N.Y. Public Authorities Law 2501 – Definitions
* § 2501. Definitions. As used or referred to in this title, unless a different meaning clearly appears from the context, the following terms shall mean and include:
Terms Used In N.Y. Public Authorities Law 2501
- 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.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
1. "Amortized value". For securities purchased at a premium above or a discount below par, the value as of any given date obtained by dividing the total amount of the premium or discount at which such securities were purchased by the number of days remaining to maturity on such securities at the time of such purchase and by multiplying the amount so calculated by the number of days having passed since the date of such purchase; and (a) in the case of securities purchased at a premium, by deducting the product thus obtained from the purchase price, and (b) in the case of securities purchased at a discount, by adding the product thus obtained to the purchase price.
2. "Authority". The corporation created by section twenty-five hundred three of this title.
3. "Board of estimate". The board of estimate of the city of New York.
4. "Bonds". The bonds authorized by this title.
5. "City". The city of New York.
6. "City council". The city council of the city of New York.
7. "Comptroller". The comptroller of the city of New York.
8. "Corporation counsel". The corporation counsel of the city of New York.
9. "Governor". The governor of the state of New York.
10. "Mayor". The mayor of the city of New York.
11. "Notes". The notes authorized by the title.
12. "Real property". Lands, including air and subsurface rights and lands under water, structures, franchises and interests in lands and any and all things usually included within the said terms, including not only fees simple absolute but also any and all lesser interests, such as easements, rights of way, uses, leases, licenses, and all other incorporeal heriditaments and every estate, interest or right, legal or equitable, including terms of years, and liens thereon by way of judgments, mortgages or otherwise, and also claims for damage to real estate.
13. "Sports facility". Real property in the city of New York but not in the borough of Brooklyn used or to be used primarily for the conduct of sports events, including a sports complex, stadium or arena and other related facilities suitable for the holding of athletic or sports events, including parking therefor.
14. "State". The state of New York.
* NB (Discontinued-Board of Directors never appointed)