N.Y. Public Authorities Law § 3655: Declaration of need

§ 3655. Declaration of need. 1. The county shall determine and declare

whether it requests the authority to undertake a financing of costs. Any

such request shall be made by the county executive and approved by the

legislature. Any such financing shall be consistent with the adopted

budget and financial plan required under sections thirty-six hundred

sixty-six and thirty-six hundred sixty-seven of this title, as

applicable.

2. Upon declaration by the county of such need, the county executive

shall request that the authority provide financing in accordance with

the provisions of this title.

3. Upon approval by the authority, in its discretion in accordance

with the provisions of this title, of such financing request, the

authority may enter into agreements with the county, and the county,

acting by the county executive, approved by the legislature, may enter

into agreements with the authority in accordance with the provisions of

this title as to the financing of costs by the authority, the

application of tax revenues to the authority to secure its bonds, and

further assurances in respect of the authority's receipt of such

revenues and the fiscal affairs of the county, including but not limited

to the manner of preparation of budget reports and financial plans as

provided for in sections thirty-six hundred sixty-six and thirty-six

hundred sixty-seven of this title, as applicable. The authority's

revenues shall not be deemed funds of the county. Any such agreements

may be pledged by the authority to secure its bonds and may not be

modified thereafter except as provided by the terms of the pledge.

4. Such agreements shall (a) describe the particular financeable costs

to be financed in whole or in part by the authority, (b) describe the

plan for the financing of the costs, (c) set forth the method by which

and by whom and the terms and conditions upon which money provided by

the authority shall be disbursed to the county, (d) where appropriate,

provide for the payment of such costs by the county under such contracts

as shall be awarded by the county or for the county to make a capital

contribution of such proceeds as county funds to another entity for the

payment or reimbursement of such costs, and (e) require every contract

entered into by the county, or another entity receiving funds from the

county, for costs to be financed in whole or in part by the authority to

be subject to the provisions of the county charter and other applicable

laws governing contracts of the county or such entity, as the case may

be. Nothing contained in this title shall relieve or modify the

application to the county or any entity acting on behalf of the county

or any covered organization of the requirements of law relating (i) to

contracts for procurement, design, construction, services and materials,

or (ii) the provisions of section two hundred twenty of the labor law,

or (iii) the provisions of article five-A of the general municipal law.

5. At least annually, commencing no more than one year after the date

on which authority bonds are first issued, the county executive shall

report to the authority, the comptroller, the legislature, the state

comptroller, the chairs of the senate finance committee and the assembly

ways and means committee, and the director of the budget on the costs

financed by the authority and the amount of such financing over the past

year, which report shall describe, by reference to the specific items in

the county's budget or financial plan, its compliance therewith.