N.Y. Public Authorities Law § 1045-c: New York city municipal water finance authority

§ 1045-c. New York city municipal water finance authority. 1. A

corporation known as the New York city municipal water finance authority

is hereby created for public purposes and charged with the duties and

having the powers provided in this title. The authority shall be a body

corporate and politic constituting a public benefit corporation. It

shall be administered by a board of directors consisting of seven

members as follows: the commissioner of environmental protection of the

city, the state commissioner of environmental conservation, the director

of management and budget of the city, the commissioner of finance of the

city, two public members to be appointed by the mayor and one public

member to be appointed by the governor. One public member appointed by

the mayor shall serve for a term of one year, one public member

appointed by the mayor shall serve for a term of two years, and the

public member appointed by the governor shall serve for a term of two

years from January first next succeeding the date of their appointment.

Their successors shall serve for terms of two years each. Members shall

continue in office until their successors have been appointed and

qualified. The mayor or the governor shall fill any vacancy which may

occur by reason of death, resignation or otherwise in a manner

consistent with the original appointment. A public member may be removed

by the mayor or the governor, whichever appointed him, for cause, but

not without an opportunity to be heard in person or by counsel, in his

defense, upon not less than ten days' notice. The mayor shall select a

chairman from among the directors appointed by him who shall serve in

such capacity at his pleasure. The chairman shall preside over all

meetings of the board of directors and shall have such other duties as

may be prescribed by the board.

2. Each director who is a public member shall be entitled to

reimbursement for his actual and necessary expenses incurred in the

performance of his official duties and a per diem allowance of one

hundred fifty dollars when rendering service as such director, provided

that the aggregate of such per diem allowance to any one director in any

one fiscal year of the authority shall not exceed the sum of five

thousand dollars.

3. Such public members may engage in private employment, or in a

profession or business, subject to the limitations contained in sections

twenty-six hundred four, twenty-six hundred five, twenty-six hundred six

and twenty-six hundred seven of the New York city charter for members

appointed by the mayor, and subject to the limitations contained in

sections seventy-three and seventy-four of the public officers law for

members appointed by the governor. The authority shall, for the purposes

of such sections be a "city agency" or a "state agency," as the case may

be and such directors shall be "officers" of the authority for the

purposes of such sections.

4. Four directors of the authority of whom at least three members

shall be ex officio shall constitute a quorum for the transaction of any

business or the exercise of any power of the authority. Resolutions

authorizing the issuance of bonds or notes of the authority and

resolutions authorizing any loan, lease, sale or other agreement in

respect to a water project shall be approved by not less than four

members of the authority at a meeting duly called for such purposes at

which a quorum is in attendance, but for the transaction of any other

business or the performance of any other power or function of the

authority, the authority may act by a majority of the members present at

any meeting at which a quorum is in attendance. The authority may

delegate to one or more of its directors, or its officers, agents and

employees, such powers and duties as it may deem proper. The

commissioner of environmental protection of the city, the state

commissioner of environmental conservation, the director of management

and budget of the city, and the commissioner of finance of the city may

each, by written instrument, filed with and approved as to form by the

authority, designate a deputy or assistant in their respective

departments or offices, to perform, in their absence, their respective

duties under this title. The term "director" as used in this subdivision

shall include such persons so designated as provided herein. The

designation of such persons shall be deemed temporary only and shall not

affect the civil service or retirement rights of any persons so

designated.

5. Notwithstanding any inconsistent provisions of this or any other

law, general, special or local, or of any charter, no officer or

employee of the city or the state, shall be deemed to have forfeited or

shall forfeit his office or employment or any benefits provided under

the retirement and social security law by reason of his acceptance of

membership on the authority, provided, however, that a director who

holds such other public office or employment shall receive no additional

compensation for services rendered pursuant to this title, but shall be

entitled to reimbursement for his actual and necessary expenses incurred

in the performance of such services.

6. The authority and its corporate existence shall continue until

terminated by law, provided, however, that no such law shall take effect

so long as the authority shall have bonds or other obligations

outstanding unless adequate provision has been made for the payment or

satisfaction thereof. Upon termination of the existence of the

authority, all of the rights and properties of the authority then

remaining shall pass to and vest in the city except as otherwise may be

specified in such law.

7. It is hereby determined and declared that the authority and the

carrying out of its powers and duties are in all respects for the

benefit of the people of the city and the state for the improvement of

their health, welfare and prosperity and that such purposes are public

purposes and that the authority is and will be performing an essential

governmental function in the exercise of the powers conferred upon it by

this title.

8. Nothing in this title shall be construed to obligate the state in

any way in connection with the operations or obligations of the

authority.