7. To assist in the planning, development and construction of and the financing of the cost of any solid waste management facility to be located in any of the local governments whether or not such solid waste management facility is to be owned or operated by the authority, which assistance may include loans to any person or public corporation. son, 8. To collect, receive from the United States, the state, any of the local governments, any other municipality or public corporation or persolid waste for the purpose of treatment or disposal thereof, with the right of the authority to sell and dispose of any products or byproducts (including energy) of such process of treatment or disposal, as the authority may deem proper. with any of the local governments, other municipalities, state agencies, agencies or authorities created pursuant to state public corporations or persons within or without each of the local governments, for the purpose of receiving, treating and disposing of solid waste, including, without limitation, to contract with municipalities, state agencies, public corporations, or persons for the delivery of all solid waste generated within a stated area to a specific solid waste management facility. 9. To contract law, spe 10. To make by-laws for the management and regulation of its affairs and, subject to agreements with bondholders, for the regulation of the Use of any project or other property of the authority, which by-laws and all amendments thereto, duly certified by the secretary of the authority, shall be filed in the office of the authority and in the office of the clerk of each of the local governments, and to provide for the enforcement of such by-laws by legal or equitable proceedings which are or may be provided or authorized by law. In addition, bodies of the local governments and the other municipalities within the the legislative area of operation shall have power to prescribe that violations of cific by-laws of the authority, failure to comply with any by-law requiring the including, without limitation, any fee payment of a charge by any person in connection with the delivery of solid waste to any facility or any other use of any facility by such person, shall contions thereof by civil and criminal penalties. stitute offenses or infractions and provide for the punishment of viola or 11. With the consent of the chief executive officer of each of the affected local governments, to use officers local government or employees of each such costs for the services for such officers or employees. and to pay a proper portion of the compensation or 12. To struments, including evidences make contracts and to execute all necessary or convenient inof indebtedness, negotiable or non negotiable. 13. To enter making surveys, soundings and examinations, on any lands, waterways or premises for the purpose of any liability for which shall not exceed actual damages. 14. To borrow money and to issue bonds and to fund or refund the same, provide for the rights of the holders thereof. and to Το 15. rentals fees and other charges for the use of determine classifications of users, to fix and collect rates, the facilities of, or rendered by, or any commodities furnished by, the authority, tates, rentals, fees and charges may be different for each classo as to provide revenues sufficient at all times to on the services which sificat tion of user, pay, as the same shall become due, the principal and interest bonds of the authority, together with the maintenance of proper reserves therefor, penses of in addition to paying, as the same shall become due, the exand maintaining the properties of the authority, service, depreciation, mainteand all other obligations and indebtedness of operating together with proper reserves for debt nance and contingencies the authority. No such rates, rentals, fees and other charges for the use of the facilities of, or services rendered by, the authority shall be established, fixed or revised unless the authority shall have held a public hearing at which rendered by, the authority together with the owners of the users of the facilities of, or services or to be be pubtherefor in at least one newspaper having a general circulation in each of the Such notice shall set forth the date, time and place of such and shall include a brief description of the matters to be conEXPLANATION-Matter in italics is new; matter in brackets [ ] is old law towns. bearing sidered at such hearing. A copy of the notice shall be filed in the office of the clerk of each of the towns and shall be available for inspection by the public. At any such hearing, any person shall have an opportunity to be heard concerning the matters under consideration. Any decision of the authority on matters considered at any such public hearing shall be in writing and shall be made available to any such person in the office of the authority during regular office hours. All rates, rentals, fees and other charges for the use of the facilities of, or services rendered by, the authority shall be a lien upon the real property upon which, or in connection with which, services were provided. Any such liens shall take precedence over all other liens or encumbrances, except taxes or assessments. The treasurer of the authority shall prepare and transmit to the respective legislative body of each town or the treasurer of the city, on or before the first day of December in each year, a list of properties within each respective local government for which such services were provided and which the payments of rates, rentals, fees and other charges are in arrears for the period of thirty days or more after the last day fixed for payment of such rates, rentals, fees and other charges without penalty. The list shall contain a brief description of the properties for which such services were provided, the names of the persons or corporations liable to pay for the same, and the amount chargeable to each, including penalties and interests computed to December thirty-first of that year. Each legislative body shall levy such sums against the properties liable and shall state the amount thereof in a separate column in the annual tax rolls of the various local governments under the heading "solid waste disposal charge". Such amounts, when collected by the several municipal collectors or receivers of taxes, shall be paid over to each respective town treasurer or the treasurer of the city, who immediately shall pay the same over to the treasurer of the authority. All of the provisions of the tax laws of the state covering enforcement and collection of unpaid taxes or assessments for special improvements not inconsistent herewith shall apply to the collection of such unpaid rates, rentals, fees and other charges. 16. To enter into agreements, in its discretion, to pay annual sums in lieu of taxes to the towns or the city or any other municipality, political subdivision or taxing district of the state in respect to any real property which is owned by the authority and located in such towns, city, municipality, political subdivision or taxing district. city, accept gifts, grants, loans or contributions from the United States, the state or any agency or instrumentality of either of them, or any municipality or from any person or public corporation, by bequest or otherwise, and to expend the proceeds for any corporate purposes of the authority. 18. To covenant and consent that the interest on any of its bonds or notes issued pursuant to this title shall be includible, under the United States Internal Revenue Code of 1986, or any subsequent corresponding internal revenue law of the United States, in gross income of the holders of the bonds or notes to the same extent and in the same manner that the interest on bills, bonds, notes or other obligations of the United States is includible in the gross income of the holders thereof under said Internal Revenue Code or any such subsequent law. 19. To do all things necessary or convenient to carry out the powers expressly given in this title. § 2052-f. Governmental capacity of the authority and local governments. The local governments, other municipalities within each of the local governments and the authority in carrying out the respective powers and duties under this title shall be deemed to be acting in a governmental capacity. The construction, operation and maintenance of any project financed in whole or in part by the authority shall be deemed to be the performance of an essential governmental function by the authority acting in its governmental capacity, whether such project shall be owned or operated by the authority or by any person or other public corporation. 2052-g. Transfer of officers and employees. Any officer or employee of any of the local governments under civil service who is selected by the authority may, with the consent of the chief executive officer of such local government, be transferred to the authority and shall be eligible for such transfer and appointment, without examination, to applicable offices, positions and employment under the authority. The So in original. ("interests" should be "interest".) salary or compensation of any such officer or employee, after such transfer, shall be paid by the authority. Any such officers or employees so transferred to the authority pursuant to this section, who are members of or benefit under any existing pension or retirement fund or system, shall continue to have have all rights, privileges, obligations and status with respect to such fund or system as are now prescribed by law, but during the period of their employment by the authority, all contributions to such funds or system to be paid by the employer on account of such officers or employees shall be paid by the authority. All such officers or employees so transferred to the authority who have been appointed to positions under the rules and classifications of the personnel officer of any of the local governments shall have the same status respect thereto after transfer to the authority as they had under their original appointment. 2052-h. Bonds of the authority. 1. The authority shall have the power and is hereby authorized from time to time to issue bonds, in such principal amounts as it may determine to be necessary to pay the cost of any project or for any other corporate purpose, including, but not limited to, the establishment of reserves to secure the bonds, the payment of principal of, premium, if any, and interest with on the bonds and the payment of incidental expenses in connection therewith. The authority shall have power and is hereby authorized to enter into such agreements and perform such acts as my be required under any applicable federal legislation to secure a federal guarantee of any bonds. The aggregate ceed one hundred twenty-five million dollars ($125,000,000), Principal amount of such bonds, notes or other obligations shall not exexcluding bonds, notes or other obligations theretofore issued for such other obligations issued to refund or otherwise repay however, that upon any such refunding or repayment the total one hundred twenty-five million dollars bonds, notes or purposes; provided, tions may be greater than aggregate principal amount of outstanding bonds, notes or other obliga($125,000,000) only if the present value of the aggregate debt service of the refunding service issued shall not exceed the present value of the aggregate debt or repayment bonds, notes or other obligations to be notes or other obligations so to be refunded or repaid. of the bonds, For purposes hereof, the present values of the aggregate debt service of the refunding or repayment bonds, notes or other obligations and of the aggregate debt service of the refunded bonds, notes or other obligations SO or repaid, shall be calculated by utilizing the effective in on debt terest rate of the refunding or repayment bonds, notes or other obligations, which shall be that rate arrived at by doubling the semi-annual service payments interest rate (compounded semi-annually) necessary to discount the obligations from the payment dates thereof to the date of issue price bid including estimated accrued interest or proceeds received by the authority including estimated accrued interest thereof, The authority shall have power from time to time to refund any bonds by the issuance of new bonds whether the bonds to be refunded have or have not matured, and may issue bonds partly the refunding or repayment bonds, notes or other of the or other obligations and to the refunding, outstanding or repayment bonds, notes from the sale to refund bonds then and partly for any other corporate purpose. Bonds issued by may be special obligations payable solely out of the authority may be general obligations secured by the faith and credit particular revenues or other moneys as may be designated in the proceed of the ings of authority or hold the authority under which the bonds shall be authorized to be loan agreements, lines of issued and subject to as priority only to any agreements with the ers of outstanding bonds pledging any particular properties, revenues or Doneys. The authority may also enter into credit and other security agreements and obtain for or on its behalf letters of credit in each case for securing direct payment of any costs which the authority is authorized to pay. its bonds or to provide authorized by resolution of the authority, be in time or 2. Bonds shall be such denominat ions, bear such date or dates and mature at such times as newals thereof shall mature within five years from the date of the origSuch resolution shall provide, except that notes and any re inal issuance thirty years from the date of the original issuance of any such bonds or and bonds and any renewals thereof shall mature within So in original. ("my" should be "may".) EXPLANATION-Matter in italics is new; matter in brackets [ ] is old law notes. The bonds and notes shall be subject to such terms of redemption, bear interest at such rate or rates, be payable at such times, be in such form, either coupon or registered, carry such registration privileges, be executed in such manner, be payable in such medium of payment at such place or places, and be subject to such terms and conditions as such resolution may provide. Bonds may be sold at public or private sale for such price or prices as the authority shall determine. The state comptroller shall promulgate rules in conformance with the state administrative procedure act governing the sale on a negotiated basis of bonds, notes and certificates of participation by public authorities and public benefit corporations made subject to such rules by law. No such sale by the authority on a negotiated basis shall be conducted without prior approval of the state comptroller except as provided in such rules, which shall set forth the circumstances under which such approval shall not be required. Such rules shall be reviewed at least annually and updated as may be necessary. The authority may pay all expenses, premiums and commissions which it may deem necessary or advantageous in connection with the issuance and sale of bonds. 3. Any resolution or resolutions authorizing bonds or any issue of bonds may contain provisions which my be a part of the contract with the holders of the bonds thereby authorized as to: (a) pledging all or any part of the revenues, other moneys or property of the authority to secure the payment of the bonds, including but not limited to, any contracts, earnings or proceeds of any grant to the authority received from any private or public source subject to such agreements with bondholders as may then exist; (b) the setting aside of reserves and the creation of sinking funds and the regulation and disposition thereof; (c) limitations on the purpose to which the proceeds from the sale of bonds may be applied; (d) the rates, rents, fees and other charges to be fixed and collected by the authority and the amount to be raised in each year thereby and the use and disposition of revenues; (e) limitations on the right of the authority to restrict and regulate the use of the project or part thereof in connection with which bonds are issued; (f) limitations on the issuance of additional bonds, the terms upon which additional bonds may be issued and secured and the refunding of outstanding or other bonds; (g) the procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated, the amount of bonds the holders of which must consent thereto, and the manner in which such consent may be given; (h) the creation of special funds into which any revenues or moneys may be deposited; (i) the terms and provisions of any trust, deed or indenture securing the bonds under which the bonds may be issued; (j) vesting in a trustee or trustees such properties, rights, powers and duties in trust as the authority may determine which may include any or all of the rights, powers and duties of the trustees appointed by the bondholders pursuant to section two thousand fifty-two-i of this title and limiting or abrogating the rights of the bondholders to appoint a trustee under such section or limiting the rights, duties and powers of the trustee; (k) defining the acts or omissions to act which may constitute a default in the obligations and duties of the authority to the bondholders and providing for the rights and remedies of the bondholders in the event of such default, including as a matter of right the appointment of a receiver; provided, however, that such rights and remedies shall not be inconsistent with the general laws of the state and other provisions of this title; (1) limitations on the power of the authority to sell or otherwise dispose of any project or any part thereof; (m) limitations on the amount of revenues and other moneys to be expended for operating, administrative or other expenses of the authority; (n) the payment of the proceeds of bonds, revenues and other moneys to a trustee or other depository, and for the method of disbursement thereof with such safeguards and restrictions as the authority may determine; and So in original. ("my" should be "may".) (0) any other matters of like or different character which in any way affect the security or protection of the bonds or the rights and remedies of bondholders. 4. In addition to the powers herein conferred upon the authority to secure its bonds, the authority shall have power in connection with the issuance of bonds to enter into such agreements as the authority may deem necessary, consistent or desirable concerning the use or disposition of its revenues or other moneys or property, including the mortgaging of any property and the entrusting, pledging or creation of any other security interest in any such revenues, moneys or property and the doing of any act, (including refraining from doing any act) which the authority would' have the right to do in the absence of such agreements; The authority shall have power to enter into amendments of any such agreements within the powers granted to the authority by this title and to perform such agreements. The provisions of any such agreements may be authority. fur made a part of the contract with the holders of bonds of the 5. Any provision of the uniform commercial code to the contrary notwithstanding, any pledge of or other security interest in revenues, moneys, accounts, contract rights, general intangibles or other personal property made or' created by the authority shall be valid, binding and perfected from the time when such pledge is made or other security interest attaches without any physical delivery of the collateral or ther act, and the lien of any such pledge or other security interest Shall be valid, binding and perfected against all parties having claims of any kind' in tort, contract or otherwise against the authority ir respective of whether or not such parties have notice thereof. No instrument by which such a pledge or security interest is created nor any financing statement need be recorded or filed. 6. Whether or not the bonds are of such form and character as to be commercial code, negotiable instruments under the terms of the uniform of and for all the purposes of the uniform commercial code, subject only to the provisions of the bonds for registration. shall be liable personally thereon or be subject to any personal liability or accountability by reason of the issuance thereof. Neither the members of the authority nor any person executing bonds pur may exist shall have power out of any moneys available therefor to The authority, subject to such agreements with bondholders as then chase bonds of the authority, which shall thereupon be canceled, at a price not exceeding (a) if the bonds are then redeemable, the redemption price then applicable, payment date or (b) if the bonds are not then redeemable, the redemption price applicable plus accrued interest, to the next interest bonds become subject to redemption plus accrued interest to the next in on the first date after such purchase upon which the terest payment date. two 2052-1. Remedies of bondholders. Subject to any resolution or pursuant to subdivision three of section resolutions thousand fifty-two-h of this title: 1. In principal, become the event that the authority shall default in the payment of of or interest on any issue of bonds after the same shall whether at maturity or upon call for redemption, and such due default shall continue for a period of thirty days, or in the event that title or shall default in any agreement made with the holders of any isthe authority shall fail or refuse to comply with the provisions of this Sue of bonds, the holders of twenty-five percent in aggregate principal amount of the bonds of such issue then outstanding, by instrument or instruments filed in the office of the clerk of the local governments and proved or acknowledged in the same manner as a deed to be recorded, appoint a trustee to represent the holders of such bonds for the purpose herein provided. 2. Such trustee twenty-five per centum in principal amount of may and, upon written shall in its own name: may request of the holders of such bonds outstanding, (a) by action or proceeding in accordance with the civil practice law and rules, enforce all rights of the bondholders, including the right to require the authority carry out any agreement as to, or pledge of, to collect rents, rates and charges adequate to such rents, rates and EXPLANATION-Matter in italics is new; matter in brackets [ ] is old law |