47-C - Special Provisions Related to Certain Bonds and Notes.

NY Priv Hous Fin L § 47-C (2019) (N/A)
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(a) pledge or assign to the agency all or any portion of the revenues and monies received or to be received by such public corporation or officer, which may be available for the purpose of paying rentals for the use of the facilities constructed, acquired, reconstructed, rehabilitated or improved or to be constructed, acquired, reconstructed, rehabilitated or improved under such agreement, so that the payment of such rentals may be fully secured and protected; provided, however, that such pledge or assignment shall not extend to appropriations or advances from the state except appropriations or advances made specifically for the purpose of paying all or any part of such rentals;

(b) use and dispose of such revenues and monies, or any portions thereof, for the purpose of defraying, in whole or in part, (1) the cost of acquiring any real property for the purpose of constructing, acquiring, reconstructing, rehabilitating or improving facilities thereon which may be constructed, acquired, reconstructed, rehabilitated or improved by the agency pursuant to this article, (2) the cost of financing the construction, acquisition, reconstruction, rehabilitation or improvement of such facilities, and (3) the cost of acquiring the original furnishings, equipment, machinery and apparatus needed to furnish and equip such facilities upon the completion of work;

(c) set aside rental reserves and to agree to the maintenance, regulation and disposition thereof;

(d) agree to limitations on the purposes to which the proceeds of sale of agency notes or bonds may be applied and to the pledging of such proceeds to secure the payment of agency notes or bonds or of any issue thereof;

(e) agree to limitations on the making of additional leases, subleases or agreements with the agency or with others, and the terms upon which such additional leases, subleases or agreements may be made;

(f) recognize and give effect to such assignment, upon receipt of any notice of assignment by the agency of any such lease, sublease or other agreement with the agency, or of any of its rights under such lease, sublease or other agreement, and to pay the assignee thereof rentals or other payments then due or which may become due under any such lease, sublease or other agreement which has been so assigned by the agency; and

(g) agree to any other matters, of like or different character, which in any way affect the security or protection of the rental payments required to be made under the terms of such lease, sublease or other agreement with the agency. 6. (a) Any state university facility, as defined in section forty-seven-a of this article, which has been constructed, acquired, reconstructed, rehabilitated or improved, in whole or in part, out of monies advanced to the state university of New York, the state university construction fund, the state office of general services or the dormitory authority since August first, nineteen hundred sixty-two pursuant to appropriations or reappropriations as advances from the capital construction fund, and the lands upon which such a facility is located, may be leased or conveyed to the agency by the state university of New York, the state university construction fund or the dormitory authority in accordance with the provisions of subdivisions one through five of this section, notwithstanding that the construction, acquisition, reconstruction, rehabilitation or improvement of such facility may have been completed by the state university of New York, the state university construction fund, the dormitory authority or the state office of general services, or may have been undertaken or may hereafter be undertaken by the dormitory authority under agreement with the state university of New York or the state university construction fund.

(b) Subject to such agreements with third parties as may then exist, the state university of New York and the state university construction fund are hereby authorized and empowered to enter into leases, subleases and other agreements with the agency with respect to any state university facility described in paragraph (a), and the lands upon which such a facility is or may be located, in accordance with the provisions of section three hundred seventy-eight of the education law and the provisions of subdivisions one through five of this section; and the agency is hereby authorized and empowered to accept any lease or conveyance of any such state university facility, and the lands upon which such a facility is or may be located, to acquire, construct, reconstruct, rehabilitate or improve any such facility and to issue bonds and notes to provide sufficient funds therefor in accordance with the provisions of section forty-seven-a of this article and the provisions of subdivisions one through five of this section.

(c) Any mental hygiene facility, as defined in section forty-seven-b of this article, which has been constructed, acquired, reconstructed, rehabilitated or improved, in whole or in part, out of monies advanced or deemed to have been advanced to the health and mental hygiene facilities improvement corporation, the state department of mental hygiene or the office of general services, since April first, nineteen hundred sixty-three pursuant to appropriations or reappropriations as advances from the capital construction fund, and the lands upon which such a facility is located, may be leased or conveyed to the agency by the health and mental hygiene facilities improvement corporation or the commissioner of mental hygiene in accordance with the provisions of subdivisions one through five of this section, notwithstanding that the construction, acquisition, reconstruction, rehabilitation or improvement of such facility may have been completed by the health and mental hygiene facilities improvement corporation, the state department of mental hygiene or the office of general services.

(d) Subject to such agreements with third parties as may then exist, the health and mental hygiene facilities improvement corporation is hereby authorized and empowered to enter into leases, subleases and other agreements with the agency with respect to any mental hygiene facility described in paragraph (c), and the lands upon which such a facility is or may be located, in accordance with the provisions of subdivision four of section nine of the health and mental hygiene facilities improvement act and the provisions of subdivisions one through five of this section; and the agency is hereby authorized and empowered to accept any lease or conveyance of any such mental hygiene facility, and the lands upon which such a facility is or may be located, to acquire, construct, reconstruct, rehabilitate or improve any such facility, and to issue bonds and notes to provide sufficient funds therefor in accordance with the provisions of section forty-seven-b of this article and the provisions of subdivisions one through five of this section. 7. a. The agency shall have the power to acquire by lease or deed from the health and mental hygiene facilities improvement corporation any real property acquired by the corporation pursuant to the provisions of subdivision six of section nine of the health and mental hygiene facilities improvement act (i) for the purpose of constructing, reconstructing, rehabilitating or improving thereon one or more community mental health and retardation facilities or (ii) for the purpose of financing the acquisition, construction, reconstruction, rehabilitation or improvement thereon of one or more community mental health and retardation facilities, pursuant to the provisions of this article and the health and mental hygiene facilities improvement act. The agency is hereby authorized to lease or sublease such real property and facilities thereon to the corporation for the purpose of making the same available to a city or a county not wholly within a city, for use and occupancy in accordance with the provisions of a lease, sublease or other agreement between the corporation and such city or county. b. In the event that the agency shall fail, within five years after the date of a lease or conveyance of such real property from such city or county to the corporation, to construct, reconstruct, rehabilitate or improve the community mental health and retardation facility or facility thereon for which such lease or conveyance was made, as provided for in a lease, sublease or other agreement entered into by such city or county and the corporation, then, subject to the terms of any lease, sublease or other agreement undertaken by the agency, such real property and any facilities thereon shall revert to the corporation with right of re-entry thereupon, and such lease or deed shall be made subject to such condition of reverter and re-entry; provided, however, that as a condition precedent to the exercise of such right of re-entry the corporation shall pay to the agency an amount equal to the sum of the purchase price of such real property, the depreciated cost of any community mental health and retardation facility or facilities constructed, reconstructed, rehabilitated or improved thereon and all other costs of the agency incident to the acquisition of such lands and the financing of construction, reconstruction, rehabilitation or improvement relating to such community mental health and retardation facility or facilities, all as provided in the aforesaid lease, sublease or other agreement entered into with the corporation. c. No real property or interest therein shall be acquired by the agency pursuant to this subdivision unless the title thereto shall be approved by the attorney general. d. The attorney general shall pass upon the form and sufficiency and manner of execution of any deed of conveyance and of any lease or sublease of real property authorized to be acquired by the agency pursuant to this subdivision and the same shall not be effective unless such deed, lease or sublease shall be so approved by him.