N.Y. Public Authorities Law § 2435-a: Special program agreements

§ 2435-a. Special program agreements. (1) In order to fulfill the

purposes of this title and to provide a means by which the special

program municipalities may (a) receive moneys to refund certain property

taxes determined to be in excess of state constitutional tax limits or

to reimburse the special program municipalities for the prior refunding

of such taxes or (b) receive moneys to be applied to the cost of

settling litigation involving the city school districts of special

program municipalities and the teachers' unions in such special program

municipalities, or (c) receive moneys for the financing of public

improvements to be applied to the cost of the reconstruction,

rehabilitation or renovation of an educational facility pursuant to the

provisions of subdivision (b) of section sixteen of chapter six hundred

five of the laws of two thousand, or (d) receive moneys for the

financing of public improvements to be applied to the cost of a project

for design, reconstruction or rehabilitation of a school building

pursuant to the provisions of section fourteen of the city of Syracuse

and the board of education of the city school district of the city of

Syracuse cooperative school reconstruction act, or (e) receive moneys

for the financing of public improvements to be applied to the cost of a

project for design, reconstruction or rehabilitation of a school

building, or the construction of a new school building, pursuant to the

provisions of section twelve of the Yonkers city school district joint

schools construction and modernization act, and notwithstanding any

general or special law to the contrary, the agency and each special

program municipality are hereby authorized to enter into one or more

special program agreements, which special program agreements shall,

consistent with the provisions of this title, contain such terms,

provisions and conditions as, in the judgment of the agency, shall be

necessary or desirable. Each special program agreement shall specify the

amount to be made available to the respective special program

municipality from the proceeds of an issue of special program bonds and

shall require such special program municipality, subject to

appropriation by the appropriate legislative body of such special

program municipality, to make payments to the agency in the amounts and

at the times determined by the agency to be necessary to provide for

payment of such issue of special program bonds and such other fees,

charges, costs and other amounts as the agency shall in its judgment

determine to be necessary or desirable.

(2) Any special program agreement entered into pursuant to subdivision

one of this section shall provide that the obligation of the special

program municipality executing such special program agreement to fund or

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

special program municipality within the meaning of any constitutional or

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

moneys available and that no liability shall be incurred by such special

program municipality beyond the moneys available for the purpose, and

that such obligation is subject to annual appropriation by the

appropriate legislative body of such special program municipality.