N.Y. Public Authorities Law § 1835-b: Additional powers of the authority

§ 1835-b. Additional powers of the authority. The authority shall have

the following additional powers only with respect to making loans to

lenders for the purpose of financing loans for agricultural business

projects pursuant to this subtitle:

1. To prescribe standards and criteria for the granting of

applications for loans to lenders and for the making of loans for

agricultural business projects, which standards and criteria shall

implement the intent and purposes of this subtitle. In developing such

standards and criteria the authority shall consult with the

superintendent of financial services regarding the qualifications of

lenders and with the commissioner of agriculture and markets and the

commissioner of economic development regarding the standards and

criteria for the making of loans for business projects.

2. To make, and undertake commitments to make, loans to lenders under

such terms and conditions as shall require the proceeds of such loans to

lenders to be used by lenders to make loans for agricultural business

projects;

3. To make and execute contracts for the administration or servicing

of any loan to lender made by the authority and to pay the reasonable

value of services rendered to the authority pursuant to such contracts;

4. To borrow money and issue bonds and notes as provided in section

one thousand eight hundred thirty-five-d of this subtitle; and

5. To do any and all things necessary or convenient to carry out its

corporate purposes and exercise the powers given and granted in this

subtitle.