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Corporations, Authorities and Commissions: Apr 30, 2012

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Active List: May 7, 2012 , Floor Calendar: May 1, 2012 , Floor Calendar: May 2, 2012 , Floor Calendar: May 7, 2012

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Memo

BILL NUMBER:S5612

TITLE OF BILL: An act to amend the public authorities law, in relation to authorizing the dormitory authority to construct and finance certain facilities of Xavier High School in New York City

PURPOSE: Allow  for  the  refinancing  and/or  financing  by the New York State Dormitory Authority of projects associated with Xavier High School  in New York City

JUSTIFICATION: This  legislation  would  allow Xavier High School, located at 30 West 16th Street, to be added to the  list  of  eligible  institutions  for which  the  Dormitory  Authority  of the State of New York may, at the Authority's discretion, issue tax-exempt bonds for construction.

LEGISLATIVE HISTORY: New Bill.

FISCAL IMPLICATIONS: To be determined.

EFFECTIVE DATE: Immediately.

Text

STATE OF NEW YORK
________________________________________________________________________

5612

2011-2012 Regular Sessions

IN SENATE

June 7, 2011
___________

Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Corporations,  Authorities
  and Commissions

AN  ACT  to amend the public authorities law, in relation to authorizing
  the dormitory authority to construct and finance certain facilities of
  Xavier High School in New York City

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Paragraph  (b)  of  subdivision  2 of section 1676 of the
public authorities law is amended by adding a new undesignated paragraph
to read as follows:
  XAVIER HIGH SCHOOL, FOR THE FINANCING OR REFINANCING, OR REIMBURSEMENT
OF THE COSTS OF THE AQUISITION,  DESIGN,  CONSTRUCTION,  RECONSTRUCTION,
REHABILITATION,  IMPROVEMENT,  FURNISHING AND EQUIPPING OF, OR OTHERWISE
PROVIDING FOR, XAVIER HIGH SCHOOL AT ITS FACILITY  LOCATED  AT  30  WEST
16TH  STREET  IN THE CITY OF NEW YORK, TO SERVE AS A SCHOOL FOR STUDENTS
IN GRADES NINE THROUGH TWELVE; PROVIDED, HOWEVER, THAT THE AGGREGATE SUM
OF ANY BONDS ISSUED FOR SUCH PURPOSE SHALL NOT EXCEED FIFTY-FIVE MILLION
DOLLARS.
  S 2. Subdivision 1 of section 1680 of the public  authorities  law  is
amended by adding a new undesignated paragraph to read as follows:
  XAVIER HIGH SCHOOL, FOR THE FINANCING OR REFINANCING, OR REIMBURSEMENT
OF  THE  COSTS  OF THE AQUISITION, DESIGN, CONSTRUCTION, RECONSTRUCTION,
REHABILITATION, IMPROVEMENT, FURNISHING AND EQUIPPING OF,  OR  OTHERWISE
PROVIDING  FOR,  XAVIER  HIGH  SCHOOL AT ITS FACILITY LOCATED AT 30 WEST
16TH STREET IN THE CITY OF NEW YORK, TO SERVE AS A SCHOOL  FOR  STUDENTS
IN GRADES NINE THROUGH TWELVE; PROVIDED, HOWEVER, THAT THE AGGREGATE SUM
OF ANY BONDS ISSUED FOR SUCH PURPOSE SHALL NOT EXCEED FIFTY-FIVE MILLION
DOLLARS.
  S 3. Any contracts entered into by the dormitory authority pursuant to
this act shall be deemed state contracts within the meaning of that term

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10907-01-1
S. 5612                             2

as  set  forth  in  article 15-A of the executive law, and the authority
shall be deemed, for the purposes of this act, a contracting  agency  as
that term is used in such article.
  S 4. This act shall take effect immediately.