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7. To assist in the planning, development and construction of and the financing of the cost of any solid waste management facility to be located in any of the local governments whether or not such solid waste management facility is to be owned or operated by the authority, which assistance may include loans to any person or public corporation.
8. To collect, receive from the United States, the state, any of the local governments, any other municipality or public corporation or per son, solid waste for the purpose of treatinent or disposal thereof, with the right of the authority to sell and dispose of any products or byproducts (including, energy) of such process of treatinent or disposal, as the authority may deem proper.
9. To contract with any of the local governments, other municipali-
10. To make by-laws for the management and regulation of its affairs
11. With the consent of the chief executive officer of each of the af-
12. To make contracts and to execute all necessary or convenient in-
on any lands, waterways or premises for the purpose of nak ing surveys, soundings and examinations, any liability for which shall not exceed actual damages.
14. To borrow money and to issue bonds and to fund or refund the same, and to provide for the rights of the holders thereof.
15. To determine classifications of users, to fix and collect rates, rentals, fees and other charges for the use of the
facilities of, services rendered by, or any commodities furnished by, the authority, which rates, rentals, fees and charges may be different for each classification of user, so as to provide revenues sufficient at all times to pay, as the same shall become due, the principal and interest
the bonds of the authority, together with the maintenance of proper reserves therefor, in addition to paying, as the same shall become due, the penses of operating and maintaining the properties of the authority, together with proper reserves for debt service, depreciation, maintenance and contingencies and all other obligations and indebtedness of the authority. No such rates, rentals, fees and other charges for the use of the facilities of, or services rendered by, the authority shall be established, fixed or revised unless the authority shall have held public hearing at which the users of the facilities of, or services rendered by, the authority together with the owners of property served or to be served and others interested have had the opportunity to be heard concerning the same. Notice of such public hearing shall be published by the authority at least ten days before the date set therefor in at least one newspaper having a general circulation in each of the towns. Such notice shall set forth the date, time and place of such hearing and shall include a brief description of the matters to be EXPLANATION-Matter in italics is new; matter in brackets [ ] is old law
sidered at such hearing. A copy of the notice shall be filed in the of fice of the clerk of each of the towns and shall be available for
inspection by the public. At any such hearing, any person shall have an opportunity to be heard concerning the matters under consideration.
Any decision of the authority on matters considered at any such public hearing shall be in writing and shall be made available to any such
person in the office of the authority during regular office hours.. All rates, rentals, fees and other charges for the use of the facilities
or services rendered by, the authority shall be a lien upon the real property, upon which, in connection with which, services were provided. Any such liens shall take precedence over all other liens or encumbrances, except taxes or assessments. The treasurer of the authority shall prepare
and transmit to the respective legislative body of each town or the treasurer of the city, on or before the first day of December in each year, a list of properties within each respective local government for which such services were provided and which the payments of
rates, rentals, fees and other charges are in arrears for the period of thirty days or more after the last day fixed for payment of such rates, rentals, fees and other charges without penalty: The list shall contain a brief description of the properties for which such services were provided, the names of the persons or corporations liable to pay, for the same, and the amount chargeable to each, including penalties and interests* computed to December thirty-first of that year. Each legislative body shall levy such sums against the properties liable and shall state the amount thereof in a separate column in the annual tax rolls of the various local governments under the heading "solid waste disposal charge". Such amounts, when collected by the several municipal collectors or receivers of taxes, shall be paid over to each respective town treasurer the treasurer of the city, who immediately shall pay the same over to the treasurer of the authority. All of the provisions of the tax laws of the state covering enforcement and collection of unpaid taxes or assessments for special improvements not inconsistent herewith shall apply to the collection of such unpaid rates, rentals, fees and other charges.
16. To enter into agreements, in its discretion, to pay annual sums in lieu of taxes to the towns or the city or any other municipality, political subdivision or taxing district of the state in respect to any real property which is owned by the authority and located in
towns, city, municipality, political subdivision or taxing district.
17. To accept gifts, grants, loans or contributions from the United States, the state or any agency or instrumentality of either of them, or any municipality or from any person or public corporation, by bequest or otherwise, and to expend the proceeds for any corporate purposes of the authority.
18. To covenant and consent that the interest on any of its bonds or notes issued pursuant to this title shall be includible, under the United States Internal Revenue Code of 1986, or any subsequent corresponding internal revenue law of the United States, in gross income of the holders of the bonds or notes to the same extent and in the same manner that the interest on bills, bonds, notes or other obligations of the United States is includible in the gross income of the holders thereof under said Internal Revenue Code or any such subsequent law.
19. To do all things necessary or convenient to carry out the powers expressly given in this title.
§ 2052-f. Governmental capacity of the authority and local governments. The local governments, other municipalities within each of the local governments and the authority, in carrying out the respective powers and duties under this title shall be deemed to be acting in a goveramental capacity. The construction, operation and maintenance of any project financed in whole or in part by the authority shall be deemed to be the performance of
governmental function by the authority acting in its governmental
capacity, whether such project shall be owned or operated by the authority or by any person or other public corporation.
§ 2052-8. Transfer of officers and employees. Any officer or employee of any of the local governments under civil service who is selected by the authority may, with the consent of the chief executive officer of such local government, be transferred to the authority and shall be eligible for such transfer and appointment, without examination, to applicable offices, positions and employment under the authority. The
* So in original. ("interests" should be "interest".)
salary or compensation
such officer or employee, after such transfer, shall be paid by the authority. Any such officers or employees so transferred to the authority pursuant to this section, who are members of or benefit under any existing pension or retirement fund or system, shall continue to have all rights, privileges, obligations and status with respect to such fund or system as are now prescribed by law, but during the period of their employment by the authority, all contributions to such funds or system to be paid by the employer on account of such officers or employee's shall be paid by the authority. All such officers or employees so transferred to the authority who have been appointed to positions under the rules and classifications of the personnel officer of any of the local governments shall have the
status with respect thereto after transfer to the authority as they had under their original appointment.
§ 2052-h. Bonds of the authority. 1. The authority shall have the power and is hereby authorized from time to time to issue bonds, in such principal amounts as it may determine to be necessary to pay the cost of any project or for any other corporate purpose, including, but not limited to, the establishment of reserves to secure the bonds, the payment of principal of, premium, if any, and interest the bonds and the payment of incidental expenses in connection therewith. The authority shall have power and is hereby authorized to enter into such agreements and perform such acts as my* be required under any applicable federal legislation to secure a federal guarantee of any bonds. The aggregate principal amount of such bonds, notes or other obligations shall not exceed one hundred twenty-five million dollars ($125,000,000), excluding bonds, notes other obligations issued to refund or otherwise repay bonds, notes or other obligations theretofore issued for such purposes, provided, however, that upon any such refunding or repayment the total aggregate principal amount of outstanding bonds, notes or other obligations may be greater than
hundred twenty-five million dollars ($125,000,000) only if the present value of the aggregate debt service of the refunding or repayment bonds, notes or other obligations to be issued shall not exceed the present value of the aggregate debt service of the bonds, notes or other obligations so to be refunded or repaid. For purposes hereof, the present values of the aggregate debt service of the refunding or repayment bonds, notes or other obligations and of the aggregate debt service of the bonds, notes
other obligations refunded or repaid, shall be calculated by utilizing the effective interest rate of the refunding or repayment, bonds, notes or other obligations, which shall be that rate arrived at by doubling the semi-annual interest rate (compounded semi-annually) necessary to discount the debt service payments
the refunding or repayment bonds, notes or other obligations from the payment dates thereof to the date of issue of the refunding or repayment bonds, notes or other obligations and to the price bid including estimated accrued interest or proceeds received by the authority including estimated accrued interest from the sale thereof. The authority shall have power from time to time to refund any bonds by the issuance of new bonds whether the bonds to be refunded have or have not matured, and may issue bonds partly to refund bonds then outstanding and partly for any other corporate purpose. Bonds issued by the authority may be general obligations secured by the faith and credit of the authority or may be special obligations payable solely out of particular revenues or other moneys as may be designated in the proceed ings of the authority under which the bonds shall be authorized to be issued and subject to as priority only to any agreements with the holders of outstanding bonds pledging any particular properties, revenues or Doneys. The authority may also enter into loan agreements, lines of credit and other security agreements and obtain for or on its behalf letters of credit in each case for securing its bonds
* So in original. ("my" should be "may". )
notes. The bonds and notes shall be subject to such terms of redemption, bear interest at such rate or rates, be payable at such times, be in such form, either coupon or registered, carry such registration privileges, be executed in such manner, be payable in such medium of payment at such place or places, and be subject to such terms and conditions as such resolution may provide. Bonds may be sold at public or private sale for such price or prices as the authority shall determine. The state comptroller shall proinulgate rules in conformance with the state administrative procedure act governing the sale on a negotiated basis of bonds, notes and certificates of participation by public authorities and public benefit corporations made subject to such rules by law. No such sale by the authority on a negotiated başıs shall be conducted without prior approval of the state comptroller except as provided in such rules, which shall set forth the circumstances under which such approval shall not be required. Such rules shall be reviewed at least annually and updated as may be necessary. The authority may pay all expenses, premiums and commissions which it may deem necessary or advantageous in connection with the issuance and sale of bonds.
3. Any resolution resolutions authorizing bonds or any issue of bonds may contain provisions which my* be a part of the contract with the holders of the bonds thereby authorized as to:
(a) pledging all or any part of the revenues other moneys or property of the authority to secure the payment of the bonds, including but mot limited to, any contracts, earnings or proceeds of any, grant to the authority received from any private or public
to such agreements with bondholder's as may then exist;
(b) the setting aside of reserves and the creation of sinking funds and the regulation and disposition thereof;
(c) limitations on the purpose to which the proceeds from the sale of bonds may be applied;
(d) the rates, rents, fees and other charges to be fixed and collected by the authority and the amount to be raised in each
year thereby and the use and disposition of revenues;
(e) limitations on the right of the authority to restrict and regulate the use of the project or part thereof in connection with which bonds are issued;
(f) limitations the issuance of additional bonds, the terms upon which additional bonds may be issued and secured and the refunding of outstanding or other bonds; (8)
the procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated, the amount of bonds the holders of which must consent thereto, and the manner in which such consent may be given;
(h) the creation of special funds into which any revenues or moneys may be deposited;
(i) the terms and provisions of any trust,, deed or indenture securing the bonds under which the bonds may be issued;
(j) vesting in a trustee or trustees such properties, rights, powers and duties in trust as the authority may determine which may include any or all of the rights, powers and duties of the trustees appointed by the bondholders pursuant to section two thousand fifty-two-i of this title and limiting abrogating the rights of the bondholders to appoint a trustee under such section or limiting the rights, duties and powers of the trustee;
(k) defining the acts omissions to act which may constitute a default in the obligations and duties of the authority to the bondholders and providing for the rights and remedies of the bondholders in the event of such default, including as a matter of right the appointment of receiver; provided, however, that such rights and remedies shall not be inconsistent with the general laws of the state and other provisions of this title; (1) limitations
power of the authority to sell or otherwise dispose of any project or any part thereof;
(m) limitations on the amount of revenues and other moneys to be expended for operating, administrative or other expenses of the authority;
(n) the payment of the proceeds of bonds, revenues and other moneys to a trustee or other depository, and for the method of disbursement thereof with such safeguards and restrictions as the authority may determine; and
* So in original. ("my" should be "may". )
(0) any other matters of like or different character which in any way
4. In addition to the powers herein conferred upon the authority to secure its bonds, the authority shall have power in connection with the issuance of bonds to enter into such agreements as the authority may deen necessary, consistent or desirable concerning the use
disposition of its revenues or other moneys or property, including the mortgaging of any property and the entrusting, pledging creation
of any other security interest in any such revenues, moneys or property and the doing of any act, (including refraining from doing any act) which the authority would have the right to do in the absence of such agreements. The authority shall have power to enter into amendments
any such agreements within the powers granted to the authority, by this title and to perform such agreements. The provisions of any such agreements may be made a part of the contract
the holders of bonds of the authority.
5. Any provision of the uniform commercial code to the contrary notwithstanding, any piedge of or other security interest in revenues, poneys, accounts, contract rights, general intangibles or other personal property nade or created by the authority shall be valid, binding and perfected from the time when such pledge is made or other security interest attaches without any physical delivery of the collateral or further act, and the lien of any such pledge or other security interest shall be valid, binding and perfected against all parties having claims of any kind 'in tort, contract or otherwise against the authority irrespect ive of whether or not such parties have notice thereof. No instrument by which such a pledge or security interest is created nor any financing statement need be recorded or filed.
6. Whether or not the bonds are of such form and character as to be negotiable instruments under the terms of the uniform commercial code, the bonds are hereby made negotiable instruments within the meaning of and for all the purposes of the uniform commercial code, subject only to the provisions of the bonds for registration.
7. Neither the members of the authority nor any person executing bonds shall be liable personally thereon or be subject to any personal liability or accountability by reason of the issuance thereof.
8. The authority, subject to such agreements with bondholders as then day exist shall have power out of any moneys available therefor to purchase bonds of the authority, which shall thereupon be canceled, at a price not exceeding (a) if the bonds are then redeemable, the redemption price then applicable, plus accrued interest, to the next interest payment date or (b) if the bonds are not then redeemable, the redemption price applicable on the first date after such purchase upon which the bonds become subject to redemption plus accrued interest to the next interest payment date.
§ 2052-1. Remedies of bondholders. Subject to any resolution or resolutions adopted pursuant
to subdivision three of section two thousand fifty-two-h of this title:
1. In the event that the authority shall default in the payment of principal of or interest on any issue of bonds after
the same shall become due, whether
at maturity or upon call for redemption, and such default shall continue for a period of thirty days, or in the event that the authority shall fail or refuse to comply with the provisions of this title or shall default in any agreement made with the holders of any issue of bonds, the holders of twenty-five percent in aggregate principal amount of the bonds of such issue then outstanding, by instrument or instruments filed in the office of the clerk of the local governments and proved or acknowledged in the same manner as a deed to be recorded, may appoint a trustee to represent the holders of such bonds for the purpose
may and, upon written request of the holders of twenty five per centum in principal amount of such bonds outstanding, Me by action or proceeding in accordance with the civil practice law and rules, enforce all rights of the bondholders, including the right to require the authority to collect rents, rates and charges adequate to carry out any agreement as to, or
pledge of, such rents, rates and EXPLANATION-Matter in italics is new; matter in brackets [ ] is old law
here in provided.
2. Such trustee
shall in its own name :