N.Y. Public Authorities Law § 1285-b: Additional special powers of the corporation with respect to projects and persons

§ 1285-b. Additional special powers of the corporation with respect to

projects and persons. In order to effectuate the purposes of this title,

the corporation shall have the following additional special powers; (1)

to extend credit and make loans to a person or persons for the

construction or acquisition of a project or for the reimbursement to a

person or persons for costs incurred in connection with a project

completed or not completed at the time of such credit or loan, which

credits or loans may, but need not, be secured by mortgages, contracts

or other instruments, upon such terms and conditions as the corporation

shall determine reasonable in connection with such credits or loans, and

(2) in the exercise of powers granted in this section in connection with

a project for a person or persons, to require the inclusion in any

contract, loan agreement or other instrument, of such provisions for the

financing of such project and such other financial and other covenants

applying to such person or persons, as the corporation may deem

necessary or desirable and to do all things and to execute all

instruments necessary and desirable in connection therewith. In

connection with the extension of any such credit or loan, the

corporation may fix and collect such fees and charges, including but not

limited to reimbursement of all costs of financing by the corporation as

the corporation shall determine to be reasonable. In connection with

such extension of credit or loan to such person or persons for the

construction or acquisition of a project as provided above, such person

or persons shall submit to the corporation an application for the

extension of credit or loan as set forth in the application. The

corporation may deny such application for any reason it deems

appropriate in the public interest. The extension of any such credit or

loan is subject to the ability of the corporation to secure the

necessary financing and subject to the obtaining by such person or

persons of certification by the commissioner of environmental

conservation that the project for which such credit or loan is extended

is intended to meet or exceed applicable state environmental standards

as set forth in law, rules and regulations.