N.Y. Public Authorities Law 2652 – Definitions
§ 2652. Definitions. As used or referred to in this title, unless a different meaning clearly appears from the context:
Terms Used In N.Y. Public Authorities Law 2652
- 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
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
1. The term "authority" shall mean the public benefit corporation created by section twenty-six hundred fifty-three of this title.
2. The term "board" shall mean the members of the authority created in section twenty-six hundred fifty-three of this title.
3. The term "person" shall mean any natural person, partnership, limited liability company, association, joint venture or corporation, exclusive of a public corporation.
4. The term "service district" shall mean the Schenectady metroplex service district created by section twenty-six hundred fifty-four of this title.
5. The term "bonds" shall mean bonds and notes issued by the authority pursuant to this title.
6. The term "state" shall mean the state of New York.
7. The term "governor" shall mean the governor of the state of New York.
8. The term "comptroller" shall mean the comptroller of the state of New York.
9. The term "director of the budget" shall mean the director of the budget of the state of New York.
10. The term "municipality" shall mean a county, town, city, or village.
11. The term "county" shall mean the county of Schenectady.
12. The term "county legislature" shall mean the Schenectady county legislature.
13. The term "city" shall mean the city of Schenectady.
14. The term "mayor" shall mean the mayor of the city of Schenectady.
15. The term "city council" shall mean the city council of the city of Schenectady.
16. The term "metroplex facility" shall mean any facility, building, structure, park or other real property owned, leased, constructed, created, designed, developed, planned, financed, operated, renovated, administered, managed and/or maintained by the authority.
17. The term "park district" shall mean any area designated by the authority, within the service district, to be an historic preservation district, a special entertainment district, an educational entertainment district, or a recreational park district.
18. The term "construction" shall mean the acquisition, erection, building, alteration, improvement, increase, enlargement, extension, reconstruction, renovation or rehabilitation of any project financed under the provisions of this title; the inspection and supervision thereof; and the engineering, architectural, legal, fiscal and economic investigations and studies, surveys, designs, plans, working drawings, specifications, procedures and other actions preliminary or incidental thereto.
19. The term "real property" shall mean lands, waters, rights in lands or waters, structures, franchises and interests in land, including lands under water, riparian rights, property rights in air space and/or subsurface space and any and all other things and rights usually included within such term and includes also any and all interests in such property less than full title, such as easements permanent or temporary, rights-of-way, uses, leases, licenses and all other incorporeal hereditaments and every estate, interest or right legal or equitable.
20. The term "personal property" shall mean chattels and other tangible things of a movable or removable nature.
21. The term "cost" as applied to any project, includes the cost of construction, the cost of the acquisition of all property, rights in property, rights-of-way, easements, franchises, and interests, including real property and other property, both real, personal and mixed, improved and unimproved, the cost of demolishing, removing or relocating any buildings or structures on lands so acquired, including the cost of acquiring any lands to which such buildings or structures may be moved or relocated, the cost of all machinery, apparatus and equipment, financing charges, interest prior to, during and after construction to the extent not paid or provided for from revenues or other sources, the cost of engineering and architectural surveys, plans and specifications, the cost of consultant and legal services, the cost of guarantee, bond insurance or other credit support devices and the cost of other expenses necessary or incidental to the construction of any such project and the financing of the construction thereof, including the amount authorized in the resolution of the authority providing for the issuance of bonds to be paid into any reserve or other special funds from the proceeds of such bonds and the financing of the placing of any project in operation, including reimbursement to any municipality, state agency, the state, the United States government, or any other person for expenditures that would be costs of the project hereunder had they been made directly by the authority.
22. The term "project" shall mean a facility, building, structure, park or other real property, or any portion thereof, which the ownership, lease, transfer, design, development, planning, financing, creation, siting, construction, renovation, administration, operation, management and/or maintenance is authorized to be undertaken, in whole or in part, by the authority pursuant to this title.
23. The term "revenues" shall mean all monies, funds, rates, fees, tolls, rents, charges or other income derived by the authority from its planning, development, financing, construction, operation, management, or maintenance functions, or any monies or funds appropriated to the authority from the state or a municipality, or any monies or funds obtained from public or private donations to the authority or the tax revenues payable to the authority pursuant to section twelve hundred ten-C of the tax law.
24. The term "United States" shall mean the United States of America or any department, agency or instrumentality thereof acting on behalf of the United States of America.