N.Y. Public Authorities Law § 2462: Definitions

* § 2462. Definitions. As used or referred to in this title, unless a

different meaning clearly appears from the context:

1. The term "state" shall mean the state of New York;

2. The term "authority" shall mean the corporate body created by

section two thousand four hundred sixty-three of this title;

3. The terms "bonds and notes" shall mean the bonds and notes

authorized in this title;

4. The term "participating municipality" shall mean any public benefit

corporation, city, county, town, village or any combination thereof

exercising its powers throughout the political subdivision in which a

sports facility is or is proposed to be located, which submits a plan

pursuant to the provisions of section twenty-four hundred sixty-five of

this title or which joins in the submission of such plan with such a

municipality or corporation;

5. The term "sports facility" shall mean a sports complex, stadium, or

arena and other related facilities suitable for the holding of athletic

or sporting events, including parking therefor;

6. The "comptroller" shall be the comptroller of the state;

7. The "commissioner of taxation and finance" shall be the

commissioner of taxation and finance of the state;

8. The term "state aid" shall mean any moneys payable by the

comptroller to any participating municipality pursuant to section

fifty-four of the state finance law and section one hundred twelve of

the highway law;

9. The term "amortized value" shall mean that for securities purchased

at a premium above or a discount below par, the value as of any given

date obtained by dividing the total amount of the premium or discount at

which such securities were purchased by the number of days remaining to

maturity on such securities at the time of such purchase and by

multiplying the amount so calculated by the number of days having passed

since the date of such purchase; and (a) in the case of securities

purchased at a premium, by deducting the product thus obtained from the

purchase price, and (b) in the case of securities purchased at a

discount, by adding the product thus obtained to the purchase price.

* NB (Disbanded March, 1980)