N.Y. Public Authorities Law 3051 – Legislative findings and statement of purposes
§ 3051. Legislative findings and statement of purposes. The legislature hereby finds and declares that it is necessary for a municipal assistance corporation to be created to assist the city of Troy in providing essential services to its inhabitants without interruption and in creating investor confidence in the soundness of the obligations of such city so that it may retain its ability to sell its obligations to the public.
Terms Used In N.Y. Public Authorities Law 3051
- City: means the city of Troy. See N.Y. Public Authorities Law 3052
- Corporation: means the corporate governmental agency created by section three thousand fifty-three of this title. See N.Y. Public Authorities Law 3052
- 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.
- Legislature: means the legislature of the state of New York. See N.Y. Public Authorities Law 3003
- Obligations: means bonds and notes. See N.Y. Public Authorities Law 3003
- State: means the state of New York. See N.Y. Public Authorities Law 3003
The legislature further finds that it is in the interest of the state of New York and the city of Troy that certain capital programs of the city of Troy be funded, and certain cumulative deficits of the city of Troy be liquidated, with the proceeds of debt obligations, including securities of the municipal assistance corporation for the city of Troy.