N.Y. Private Activity Bond 47/90 § 6: Access to employment opportunities

* § 6. Access to employment opportunities. 1. All issuers shall

require that any new employment opportunities created in connection with

industrial or manufacturing projects financed through the issuance of

qualified small issue bonds shall be listed with the New York state

department of labor job service division, and with the administrative

entity of the service delivery area created pursuant to the Job Training

Partnership Act (Pub. L. 97-300) in which the project is located. Such

listing shall be in a manner and form prescribed by the commissioner.

All issuers shall further require that for any new employment

opportunities created in connection with an industrial or manufacturing

project financed through the issuance of qualified small issue bonds by

such issuer, industrial or manufacturing firms shall first consider

persons eligible to participate in Federal Job Training Partnership Act

(Pub. L. 97-300) programs who shall be referred to the industrial or

manufacturing firm by administrative entities of service delivery areas

created pursuant to such act or by the job service division at the

department of labor. Issuers of qualified small issue bonds are required

to monitor compliance with the provisions of this section as prescribed

by the commissioner.

2. Nothing in this section shall be construed to require users of

qualified small issue bonds to violate any existing collective

bargaining agreement with respect to the hiring of new employees.

Failure on the part of any user of qualified small issue bonds to comply

with the requirements of this section shall not affect the allocation of

bonding authority to the issuer of the bonds or the validity or tax

exempt status of such bonds.

* NB Repealed January 1, 1991