Section 1689-G. Local government infrastructure; authority financing of eligible wireless 911 capital equipment

1. Definition. For the purposes  of this section "eligible wireless 911 capital equipment" shall include,
  but not be limited to, radio  equipment,  computer  equipment,  dispatch
  equipment,  including consoles and monitors, telecommunications switches
  and any other equipment  necessary  and  attendant  to  a  911  wireless
  telecommunications system.
    2.  Notwithstanding  any  other  provision of law to the contrary, the
  authority  is  hereby  authorized  to  issue  bonds,  notes   or   other
  obligations  in  one  or  more  series  including  bonds, notes or other
  obligations issued to finance one or more debt service reserve funds, to
  pay the cost of issuance of such bonds, notes or other obligations,  and
  bonds,  notes  or  other obligations issued to refund or otherwise repay
  such bonds, notes  or  other  obligations  previously  issued,  for  the
  purpose  of  financing  the  costs  of  eligible  wireless  911  capital
  equipment  for  any  political  subdivisions  eligible  to  receive  aid
  pursuant to a chapter of the laws of two thousand two. Such bonds, notes
  or  other obligations issued by the authority shall not be a debt of the
  state or the political subdivision, and  the  state  and  the  political
  subdivision  shall  not be liable thereon, nor shall they be payable out
  of any funds other than those made available by  an  eligible  political
  subdivision subject to annual appropriation by the political subdivision
  as  provided  in  subdivision three of this section or state aid pledged
  and assigned by a  political  subdivision  to  the  authority  for  debt
  service   payments  and  related  expenses  pursuant  to  any  financing
  agreement entered into pursuant to subdivision three of this section.
    3. Notwithstanding any other provision of  law  to  the  contrary,  in
  order  to  assist  the  authority  in undertaking the administration and
  financing of wireless  911  capital  equipment  authorized  pursuant  to
  subdivision  two  of  this section, an eligible political subdivision is
  hereby authorized to enter into one or more  financing  agreements  with
  the  authority  none  of  which shall exceed ten years in duration, upon
  such terms and conditions as the authority  and  an  eligible  political
  subdivision  agree,  so  as to annually provide to the authority, in the
  aggregate, a sum not to exceed the  annual  debt  service  payments  and
  related  expenses  required  for  the  bonds, notes or other obligations
  issued pursuant to this section. Any financing  agreement  entered  into
  pursuant  to  this  subdivision shall not constitute debt of an eligible
  political subdivision  within  the  meaning  of  any  constitutional  or
  statutory provisions and shall be deemed executory only to the extent of
  moneys  available for such purposes, subject to annual appropriations of
  the eligible political subdivision. Any such financing agreement or  any
  payments made or to be made thereunder may be assigned or pledged by the
  authority  as  security  for  its  bonds,  notes  or  other  obligations
  authorized by this section. The provisions of section one hundred nine-b
  of the general municipal law shall not be applicable  to  any  financing
  agreement entered into between an eligible political subdivision and the
  authority for the issuance of any bonds, notes, or other obligations for
  any  eligible  911  wireless  capital  equipment  which  may be financed
  pursuant to this section. Notwithstanding the foregoing,  any  political
  subdivision  entering  into  an  agreement  with  the authority shall be
  subject to the provisions of  subdivision  five  and  paragraph  (c)  of
  subdivision  6  of  section  one hundred nine-b of the general municipal
  law.
    4. Whenever the authority enters into a financing  agreement  with  an
  eligible  political  subdivision, each eligible political subdivision is
  hereby authorized, in connection with the financing agreement, to assign
  and pledge to the authority, a sufficient portion of any and all  public

  funds  to be apportioned or otherwise to be made payable to the eligible
  political subdivision by the state of New York,  for  payments  required
  under the financing agreement between the eligible political subdivision
  and the authority.
    5.  All local and state officers are hereby authorized and required to
  pay all funds so assigned and pledged pursuant to subdivisions three and
  four of this section to the authority or,  upon  the  direction  of  the
  authority,  to  any  trustee  of  any  authority  bond,  note  or  other
  obligation issued pursuant to  a  certificate  filed  by  the  authority
  pursuant to the provisions of this section.
    6. The authority shall submit annually to the governor, and the chairs
  of  the  assembly  ways and means and senate finance committees a report
  which shall include but not be limited to, detailed information  on  the
  financing  activity  pursuant to this section, and a detailed summary of
  the financing agreements entered into with any political subdivision.