Section 2799-SS. Additional bonds of the authority  


Latest version.
  • Notwithstanding any
      provision of this title or  of  any  other  law  to  the  contrary,  the
      authority   is   hereby  authorized  to  issue  bonds,  notes  or  other
      obligations in addition to  those  authorized  by  section  twenty-seven
      hundred  ninety-nine-gg  of this title in an amount outstanding of up to
      two billion five hundred million dollars to pay all costs in the  city's
      budget  (whether  or  not  included  or includable in the city's capital
      budget) which are, in the judgment of the mayor, related to  or  arising
      from  the  terrorist  attack on New York city that occurred on September
      eleventh, two thousand one. In addition to or in lieu of any revenues or
      other money that may be paid or payable to the  authority,  such  bonds,
      notes  or  other  obligations  may  be  secured  by and payable from the
      proceeds of other bonds, notes or other obligations of the authority  or
      federal  or state aid related to or arising from the terrorist attack on
      New York city that occurred on September eleventh, two thousand one.  In
      addition,  the  authority  may  issue  bonds, notes or other obligations
      without limitations as to amount, secured solely by and  payable  solely
      from  such  federal or state aid. The city, acting through the mayor, is
      hereby authorized to assign the right to receive  any  such  federal  or
      state  aid  to  the  authority  and, after such assignment, the right to
      receive such aid shall be the property of the  authority.  Bonds  issued
      pursuant  to  this section shall have a maximum maturity of up to thirty
      years.