New York Public Authorities Law Title 4-A - CITY OF ALBANY PARKING AUTHORITY

• 1493-a - Short Title.
  This title may be cited as the "City of Albany Parking Authority Act."
• 1493-b - Definitions.
  As used or referred to in this title, unless a different meaning clearly appears from the context: 1. The term "authority" shall mean the corporation...
• 1493-c - Albany Parking Authority.
  A board to be known as "Albany Parking Authority" is hereby created. Such board shall be a body corporate and politic, constituting a public benefit...
• 1493-d - Purpose and Powers of the Authority.
  The purpose of the authority shall be to construct, operate and maintain one or more projects in the city. To carry out said purpose, the...
• 1493-e - Civil Service Status of Officers and Employees.
  Officers and employees of any board, commission or department of the city may be transferred to the authority in accordance with the provisions of the...
• 1493-f - Conveyance of Property by the City to the Authority; Acquisition of Property by the City or by the Authority.
  1. The city may, by resolution or resolutions of the common council or by instruments authorized by such resolutions, convey, with or without consideration, and...
• 1493-g - Construction and Purchase Contracts.
  The authority shall let contracts for construction in the same manner, so far as practicable, as is provided by law for contracts of the city,...
• 1493-h - Moneys of the Authority.
  All moneys of the authority shall be paid to the treasurer of the city as agent of the authority, who shall not commingle such moneys...
• 1493-i - Bonds of the Authority.
  1. The authority shall have the power and is hereby authorized from time to time to issue its negotiable bonds for any purpose mentioned in...
• 1493-j - Notes of the Authority.
  The authority shall have power from time to time to issue notes and from time to time to issue renewal notes (herein referred to as...
• 1493-k - Agreements of the State.
  1. The state of New York does pledge to and agree with the holders of the bonds that the state will not limit or alter...
• 1493-l - State and City Not Liable on Bonds.
  The bonds and other obligations of the authority shall not be a debt of the state of New York or of the city, and neither...
• 1493-m - Bonds Legal Investments for Public Officers.
  The bonds are hereby made securities in which all public officers and bodies of this state and all municipalities and municipal subdivisions, all insurance companies...
• 1493-n - Tax Exemptions.
  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...
• 1493-o - Tax Contract by the State.
  The state of New York covenants with the purchasers and with all subsequent holders and transferees of bonds or notes issued by the authority pursuant...
• 1493-p - Remedies of Bondholders.
  1. In the event that the authority shall default in the payment of principal of or interest on any issue of the bonds after the...
• 1493-q - Actions Against the Authority.
  1. In every action against the authority for damages, for injuries to real or personal property, or for the destruction thereof, or for personal injuries...
• 1493-r - Title Not Affected If in Part Unconstitutional or Ineffective.
  If any section, clause or provision of this title shall be unconstitutional or be ineffective in whole or in part, to the extent that it...
• 1493-s - Inconsistent Provisions in Other Acts Superseded.
  Insofar as the provisions of this title are inconsistent with the provisions of any other act, general or special, or of any local law of...

Last modified: February 3, 2019