Section 24. Corporation for the benefit of the city of New York

1.
  Notwithstanding any provision of state or local law,  the  city  of  New
  York  is  hereby  authorized  to  provide  for  the creation of a single
  not-for-profit corporation subject to section fourteen hundred eleven of
  the not-for-profit corporation law,  except  to  the  extent  that  such
  section  is inconsistent with this section, which corporation shall have
  the purpose, among others, of financing  or  refinancing  costs  arising
  from or related to the closing of Freshkills landfill.
    2.  Such corporation shall have the authority to issue and sell one or
  more series or classes of bonds, notes and other obligations  from  time
  to  time on behalf of the city of New York to finance or refinance costs
  relating to the closure of the Freshkills Landfill.  Such  bonds,  notes
  and  other  obligations  shall  not constitute a debt or indebtedness of
  such city and, together with the income therefrom, shall be exempt  from
  taxation, except for transfer and estate taxes.
    3.  The  incorporation  of  TSASC, Inc. under section fourteen hundred
  eleven of the  not-for-profit  corporation  law,  and  the  approval  of
  articles  of  incorporation  and bylaws for such corporation, are hereby
  ratified and shall be deemed to meet the requirements of  this  section,
  notwithstanding  that such requirements were enacted after such creation
  and approval, and such corporation shall be treated for all purposes  as
  if it had been formed by and pursuant to the provisions of this section.
  TSASC, Inc. shall be deemed to be the corporation formed pursuant to the
  authorization provided in subdivision one of this section.
    4.  The provisions of this section shall not be deemed or construed to
  alter or impair any other power of the city of New York to  provide  for
  the  creation  of  not-for-profit  corporations  pursuant  to  any other
  applicable provision of law, but shall be in addition to any other  such
  power.