N.Y. Economic Development Law § 342: Definitions

§ 342. Definitions. As used in this article, the following words and

terms shall have the following meanings:

(a) "Comptroller" shall mean the state comptroller.

(b) "Division of budget" shall mean the state of New York division of

budget.

(c) "Endorsing municipality" shall mean a municipality or

municipalities within the state of New York that authorizes a bid by a

local organizing committee for selection of such municipality or

municipalities as the site of an olympic games.

(d) "Games support contract" shall mean a joinder undertaking, a

joinder agreement, and/or a similar contract executed by the state, an

endorsing municipality and a site selection organization in connection

with the selection of a municipality to host the games, and containing

terms authorized or required by this section.

(e) "Guaranty fund" shall mean the olympic games guaranty fund

established in section eighty-four-a of the state finance law.

(f) "Joinder agreement" shall mean an agreement entered into by the

state, an endorsing municipality and a site selection organization

setting out representations and assurances by the state and endorsing

municipality in connection with the selection of a site in the endorsing

municipality for the location of the olympic games.

(g) "Joinder undertaking" shall mean an agreement entered into by the

state, an endorsing municipality and a site selection organization that

the state and endorsing municipality will execute a joinder agreement in

the event that the site selection organization selects a site in the

endorsing municipality for an olympic games.

(h) "Local organizing committee" shall mean a not-for-profit

corporation or its successor in interest that: (1) has been authorized

by an endorsing municipality to pursue an application and bid on the

endorsing municipality's behalf to a site selection organization for

selection as the site of an olympic games; or (2) with the authorization

of an endorsing municipality, has executed an agreement with a site

selection organization regarding a bid to host the olympic games.

(i) "Net financial deficit" shall mean those losses resulting from the

conduct of the games which the endorsing municipality and state are

obligated to indemnify and insure against pursuant to a games support

contract. Expenses or liabilities arising from cancellation of the games

or any part thereof due to any cause beyond the local organizing

committee's reasonable control, including, but not limited to acts of

war, riots and other civil disturbances, acts of God, including, but not

limited to flood, fire, weather, and earthquakes, shall not be included

in calculating the net financial deficit.

(j) "State" shall mean the state of New York.

(k) "Olympic games" shall mean the two thousand twelve olympic games.

(l) "Site selection organization" shall mean the United States olympic

committee or the international olympic committee.

(m) "United States olympic committee" shall mean the official national

olympic committee of the United States of America which has been

authorized by law to govern all matters relating to national

participation in the olympic games.