N.Y. Public Authorities Law § 1285-p: State environmental infrastructure projects

§ 1285-p. State environmental infrastructure projects. In order to

effectuate the purposes of this title, the corporation shall have the

following additional special powers:

1. Subject to chapter fifty-nine of the laws of two thousand, but

notwithstanding any other provisions of law to the contrary, in order to

assist the corporation in undertaking the administration and the

financing of the design, acquisition, construction, improvement,

installation, and related work for all or any portion of any of the

following environmental infrastructure projects and for the provision of

funds to the state for any amounts disbursed therefor: (a) projects

authorized under the environmental protection fund, or for which

appropriations are made to the environmental protection fund including,

but not limited to municipal parks and historic preservation,

stewardship, farmland protection, non-point source, pollution control,

Hudson River Park, land acquisition, and waterfront revitalization; (b)

department of environmental conservation capital appropriations for

Onondaga Lake for certain water quality improvement projects in the same

manner as set forth in paragraph (d) of subdivision one of section

56-0303 of the environmental conservation law; (c) for the purpose of

the administration, management, maintenance, and use of the real

property at the western New York nuclear service center; (d) department

of environmental conservation capital appropriations for the

administration, design, acquisition, construction, improvement,

installation, and related work on department of environmental

conservation environmental infrastructure projects; (e) office of parks,

recreation and historic preservation appropriations or reappropriations

from the state parks infrastructure fund; (f) capital grants for the

cleaner, greener communities program; (g) capital costs of water quality

infrastructure projects and (h) capital costs of clean water

infrastructure projects the director of the division of budget and the

corporation are each authorized to enter into one or more service

contracts, none of which shall exceed twenty years in duration, upon

such terms and conditions as the director and the corporation may agree,

so as to annually provide to the corporation in the aggregate, a sum not

to exceed the annual debt service payments and related expenses required

for any bonds and notes authorized pursuant to section twelve hundred

ninety of this title. Any service contract entered into pursuant to this

section shall provide that the obligation of the state to fund or to pay

the amounts therein provided for shall not constitute a debt of the

state within the meaning of any constitutional or statutory provision

and shall be deemed executory only to the extent of moneys available for

such purposes, subject to annual appropriation by the legislature. Any

such service contract or any payments made or to be made thereunder may

be assigned and pledged by the corporation as security for its bonds and

notes, as authorized pursuant to section twelve hundred ninety of this

title.

2. The comptroller is hereby authorized to receive from the

corporation any portion of bond proceeds paid to provide funds for or

reimburse the state for its costs associated with any state

environmental infrastructure projects and to credit such amounts to the

capital projects fund or any other appropriate fund.

3. The maximum amount of bonds that may be issued for the purpose of

financing environmental infrastructure projects authorized by this

section shall be seventeen billion seven hundred fifty million one

hundred sixty thousand dollars $17,750,160,000, exclusive of bonds

issued to fund any debt service reserve funds, pay costs of issuance of

such bonds, and bonds or notes issued to refund or otherwise repay bonds

or notes previously issued. Such bonds and notes of the corporation

shall not be a debt of the state, and the state shall not be liable

thereon, nor shall they be payable out of any funds other than those

appropriated by the state to the corporation for debt service and

related expenses pursuant to any service contracts executed pursuant to

subdivision one of this section, and such bonds and notes shall contain

on the face thereof a statement to such effect.