N.Y. Public Authorities Law § 1026: Albany Light, Heat and Power Authority

* § 1026. Albany Light, Heat and Power Authority. There is hereby

defined and established an area in the county of Albany to be known as

the "Albany light, heat and power district," which shall embrace all the

territory comprised within the cities of Albany, Cohoes and Watervliet,

the villages of Ravena, Green Island, Colonie, Menands, Voorheesville

and Altamont, and the towns of Bethlehem, Coeymans, Colonie, Green

Island, Guilderland and New Scotland, within such county. Such district

may be extended at any time to include additional territory within such

county, in the manner provided in section one thousand twenty-eight.

There is also hereby created and established a public corporation, to

be known as "Albany Light, Heat and Power Authority," hereinafter in

this title referred to as "the authority." The authority shall be a body

corporate and politic constituting a public benefit corporation, the

objects of which in the judgment of the legislature cannot be attained

under general laws. It shall have the power to acquire by the exercise

of the right of eminent domain or otherwise such real estate and other

property as may be necessary, to sue and be sued, to incur debts,

liabilities and obligations, to issue bonds and other evidences of

indebtedness, to have a seal, and to exercise all powers authorized by

this title and reasonably necessary for accomplishing its purposes, or

properly incidental thereto, subject to the provisions herein contained

and to the constitution and laws of the United States and of New York

state. Such powers shall be exercised in the name of the authority. Such

authority shall continue only until July first, nineteen hundred

sixty-three, and thereafter until all its liabilities have been met and

its bonds have been paid in full or such liabilities or bonds have

otherwise been discharged; provided, however, that no appropriation made

to the authority by the state of New York or by any political

subdivision thereof, shall be deemed a liability for the purposes of

this section.

* NB Terminated July 1, 1963