N.Y. Public Authorities Law 3573 – Moneys received; department of health
§ 3573. Moneys received; department of health. Notwithstanding any provision of this article or any other provision of law to the contrary, so long as bonds issued by the dormitory authority to finance facilities for the department of health of the state of New York remain outstanding as defined in the bond resolution under which such bonds were issued, the following provisions shall be applicable:
Terms Used In N.Y. Public Authorities Law 3573
- 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.
- 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
- Lien: A claim against real or personal property in satisfaction of a debt.
- Oversight: Committee review of the activities of a Federal agency or program.
1. All moneys derived or resulting from the care, maintenance and treatment of patients at Roswell Park Cancer Institute or any other health facility owned or operated by the corporation or a subsidiary thereof, together with moneys received from fees, including parking fees, refunds, reimbursements, sales of property and miscellaneous receipts of the corporation or its subsidiaries attributable to Roswell Park Cancer Institute and other revenues of the corporation or its subsidiaries (other than gifts, grants, bequests and moneys received under research contracts, and clinical practice income received pursuant to a clinical practice plan established pursuant to subdivision fourteen of § 206 of the public health law) and any other net revenues received by the corporation from any of its subsidiaries or other entities shall be moneys of the department of health, whether collected or received by such corporation or any of its subsidiaries, and shall be paid into the health income fund as required by § 409 of the public health law. Such corporation or any subsidiary created hereunder shall receive any moneys of the department of health described herein as agent of the department of health and shall pay such moneys to the commissioner for deposit into the health income fund.
2. Neither the corporation nor any subsidiary thereof shall create or permit to be created any pledge, assignment, encumbrance or security interest in any moneys of the department of health required to be deposited or maintained in the department of health income fund pursuant to § 409 of the public health law or any agreement between the department of health and the dormitory authority, including investments and proceeds thereof, or the right of the department of health to receive or collect the same.
3. The state shall not give, grant, sell or convey, loan, license the use of or lease any property to the corporation or any subsidiary thereof except in compliance with the terms of any lease, sublease or other agreement between the dormitory authority and the department of health of the state of New York.
4. Neither the corporation nor any subsidiary thereof shall take any action, or suffer any action to be taken, which would adversely affect the exclusion of interest on any of the bonds issued by the dormitory authority to finance facilities for the department of health of the state of New York from gross income for purposes of federal income taxation. The department of health shall provide oversight of the corporation's adherence to this subdivision as more fully described in the agreement set forth in subdivision two of § 403 of the public health law.
5. No power conferred upon the corporation or any subsidiary thereof by this article or any other provision of law shall be exercised in a manner that is inconsistent with the terms of any lease, sublease or other agreement between the dormitory authority and the department of health of the state of New York.
6. No lien granted by the corporation or any subsidiary thereof pursuant to this title shall give any lienor the right to compel the sale of any health facility which is currently owned by the state or the dormitory authority and which comprises the Roswell Park Cancer Institute.