Bill Text: NY S05666 | 2019-2020 | General Assembly | Amended

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-Amended.html

---

                STATE OF NEW YORK
        ________________________________________________________________________

                                         5666--A
            Cal. No. 784

                               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 -- reported favorably from said committee, ordered to
          first and second report, ordered  to  a  third  reading,  amended  and
          ordered reprinted, retaining its place in the order of third reading

        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 therapy
     8  at  their facility located at twenty-five East One Hundred Fourth Street
     9  in the city of New York, to serve as  a  school  for  special  education
    10  students;  provided, however, that the aggregate sum of any bonds issued
    11  for such purpose shall not exceed twenty million dollars]  Notwithstand-
    12  ing  any  other provision of law, the Reece School shall have full power
    13  and authority to assign and pledge to the dormitory authority,  any  and
    14  all  public  funds  to  be  apportioned or otherwise made payable by the
    15  United States, any agency thereof, the  state,  any  agency  thereof,  a
    16  political  subdivision, as defined in section one hundred of the general
    17  municipal law, any social services district in the state  or  any  other
    18  governmental  entity  in  an  amount  sufficient  to  make  all payments
    19  required to be made by the Reece School to any lease, sublease or  other
    20  agreement  entered  into  between  the  Reece  School  and the dormitory
    21  authority. All state  and  local  officers  are  hereby  authorized  and
    22  required  to pay all such funds so assigned and pledged to the dormitory

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11647-02-9
        S. 5666--A                          2

     1  authority or, upon the direction of  the  dormitory  authority,  to  any
     2  trustee  of  any  dormitory authority bond or note issued, pursuant to a
     3  certificate filed with any such state or local officer by the  dormitory
     4  authority pursuant to the provisions of this section.
     5    §  2.  The  undesignated paragraph of subdivision 1 of section 1680 of
     6  the public authorities law, as added by chapter 465 of the laws of 2009,
     7  is amended to read as follows:
     8    [The Reece School, for the financing or refinancing, or  reimbursement
     9  of  the costs of, the acquisition, design, construction, reconstruction,
    10  rehabilitation, improvement, furnishing and equipping of,  or  otherwise
    11  providing for, additional floors or facilities for education and therapy
    12  at  their facility located at twenty-five East One Hundred Fourth Street
    13  in the city of New York, to serve as  a  school  for  special  education
    14  students;  provided, however, that the aggregate sum of any bonds issued
    15  for such purpose shall not exceed twenty million dollars]  Notwithstand-
    16  ing  any  other provision of law, the Reece School shall have full power
    17  and authority to assign and pledge to the dormitory authority,  any  and
    18  all  public  funds  to  be  apportioned or otherwise made payable by the
    19  United States, any agency thereof, the  state,  any  agency  thereof,  a
    20  political  subdivision, as defined in section one hundred of the general
    21  municipal law, any social services district in the state  or  any  other
    22  governmental  entity  in  an  amount  sufficient  to  make  all payments
    23  required to be made by the Reece School to any lease, sublease or  other
    24  agreement  entered  into  between  the  Reece  School  and the dormitory
    25  authority. All state  and  local  officers  are  hereby  authorized  and
    26  required  to pay all such funds so assigned and pledged to the dormitory
    27  authority or, upon the direction of  the  dormitory  authority,  to  any
    28  trustee  of  any  dormitory authority bond or note issued, pursuant to a
    29  certificate filed with any such state or local officer by the  dormitory
    30  authority pursuant to the provisions of this section.
    31    §  3.  The  Reece  School  shall be an eligible private not-for-profit
    32  school for the purposes of title 4 of article 8 of the  public  authori-
    33  ties law.
    34    § 4. This act shall take effect immediately.