, any agency thereof, the state, any 17 agency thereof, a political subdivision, as defined in section one 18 hundred of the general municipal law, any social services district in 19 the state or any other governmental entity in an amount sufficient to 20 make all payments required to be made by the Reece School to any lease, 21 sublease or other agreement entered into between the Reece School and 22 the dormitory authority. All state and local officers are hereby author- 23 ized and required to pay all such funds so assigned and pledged to the 24 dormitory authority or, upon the direction of the dormitory authority, EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD11647-01-9S. 5666 2 1 to any trustee of any dormitory authority bond or note issued, pursuant 2 to a certificate filed with any such state or local officer by the 3 dormitory authority pursuant to the provisions of this section. The 4 Reece School shall be an eligible private not-for-profit school for 5 purposes of this title. 6 § 2. The undesignated paragraph of subdivision 1 of section 1680 of 7 the public authorities law, as added by chapter 465 of the laws of 2009, 8 is amended to read as follows: 9 The Reece School, for the financing or refinancing, or reimbursement 10 of the costs of, the acquisition, design, construction, reconstruction, 11 rehabilitation, improvement, furnishing and equipping of, or otherwise 12 providing for[, additional floors or facilities for education and thera-13py at their facility located at twenty-five East One Hundred Fourth14Street in the city of New York, to serve as] a school and other educa- 15 tion and therapy facilities for special education students[; provided,16however, that the aggregate sum of any bonds issued for such purpose17shall not exceed twenty million dollars] to be located in the state of 18 New York. Notwithstanding any other provision of law, the Reece School 19 shall have full power and authority to assign and pledge to the dormito- 20 ry authority, any and all public funds to be apportioned or otherwise 21 made payable by the United States, any agency thereof, the state, any 22 agency thereof, a political subdivision, as defined in section one 23 hundred of the general municipal law, any social services district in 24 the state or any other governmental entity in an amount sufficient to 25 make all payments required to be made by the Reece School to any lease, 26 sublease or other agreement entered into between the Reece School and 27 the dormitory authority. All state and local officers are hereby author- 28 ized and required to pay all such funds so assigned and pledged to the 29 dormitory authority or, upon the direction of the dormitory authority, 30 to any trustee of any dormitory authority bond or note issued, pursuant 31 to a certificate filed with any such state or local officer by the 32 dormitory authority pursuant to the provisions of this section. The 33 Reece School shall be an eligible private not-for-profit school for 34 purposes of this title. 35 § 3. This act shall take effect immediately.
