N.Y. Public Authorities Law 3039 – Review by the corporation
* § 3039. Review by the corporation. In order to determine whether the city has taken or is taking action to effect compliance with any conditions imposed pursuant to section three thousand thirty-eight of this chapter, the corporation may from time to time conduct a review of the records, accounts, budgets, forecasts, projections and other relevant materials of the city. The corporation may conduct such review by using (i) its own employees, (ii) its agents, or (iii) any state employees provided to the corporation for such purpose. The city shall make available for such review all books and records, and shall furnish copies of all financial statements, budgets, forecasts, projections, information or corrective action taken by the city in response to any notices from the corporation and all information related to the foregoing, as requested by the persons conducting such review, and shall make its officers and employees available to and shall otherwise cooperate with such persons to permit such review to be completed as promptly as possible.
Terms Used In N.Y. Public Authorities Law 3039
- City: means the city of New York. See N.Y. Public Authorities Law 3032
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means the corporate governmental agency created by section three thousand thirty-three of this chapter. See N.Y. Public Authorities Law 3032
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- State: means the state of New York. See N.Y. Public Authorities Law 3003
* NB The corporation shall continue for a term ending the later of July 1, 2008 or one year after its liabilities have been fully paid and discharged per § 3033 sub 1.