N.Y. Public Authorities Law § 552: Triborough bridge and tunnel authority

§ 552. Triborough bridge and tunnel authority. 1. A board, to be known

as "Triborough bridge and tunnel authority" is hereby created. Such

board shall be a body corporate and politic constituting a public

benefit corporation. It shall consist of seventeen members, all serving

ex officio. Those members shall be the persons who from time to time

shall hold the offices of chairman and members of metropolitan

transportation authority. The chairman of such board shall be the

chairman of metropolitan transportation authority, serving ex officio,

and, provided that there is an executive director of the metropolitan

transportation authority, the executive director of the authority shall

be the executive director of the metropolitan transportation authority,

serving ex officio. Notwithstanding any provision of law to the

contrary, the chairman shall be the chief executive officer of the

authority and shall be responsible for the discharge of the executive

and administrative functions and powers of the authority. The chairman

and executive director, if any, each shall be empowered to delegate his

or her functions and powers to the executive officer of the Triborough

bridge and tunnel authority or to such person as may succeed to the

powers and duties of said executive officer. The chairman and other

members of the board hereby created, and the executive director, if any,

shall not be entitled to compensation for their services hereunder but

shall be entitled to reimbursement for their actual and necessary

expenses incurred in the performance of their official duties.

2. A majority of the whole number of members of the authority then in

office shall constitute a quorum for the transaction of any business or

the exercise of any power of the authority. Except as otherwise

specified in this title for the transaction of any business or the

exercise of any power of the authority, the authority shall have the

power to act by a majority vote of the members present at any meeting at

which a quorum is in attendance and except further, that in the event of

a tie vote the chairman shall cast one additional vote. For the purposes

of the voting and quorum requirements of this subdivision, the voting

and quorum requirements set forth in subdivision three of section twelve

hundred sixty-three of this chapter and in any by-law of the

metropolitan transportation authority adopted pursuant to the provisions

of such subdivision shall be applicable hereto. Such board and its

corporate existence shall continue only for a period of five years and

thereafter until all its liabilities have been met and its bonds, notes

and other obligations have been paid in full or such liabilities or

bonds, notes or other obligations have otherwise been discharged,

including bonds, notes or other obligations issued by the metropolitan

transportation authority that are payable in whole or in part by

revenues of the authority. When all liabilities incurred by the

authority of every kind and character have been met and all its bonds,

notes and other obligations have been paid in full, including bonds,

notes or other obligations issued by the metropolitan transportation

authority that are payable in whole or in part by revenues of the

authority, or such liabilities or bonds, notes or other obligations have

otherwise been discharged, all rights and properties of the authority

shall pass to and be vested in the city, except those rights and

properties held by it relating to the convention center which shall pass

to and be vested in the state. The authority shall retain full

jurisdiction and control over all its projects, with the right and duty,

subject to the limitations of subdivision nine of section five hundred

fifty-two-a of this title, to charge tolls and collect revenues

therefrom, for the benefit of the holders of any of its bonds, notes or

other obligations or other liabilities, even if not issued or incurred

in connection with the project. Upon the authority's ceasing to exist

all its remaining rights and properties shall pass to the city, except

those rights and properties held by it relating to the convention center

which shall pass to the state.

3. Notwithstanding any inconsistent provisions of this or any other

law, general, special or local, no officer or employee of the state or

of any public corporation as defined in the general corporation law

shall be deemed to have forfeited or shall forfeit his office or

employment or any benefits provided under the retirement and social

security law or under any public retirement system maintained by the

state or any of its subdivisions by reason of being a member or the

chairman of the authority.