Terms Used In New York Laws > General Municipal > Article 5-D - Sewage Disposal

• Advisory period: means a period of time from the effective date of this title until the date when (a) the authority shall determine that for each fiscal year, through and including fiscal year two thousand twelve, that the county has adopted and adhered to budgets covering all expenditures the results of which do not show a major operating funds deficit when reported in accordance with generally accepted accounting principles, subject to the provisions of this title, and shall further determine that in the then current fiscal year there is a substantial likelihood that the results of the county's operations will not show a deficit in the major operating funds when so reported and (b) the comptroller shall certify that securities were sold by or for the benefit of the county during the fiscal year immediately preceding such date and the then current fiscal year in the general public market satisfied the financing requirements of the county during such period and that there is a substantial likelihood that such securities can be sold in the general public market from such date through the end of the next succeeding fiscal year in amounts which will satisfy substantially all of the capital and cash flow requirements of the county during such period in accordance with the financial plan then in effect. See N.Y. Public Authorities Law 3951
• Comptroller: means the comptroller of the county. See N.Y. Public Authorities Law 3951
• Control period: means a period determined by the authority in accordance with section thirty-nine hundred fifty-nine of this title. See N.Y. Public Authorities Law 3951
• costs: means costs to finance (a) amounts necessary to finance a portion of the operating costs of the county or any covered organization as provided in sections thirty-nine hundred fifty-six and section thirty-nine hundred fifty-seven of this title, to the extent approved by the authority, (b) amounts necessary to accomplish a refunding, repayment or restructuring of all or a portion of the county's outstanding indebtedness or that of any covered organization, (c) cash flow needs of the county or any covered organization, (d) any object or purpose of the county or any covered organization, for which a period of probable usefulness is prescribed in section 11. See N.Y. Public Authorities Law 3951
• County: means Erie county. See N.Y. Public Authorities Law 3951
• County charter: means the county government law of Erie county, as amended. See N.Y. Public Authorities Law 3951
• County executive: means the county executive of the county. See N.Y. Public Authorities Law 3951
• Covered organization: means any governmental agency, public authority or public benefit corporation which receives or may receive moneys directly, indirectly or contingently from the county, but excluding the authority and (a) any other governmental agency, public authority or public benefit corporation specifically exempted from the provisions of this title by order of the authority upon application of such agency, public authority, or corporation to the authority or on the authority's own motion upon a finding by the authority that such exemption does not materially affect the ability of the county to adopt and maintain a budget pursuant to the provisions of this title, or (b) any state public authority defined in section two hundred one of the civil service law, unless specifically named above; provided, however, no municipality or school district shall be treated as a covered organization solely because it shares sales and compensating use tax revenue with the county, provided further, that the authority may terminate any exemption granted by order of the authority pursuant to this subdivision upon a determination that the circumstances upon which such exemption was granted are no longer applicable. See N.Y. Public Authorities Law 3951
• Director of the budget: means the director of the budget of the state. See N.Y. Public Authorities Law 3951
• ECFSA: means the public benefit corporation created by this title. See N.Y. Public Authorities Law 3951
• Financial plan: means the financial plan of the county and the covered organizations to be developed pursuant to section thirty-nine hundred fifty-seven of this title, as from time to time amended. See N.Y. Public Authorities Law 3951
• Legislature: means the legislature of the county. See N.Y. Public Authorities Law 3951
• Projected gap: means the excess, if any, of annual aggregate projected expenditures over annual aggregate projected revenues for the major operating funds in each year of a financial plan as determined by the county and certified by the authority. See N.Y. Public Authorities Law 3951
• public corporation: as used in this article shall mean a public corporation as defined in the general corporation law. See N.Y. General Municipal Law 119
• Revenues: means revenues of the authority consisting of county tax revenues, state aid revenues, and all other aid, rents, fees, charges, payments and other income and receipts paid or payable to the authority or a trustee for the account of the authority to the extent such amounts are pledged to bondholders. See N.Y. Public Authorities Law 3951
• State: means the state of New York. See N.Y. Public Authorities Law 3951
• State comptroller: means the comptroller of the state. See N.Y. Public Authorities Law 3951