New York Public Authorities Code § 1680-Q

State university of New York dormitory facilities
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* § 1680-q. State university of New York dormitory facilities. 1. As\nused in or referred to in this section, unless a different meaning\nappears from the context, the following terms shall have the following\nrespective meanings:\n  (a) "Agreement" means an agreement by and between the authority and\nthe state university entered into pursuant to this section.\n  (b) "Dormitory facilities revenue fund" means the fund established\npursuant to subdivision three of this section.\n  (c) "Dormitory facilities revenues" means all moneys, including rents,\nfees and charges, derived from the use or occupancy of dormitory\nfacilities.\n  (d) "Dormitory facility" means a dormitory, as such term is defined in\nparagraph (a) of subdivision two of section sixteen hundred seventy-six\nof this title.\n  (e) "Dormitory facility revenue bond" means any note or bond of the\nauthority (i) issued on or after the first day of April, two thousand\nthirteen for the purposes of financing dormitory facilities or\nrefinancing notes or bonds issued previously in connection with\ndormitory facilities, including notes or bonds issued to pay costs\nincurred in connection with the issuance of such notes or bonds, to fund\nany reserve for the payment of debt service on such bonds, to fund any\nreserve established for the improvement, repair, maintenance or\noperations of dormitory facilities, or to pay or provide for the payment\nof any note or bond previously issued for any such purpose, and (ii) is\npayable from moneys on deposit in the dormitory facilities revenue fund\nand is not payable from any revenue of the state.\n  (f) "Prior dormitory facility bond" means any note or bond of the\nauthority issued prior to April first, two thousand thirteen in\nconnection with dormitory facilities.\n  (g) "State university" means the state university of New York, a\ncorporation within the state education department and within the\nuniversity of the state of New York created by section three hundred\nfifty-two of the education law.\n  2. The authority may, from and after April first, two thousand\nthirteen, issue dormitory facility revenue bonds in an amount not to\nexceed one billion eight hundred forty-four million dollars.\nNotwithstanding any other rule or law, such bonds shall not be a debt of\nthe state of New York or the state university nor shall the state or the\nstate university be liable thereon, nor shall they be payable out of any\nfunds other than those of the authority constituting dormitory\nfacilities revenues. Such amount shall be exclusive of bonds and notes\nissued to fund any reserve fund or funds, cost of issuance, original\nissue premium, and to refund any prior dormitory facility bonds or any\ndormitory facility revenue bonds. The authority and the state university\nare hereby authorized to enter into agreements relating to, among other\nthings, the acquisition of property or interests therein, the\nconstruction, reconstruction, rehabilitation, improvement, equipping and\nfurnishing of dormitory facilities, the operation and maintenance of\ndormitory facilities, and the billing, collection and disbursement of\ndormitory facilities revenues, the title to which has been conveyed,\nassigned or otherwise transferred to the authority pursuant to paragraph\ny of subdivision two of section three hundred fifty-five of the\neducation law. In no event shall the state university have any\nobligation under the agreement to make payment with respect to, on\naccount of or to pay dormitory facilities revenue bonds, and such bonds\nshall be payable solely from the dormitory facilities revenues assigned\nto the authority by the state university. No debt shall be contracted\nexcept to finance capital works or purposes. Notwithstanding any other\nprovision of law, dormitory facility revenues shall not be deemed to be\nrevenues of the state.  Notwithstanding any other rule or law, the state\nshall not be liable for any payments on any dormitory facility revenue\

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