Statute · New York Public Authorities Law
N.Y. Pub. Auth. Law § 2799-cc — New York city transitional finance authority
N.Y. Pub. Auth. Law § 2799-cc
- Type
- Statute
- Source
- New York Public Authorities Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 2799-cc. New York city transitional finance authority. 1. There is hereby created the New York city transitional finance authority. The authority shall be a corporate governmental agency constituting a public benefit corporation and an instrumentality of the state.
Citator
N.Y. Pub. Auth. Law § 2799-cc — New York city transitional finance authority is in force in the current edition of the Code, and nothing recorded condemns it.
§ 2799-cc. New York city transitional finance authority. 1. There is hereby created the New York city transitional finance authority. The authority shall be a corporate governmental agency constituting a public benefit corporation and an instrumentality of the state.
2. In accordance with the provisions of this title, the authority may only finance costs, including the refunding of bonds issued by the authority to finance costs, and fund reserves to secure such bonds.
3. The authority shall continue until all its liabilities have been met or otherwise discharged. Upon the termination of the existence of the authority, all of its rights and property shall pass to and be vested in the city.