Section 6274. Administration of fund

(1)  For  the period beginning July
  first, nineteen hundred seventy-nine and ending  December  thirty-first,
  nineteen   hundred   seventy-nine,   the   fund  shall  continue  to  be
  administered by the trustees of the city university construction fund in
  office as of June thirtieth, nineteen  hundred  seventy-nine.  Effective
  January first, nineteen hundred eighty the fund shall be administered by
  seven trustees, among whom shall be two ex-officio trustees, one of whom
  shall  be the director of the division of the budget of the state of New
  York, or his or her  designee  and  the  other  of  whom  shall  be  the
  chairperson  of  the  board of trustees of the city university. The five
  other trustees shall be appointed as follows:
    (a) The governor shall appoint two trustees, one of whom  shall  be  a
  trustee  of  the  city university, the other of whom shall be subject to
  the advice and consent of the senate.
    (b) The mayor shall appoint one trustee, who shall be subject  to  the
  advice and consent of the senate.
    (c) The temporary president of the senate shall appoint one trustee.
    (d) The speaker of the assembly shall appoint one trustee.
    Each  trustee,  except  ex  officio  trustees,  shall serve for a term
  expiring at the end of the term of the officer making  the  appointment.
  In the event of a vacancy occurring in the office of a trustee by death,
  resignation,  termination  of membership on the board of trustees of the
  city university of New York, or otherwise, a successor shall  be  chosen
  in  the  same  manner  as was the trustee whose office became vacant, to
  serve for the balance of the unexpired term.
    (2) The chairperson and the vice-chairperson of the  trustees  of  the
  fund  shall  be  appointed  by  and  shall  serve at the pleasure of the
  governor.   The chairperson shall  preside  over  all  meetings  of  the
  trustees  and  shall  have such other duties as the trustees of the fund
  may direct. The vice-chairperson shall preside over all meetings of  the
  trustees  of  the  fund in the absence of the chairperson and shall have
  such other duties as the trustees of the fund may direct.
    (3) The trustees of the fund shall  serve  without  salary,  but  each
  trustee  shall  be  reimbursed  for  his,  or  her  actual and necessary
  expenses incurred in the performance of his or her official duties as  a
  trustee  of  the  fund.  The  trustees of the fund may engage in private
  employment or in a profession or business (if not  otherwise  prohibited
  from  so  doing  by  virtue  of any other public office), subject to the
  limitations contained in sections seventy-three and seventy-four of  the
  public  officers law. The fund shall, for the purposes of such sections,
  be a "state agency", and the trustees thereof shall be "officers" of the
  agency for the purposes of said sections.
    (4) Notwithstanding  any  inconsistent  provisions  of  law,  general,
  special  or  local, no officer or employee of the state of New York, any
  city, county, town or village, any other political or civil division  of
  the  state,  and  municipality,  any  governmental  entity operating any
  public school or college,  any  school  district  or  any  other  public
  special district, any public authority, commission or board or any other
  public  agency  or instrumentality or unit of government which exercises
  governmental powers under the laws of the state, shall  forfeit  his  or
  her  office  or  employment  by  reason  of  his  or  her  acceptance of
  appointment as a trustee, officer or agent of the fund.
    (5) The fund may delegate to one or more of its trustees, or officers,
  agents or employees, such powers and duties as  the  trustees  may  deem
  proper, but all contracts involving an estimated expense of ten thousand
  dollars  or  more  and  all  leases, subleases or other agreements to be
  entered into pursuant  to  this  article  shall  be  approved  prior  to
  execution by no less than four trustees of the fund.

    (6)  The  fund  may  appoint  officers, employees and agents as it may
  require and it will prescribe their duties and fix their compensation.
    (7)  On  or  before  November  fifteenth  of each year, the fund shall
  submit, and thereafter may resubmit, to the comptroller of the state  of
  New  York,  the  state  director  of  the  budget,  the city director of
  management and budget, the chairman of the senate finance committee, and
  the chairman of the assembly  ways  and  means  committee,  a  financial
  statement for the preceding city fiscal year, a report of its activities
  during  that  year, and a report on its program for both the current and
  next succeeding city fiscal years including but not limited to: (i)  the
  total  amount  of  instructional  and  non-instructional  fees  the fund
  estimates it will receive in the succeeding city fiscal year;  (ii)  the
  estimated  cost of the administration of the fund in the succeeding city
  fiscal year; (iii) the amounts, if any, of all rentals  and  such  other
  payments  estimated  to become due in the succeeding city fiscal year to
  the dormitory authority from the fund pursuant to any leases,  subleases
  or  other  agreements entered or to be entered into between the fund and
  the  dormitory  authority  prior  to  July   first,   nineteen   hundred
  eighty-five,  to  provide  for  senior  college facilities and community
  college facilities, or pursuant to any agreement  supplemental  thereto;
  (iv)  the  amounts,  if  any,  of  all  rentals  and such other payments
  estimated to become due in  the  succeeding  city  fiscal  year  to  the
  dormitory  authority  from the fund pursuant to any leases, subleases or
  other agreements between the fund and the dormitory authority entered or
  to be entered into on or after July first, nineteen hundred  eighty-five
  or pursuant to any agreement supplemental thereto, to provide facilities
  for  senior  colleges  and community colleges; and (v) the amount of all
  moneys anticipated to be transferred  to  the  city  university  in  the
  succeeding  city  fiscal  year pursuant to the provisions of subdivision
  (b) of section sixty-two hundred seventy-eight  of  this  article.  Such
  report  shall separately state the amounts of all rentals and such other
  payments estimated to become due in  the  succeeding  city  fiscal  year
  pursuant  to  any leases, subleases or other agreements between the fund
  and the dormitory  authority  which  are  allocable  to  senior  college
  facilities and community college facilities.