Bill S5698-2013

Authorizes the dormitory authority to finance facilities for Inner Harbor Project

Authorizes the dormitory authority to finance facilities for Inner Harbor Project.

Details

Actions

  • Jan 8, 2014: REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
  • Jun 21, 2013: RECOMMITTED TO RULES
  • Jun 18, 2013: ORDERED TO THIRD READING CAL.1463
  • Jun 18, 2013: COMMITTEE DISCHARGED AND COMMITTED TO RULES
  • Jun 5, 2013: REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

Meetings

Calendars

Votes

Memo

BILL NUMBER:S5698

TITLE OF BILL: An act to amend the public authorities law, in relation to authorizing the financing of facilities by the dormitory authority for Inner Harbor Project

PURPOSE:

This bill would authorize the dormitory authority to finance facilities at the Inner Harbor Project

SUMMARY OF PROVISIONS:

Section 1- Amends paragraph (b) of subdivision 2 of section 1676 of the public authorities law by adding a new undesignated paragraph to read as follows: Inner Harbor Project.

Section 2 - Amends subdivision 1 of section 1680 of the public authorities law by adding a new undesignated paragraph to read as follows: Inner Harbor Project.

Section 3 - Any contracts entered into by the dormitory authority pursuant to this act shall be deemed state contracts within the meaning of that term as set forth in article 15-A of the executive law, and Inner Harbor Project shall be deemed, for purposes of this act, a contracting agency as that term is used in such article.

Section 4 - Effective date.

JUSTIFICATION:

The City of Syracuse seeks to renovate the Syracuse Inner Harbor and has entered into an agreement with the Canal Corporation and a private developer to do so.

This bill will facilitate this revitalization by authorizing the Dormitory Authority to issue bonds to secure the necessary revenue for the Syracuse Inner Harbor project which will result in long term economic benefits for the City.

LEGISLATIVE HISTORY:

New bill

FISCAL IMPLICATIONS:

None

EFFECTIVE DATE:

This act shall take effect immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 5698 2013-2014 Regular Sessions IN SENATE June 5, 2013 ___________
Introduced by Sen. DeFRANCISCO -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Author- ities and Commissions AN ACT to amend the public authorities law, in relation to authorizing the financing of facilities by the dormitory authority for Inner Harbor Project 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: INNER HARBOR PROJECT. S 2. Subdivision 1 of section 1680 of the public authorities law is amended by adding a new undesignated paragraph to read as follows: INNER HARBOR PROJECT. 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 as set forth in article 15-A of the executive law, and Inner Harbor Project shall be deemed, for purposes of this act, a contracting agency as that term is used in such article. S 4. This act shall take effect immediately.

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