N.Y. Public Authorities Law § 3003: Definitions

§ 3003. Definitions. As used in this article, the following words and

terms shall have the following meanings unless the context shall

indicate another or different meaning or intent:

1. "Municipality" means any city in the state.

2. "State" means the state of New York.

3. "Governor" means the governor of the state of New York.

4. "Comptroller" means the comptroller of the state of New York.

5. "Director of the budget" means the director of the budget of the

state of New York.

6. "Legislature" means the legislature of the state of New York.

7. "Special law" means the special law of the legislature pursuant to

which a municipal assistance corporation is created.

8. "Municipal assistance corporation" means a corporation created

pursuant to section three thousand ten of this article.

9. "Bonds" and "notes" means bonds and notes, respectively, issued by

a municipal assistance corporation pursuant to this article.

10. "Obligations" means bonds and notes.

11. "Amortized value" means 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.

12. "Revenues" means all federal or state aid, rents, fees, charges,

payments and other income and receipts paid or payable to a municipal

assistance corporation or for the account of a municipal assistance

corporation, including any payment permitted or required to be made to

such a corporation by this article.

13. "Board of directors" means the board of directors of a municipal

assistance corporation.