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A08079 Summary:

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A08079 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         8079--A
 
                               2009-2010 Regular Sessions
 
                   IN ASSEMBLY
 
                                       May 4, 2009
                                       ___________
 
        Introduced  by  M.  of A. PARMENT, BACALLES, GIGLIO, O'MARA -- read once
          and referred to the Committee on Higher Education  --  recommitted  to
          the  Committee on Higher Education in accordance with Assembly Rule 3,
          sec. 2 -- committee discharged, bill  amended,  ordered  reprinted  as
          amended and recommitted to said committee
 

        AN  ACT  to amend the education law, the public authorities law, chapter
          297 of the laws of 1985 authorizing the  transfer  of  sponsorship  of
          Corning community college from the city school district of the city of
          Corning  to a community college region, and chapter 144 of the laws of
          1996 amending the education law relating to  the  establishment  of  a
          community  college  region  to sponsor Jamestown community college and
          authorizing the transfer of sponsorship of Jamestown community college
          from the city of Jamestown to a community college region, in  relation
          to capital financings of community college regions
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Short title. This act shall be known and may  be  cited  as

     2  the "community college region capital financing act of 2010".
     3    §  2.    Paragraph c of subdivision 1 of section 6304 of the education
     4  law is amended by  adding  a  new  undesignated  paragraph  to  read  as
     5  follows:
     6    Notwithstanding  any  provision of law to the contrary, in the case of
     7  community college regions, a community college regional board  of  trus-
     8  tees as finance board of the region may authorize the issuance of bonds,
     9  notes or other evidence of indebtedness or the effectuation of a financ-
    10  ing  transaction  by  the  community  college  region with the dormitory
    11  authority pursuant to the provisions of article eight of title  four  of
    12  the  public  authorities law to provide all or any portion of such costs

    13  for which a period of possible usefulness has been  established  in  the
    14  local  finance  law.    Notwithstanding  any other provision of law, the
    15  community college region shall itself have the power to borrow money for
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11049-02-0
        A. 8079--A                          2
 
     1  specific objects or purposes  or  a  class  or  classes  of  objects  or
     2  purposes  described  in  section  11.00  of  the  local  finance  law by
     3  adoption, by two-thirds of the voting strength of the regional board  of

     4  trustees  thereof, of a bond resolution as described in section 32.00 of
     5  the local finance law and shall  include  the  recitation  described  in
     6  section  80.00  of  the  local  finance  law. Said bond resolution shall
     7  include the power to enter into financing transactions with the dormito-
     8  ry authority in accordance with the provisions of article eight of title
     9  four of the public authorities law. Upon adoption  and  receipt  of  the
    10  approvals  described  in  subdivision ten of section sixty-three hundred
    11  ten of this article, the community college region shall publish a  legal
    12  notice  of  estoppel  as described in section 81.00 of the local finance
    13  law, which shall be applicable to said bond  resolution.    A  community

    14  college  region  is  hereby  authorized  to pledge any revenues or other
    15  monies to the payment of any obligations issued, or any financing agree-
    16  ment entered into with the dormitory authority.
    17    § 3. Subdivision 8 of section 6304 of the education law is amended  by
    18  adding a new paragraph c to read as follows:
    19    c.  For purposes of this subdivision, the reference to the local spon-
    20  sor of a community college may be deemed, in the  case  of  a  community
    21  college region, to alternatively refer to the community college regional
    22  board of trustees thereof.
    23    § 4. Subdivision 10 of section 6304 of the education law is amended by
    24  adding a new paragraph c to read as follows:
    25    c.  A  community college region shall have full power and authority to

    26  finance all or a portion of the capital costs of  a  regional  community
    27  college  facility  pursuant  to the provisions of article eight of title
    28  four of the public authorities law and to expend the proceeds  therefrom
    29  to pay such costs.
    30    §  5.  Section  6310  of  the education law is amended by adding a new
    31  subdivision 17 to read as follows:
    32    17. Notwithstanding any provision of this chapter to the  contrary,  a
    33  community  college  regional  board  of  trustees of a community college
    34  region shall be the local sponsor of  such  community  college  for  the
    35  purposes of entering into agreements with the dormitory authority of the
    36  state  of New York on behalf of the community college pursuant to subdi-

    37  visions nine, ten, eleven, twelve, thirteen,  fourteen  and  sixteen  of
    38  section  sixteen  hundred eighty of the public authorities law and shall
    39  have full authority to perform, on behalf of such community college, all
    40  obligations of the college  under  its  agreements  with  the  dormitory
    41  authority.
    42    §  6.  The  undesignated paragraph of subdivision 1 of section 1680 of
    43  the public authorities law, as separately amended by chapters 165,  538,
    44  624 and 625 of the laws of 1978, is amended to read as follows:
    45    A local sponsor as defined by subdivision three of section sixty-three
    46  hundred  one  of the education law, or as defined by subdivision four of
    47  section sixty-three hundred one of the education law with respect  to  a

    48  community  college  region,  a community college regional board of trus-
    49  tees, or, with respect to locally sponsored community  colleges  in  the
    50  city of New York, the city of New York or the board of education, as the
    51  case may be.
    52    §  7.  The  opening paragraph of subdivision 15 of section 1680 of the
    53  public authorities law, as amended by chapter 332 of the laws  of  1975,
    54  is amended to read as follows:
    55    In  order  to  effectuate  the  purposes  of this title, the following
    56  provisions shall apply to powers in connection  with  the  provision  of
        A. 8079--A                          3
 
     1  facilities  for  locally  sponsored community colleges except a facility
     2  for a locally sponsored community college in the city of New York  or  a

     3  facility  for  a  community  college  sponsored  by  a community college
     4  region:
     5    §  8.  Section  4  of  chapter 297 of the laws of 1985 authorizing the
     6  transfer of sponsorship of  Corning  community  college  from  the  city
     7  school district of the city of Corning to a community college region, is
     8  amended by adding a new undesignated paragraph to read as follows:
     9    Notwithstanding  any  other  provision  of  law, the community college
    10  region shall have the power to borrow  money  for  specific  objects  or
    11  purposes  or  a  class  or  classes  of objects or purposes described in
    12  section 11.00 of the local finance law by adoption, by two-thirds of the
    13  voting strength of the regional board of trustees  thereof,  of  a  bond

    14  resolution  as  described  in section 32.00 of the local finance law and
    15  shall include the recitation described in section  80.00  of  the  local
    16  finance  law. Said bond resolution shall include the power to enter into
    17  financing transactions with the dormitory authority of the state of  New
    18  York in accordance with the provisions of article eight of title four of
    19  the public authorities law.
    20    §  9. Section 6 of chapter 144 of the laws of 1996 amending the educa-
    21  tion law relating to the establishment of a community college region  to
    22  sponsor  Jamestown  community  college  and  authorizing the transfer of
    23  sponsorship of Jamestown community college from the city of Jamestown to
    24  a community college region, is amended  by  adding  a  new  undesignated
    25  paragraph to read as follows:

    26    Notwithstanding  any  other  provision  of  law, the community college
    27  region shall have the power to borrow  money  for  specific  objects  or
    28  purposes  or  a  class  or  classes  of objects or purposes described in
    29  section 11.00 of the local finance law by adoption, by two-thirds of the
    30  voting strength of the regional board of trustees  thereof,  of  a  bond
    31  resolution  as  described  in section 32.00 of the local finance law and
    32  shall include the recitation described in section  80.00  of  the  local
    33  finance  law. Said bond resolution shall include the power to enter into
    34  financing transactions with the dormitory authority of the state of  New
    35  York in accordance with the provisions of article eight of title four of
    36  the public authorities law.

    37    §  10.  Section  6310  of the education law is amended by adding a new
    38  subdivision 10-a to read as follows:
    39    10-a. Notwithstanding  the  provisions  of  subdivision  ten  of  this
    40  section,  upon  receipt  of the approvals set forth in such subdivision,
    41  the board of trustees of the community college region may finance a duly
    42  authorized specific object or purpose or class of objects or purposes by
    43  the issuance of bonds, notes or other evidence of indebtedness or pursu-
    44  ant to a financing transaction of the community college region with  the
    45  dormitory  authority  in accordance with the provisions of article eight
    46  of title four of the public authorities law.
    47    § 11. If any clause, sentence, subdivision, paragraph, section or part

    48  of this act be adjudged by any court of  competent  jurisdiction  to  be
    49  invalid,  such  judgment  shall  not  affect,  impair  or invalidate the
    50  remainder thereof, but shall be confined in its operation to the clause,
    51  sentence, subdivision,  paragraph,  section  or  part  thereof  directly
    52  involved  in  the  controversy  in  which  such judgment shall have been
    53  rendered.
    54    § 12. This act shall take effect immediately.