N.Y. Public Authorities Law § 1689-g: Local government infrastructure; authority financing of eligible wireless 911 capital equipment

§ 1689-g. Local government infrastructure; authority financing of

eligible wireless 911 capital equipment. 1. Definition. For the purposes

of this section "eligible wireless 911 capital equipment" shall include,

but not be limited to, radio equipment, computer equipment, dispatch

equipment, including consoles and monitors, telecommunications switches

and any other equipment necessary and attendant to a 911 wireless

telecommunications system.

2. Notwithstanding any other provision of law to the contrary, the

authority is hereby authorized to issue bonds, notes or other

obligations in one or more series including bonds, notes or other

obligations issued to finance one or more debt service reserve funds, to

pay the cost of issuance of such bonds, notes or other obligations, and

bonds, notes or other obligations issued to refund or otherwise repay

such bonds, notes or other obligations previously issued, for the

purpose of financing the costs of eligible wireless 911 capital

equipment for any political subdivisions eligible to receive aid

pursuant to a chapter of the laws of two thousand two. Such bonds, notes

or other obligations issued by the authority shall not be a debt of the

state or the political subdivision, and the state and the political

subdivision shall not be liable thereon, nor shall they be payable out

of any funds other than those made available by an eligible political

subdivision subject to annual appropriation by the political subdivision

as provided in subdivision three of this section or state aid pledged

and assigned by a political subdivision to the authority for debt

service payments and related expenses pursuant to any financing

agreement entered into pursuant to subdivision three of this section.

3. Notwithstanding any other provision of law to the contrary, in

order to assist the authority in undertaking the administration and

financing of wireless 911 capital equipment authorized pursuant to

subdivision two of this section, an eligible political subdivision is

hereby authorized to enter into one or more financing agreements with

the authority none of which shall exceed ten years in duration, upon

such terms and conditions as the authority and an eligible political

subdivision agree, so as to annually provide to the authority, in the

aggregate, a sum not to exceed the annual debt service payments and

related expenses required for the bonds, notes or other obligations

issued pursuant to this section. Any financing agreement entered into

pursuant to this subdivision shall not constitute debt of an eligible

political subdivision within the meaning of any constitutional or

statutory provisions and shall be deemed executory only to the extent of

moneys available for such purposes, subject to annual appropriations of

the eligible political subdivision. Any such financing agreement or any

payments made or to be made thereunder may be assigned or pledged by the

authority as security for its bonds, notes or other obligations

authorized by this section. The provisions of section one hundred nine-b

of the general municipal law shall not be applicable to any financing

agreement entered into between an eligible political subdivision and the

authority for the issuance of any bonds, notes, or other obligations for

any eligible 911 wireless capital equipment which may be financed

pursuant to this section. Notwithstanding the foregoing, any political

subdivision entering into an agreement with the authority shall be

subject to the provisions of subdivision five and paragraph (c) of

subdivision 6 of section one hundred nine-b of the general municipal

law.

4. Whenever the authority enters into a financing agreement with an

eligible political subdivision, each eligible political subdivision is

hereby authorized, in connection with the financing agreement, to assign

and pledge to the authority, a sufficient portion of any and all public

funds to be apportioned or otherwise to be made payable to the eligible

political subdivision by the state of New York, for payments required

under the financing agreement between the eligible political subdivision

and the authority.

5. All local and state officers are hereby authorized and required to

pay all funds so assigned and pledged pursuant to subdivisions three and

four of this section to the authority or, upon the direction of the

authority, to any trustee of any authority bond, note or other

obligation issued pursuant to a certificate filed by the authority

pursuant to the provisions of this section.

6. The authority shall submit annually to the governor, and the chairs

of the assembly ways and means and senate finance committees a report

which shall include but not be limited to, detailed information on the

financing activity pursuant to this section, and a detailed summary of

the financing agreements entered into with any political subdivision.