New York Public Authorities Law Title 19 - NEW YORK STATE SPORTS AUTHORITY

• 2460 - Short Title.
  * This title may be cited as the New York state sports authority act. * NB (Disbanded March, 1980)
• 2461 - Legislative Findings.
  * It is hereby found, determined and declared that there is an immediate need to promote the further development of recreational opportunities in the state...
• 2462 - Definitions.
  * As used or referred to in this title, unless a different meaning clearly appears from the context: 1. The term "state" shall mean the...
• 2463 - New York State Sports Authority.
  * 1. For the purpose of effectuating the policy declared in section twenty-four hundred sixty-one of this chapter, there is hereby created a corporate instrumentality...
• 2464 - General Powers of the Authority.
  * Except as otherwise limited by this title, the authority shall have power: 1. To sue and be sued; 2. To have a seal and...
• 2465 - Plans for Sports Facilities.
  * Any participating municipality may by resolution of its governing body or in the case of the city of New York, the board of estimate,...
• 2466 - The Acquisition of Real Property.
  * 1. The authority may from time to time determine what real property is necessary for the construction, improvement and operation of a sports facility...
• 2467 - Bond and Note Authorization.
  * 1. The authority shall have the power and is hereby authorized to issue from time to time its negotiable bonds and notes in conformity...
• 2468 - Bonds and Notes of the Authority.
  * 1. All bonds and notes issued by the authority may be secured by the full faith and credit of the authority subject only to...
• 2469 - Security for Bonds or Notes; Construction and Acquisition of Sports Facilities.
  * 1. The principal of and interest on any bonds or notes issued by the authority may be secured by a pledge of any revenues...
• 2470 - Resources of Authority.
  * 1. The authority may receive, accept, invest, administer, expend and disburse for its corporate purposes appropriations from the capital construction fund and the state...
• 2471 - Lease Agreements.
  * 1. Any agreement entered into between the authority and a participating municipality may provide for (i) the construction, acquisition, reconstruction, rehabilitation or improvement of...
• 2472 - Reserve Fund.
  * 1. The authority may create and establish one or more reserve funds to be known as debt service reserve funds and may pay into...
• 2473 - State Aid Guarantee; Withholding Thereof.
  * 1. In the event that a participating municipality fails to make its required payment, in whole or in part, to the authority, the chairman...
• 2474 - Extraordinary Conditions Provision.
  * In the event that a participating municipality fails to make its required payment in whole or in part, to the authority because of extraordinary...
• 2475 - Remedies of Bondholders and Noteholders.
  * 1. In the event that the authority shall default in the payment of principal or of interest on any issue of bonds or notes...
• 2476 - State and Municipalities Not Liable on Bonds and Notes.
  * The bonds, notes and other obligations of the authority shall not be a debt of the state of New York or of any municipality,...
• 2477 - Agreement of the State.
  * The state of New York does hereby pledge to and agree with the holders of any bonds or notes issued under this title that...
• 2478 - Property and Income.
  * The property of the authority and its income and operations shall be exempt from taxation, assessments or service charges of every kind and nature,...
• 2479 - Exemption From Taxation of Bonds and Notes.
  * It is hereby determined that the creation of the authority is in all respects for the benefit of the people of the state, for...
• 2480 - Bonds and Notes As Legal Investments for Public Officers and Fiduciaries.
  * The bonds and notes of the authority are hereby made securities in which all public officers and bodies of this state and all political...
• 2481 - Actions.
  * In any case founded upon tort a notice of claim shall be required as a condition precedent to the commencement of an action or...
• 2482 - Limitation of Liability.
  * Neither the members of the authority, nor any person or persons acting in its behalf, while acting within the scope of their authority, shall...
• 2483 - Assistance by State Officers, Departments, Boards and Commissions.
  * All officers, departments, boards, agencies, divisions and commissions of the state may render any services to the authority as are within the area of...
• 2484 - Annual Report.
  * The authority shall submit to the governor, the chairman of the senate finance committee, the chairman of the assembly ways and means committee, the...
• 2485 - Court Proceedings; Preferences; Venue.
  * Any action or proceeding to which the agency or the people of the state of New York may be parties, in which any question...
• 2486 - Inconsistent Provisions of Other Laws Superseded.
  * Insofar as the provisions of this title are inconsistent with the provisions of any other law, general, special or local, the provisions of this...
• 2487 - Construction.
  * This title, being necessary for the welfare of the state and its inhabitants, shall be liberally construed so as to effectuate its purposes. *...
• 2488 - Separability.
  * If any clause, sentence, paragraph, section or part of this title shall be adjudged by any court of competent jurisdiction to be invalid, such...

Last modified: February 3, 2019