Public Authorities Law § 1599-j · Title 14. City of Schenectady Parking Authority
Notes of the authority
Text — Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
* § 1599-j. Notes of the authority. The authority shall have power from time to time to issue notes and from time to time to issue renewal notes (herein referred to as notes), maturing not later than five years from their respective original dates in an amount not exceeding at any time the amount of bonds authorized by subdivision one of section fifteen hundred ninety-nine-i of this title minus the amount of bonds outstanding on the date of calculation, for any purpose or purposes for which bonds may be issued, whenever the authority shall determine that payment thereof can be made in full from any moneys or revenues which the authority expects to receive from any source. Such notes may, among other things, be issued to provide funds to pay preliminary costs of surveys, plans or other matters relating to any proposed project. The authority may pledge such moneys or revenues (subject to any other pledge thereof) for the payment of the notes and may in addition secure the notes in the same manner and with the same effect as herein provided for bonds. The notes shall be issued in the same manner as bonds. The authority shall have power to make contracts for the future sale from time to time of the notes, by which the purchasers shall be committed to purchase the notes from time to time on terms and conditions stated in such contracts, and the authority shall have power to pay such consideration as it shall deem proper for such commitments. In case of default on its notes or violation of any of the obligations of the authority to the noteholders, the noteholders shall have all the remedies provided herein for bondholders. Such notes shall be as fully negotiable as the bonds of the authority.
* NB Authority ceased to exist 08/05/2002
* NB There are 4 § 1599-j's
Source of truth
- Edition
- Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
- Official file
- https://legislation.nysenate.gov/pdf/laws/PBA1599-J%2A4
- Text hash
- sha256 b339be0d2648a3ca8571f3a757cc4fa2d5c74c49e9b3adec58e3a0147b01c4ad
- Composed by
- gen_ny_statutes.py 2026-11-10: the Senate's Open Legislation law tree (GET /api/3/laws/<ID>?full=true) read in document order; the Senate's PDF of the whole law (GET /pdf/laws/<ID>?full=true), read with PDFium, prints the same words in the same order
- The Senate's note "Authority ceased to exist 08/05/2002" is printed with the text.
- The Senate's note "There are 4 § 1599-j's": the Legislature enacted more than one unit under that number; each is printed.
- The Legislature enacted more than one section numbered 1599-j; this is number 4 as the Senate prints them.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.