N.Y. Public Authorities Law 1048-B – Definitions
§ 1048-b. Definitions. As used or referred to in this title, unless a different meaning clearly appears from the context:
Terms Used In N.Y. Public Authorities Law 1048-B
- 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.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Personal property: All property that is not real property.
1. "Authority" shall mean the public benefit corporation created by section one thousand forty-eight-c of this title, known as the Buffalo municipal water finance authority.
2. "Bonds" shall mean bonds, notes or other evidences of indebtedness issued by the authority pursuant to this title and the provisions of this title relating to bonds and bondholders shall apply with equal force and effect to notes and noteholders, respectively, unless the context otherwise clearly requires.
3. "City" shall mean the city of Buffalo.
4. "Common council" or "council" shall mean the common council of the city of Buffalo.
5. "Comptroller" shall mean the comptroller of the city.
6. "Construction" shall mean the acquisition, erection, building, alteration, improvement, increase, enlargement, extension, reconstruction, renovation or rehabilitation of a water system or water project as defined herein; the inspection and supervision thereof; and the engineering, architectural, legal, fiscal and economic and environmental investigations and studies, surveys, designs, plans, working drawings, specifications, procedures and other actions incidental thereto and claims arising therefrom.
7. "Contracting agency" shall mean any municipality, agency, authority or board, state agency, public authority or public benefit corporation authorized to award contracts for design, construction, services or materials for water projects authorized by this title.
8. "Cost", as applied to any water project, shall include the cost of construction, the cost of the acquisition of all property, including both real, personal and mixed, the cost of demolishing, removing or relocating any buildings or structures on lands so acquired, including the cost of acquiring any lands to which such buildings or structures may be moved or relocated, the cost of all systems, facilities, machinery, apparatus and equipment, financing charges, interest prior to, during and after construction to the extent not paid or provided for from revenues or other sources, the cost of engineering and architectural surveys, plans and specifications, the cost of consultants' and legal services, the cost of lease guarantee or bond insurance, other expenses necessary, reasonably related or incidental to the construction of such water project and the financing of the construction thereof, including the amount authorized in the resolution of the authority providing for the issuance of bonds to be paid into any reserve or other special fund from the proceeds of such bonds and the financing of the placing of any water project in operation, including reimbursement to any municipality, state agency, the state, the United States government, or any other person for expenditures that would be costs of the water project hereunder.
9. "Mayor" shall mean the mayor of the city of Buffalo.
10. "Municipal bond" shall mean a bond, note or other evidence of indebtedness lawfully issued by the city pursuant to the local finance law or any other law applicable thereto.
11. "Person" shall mean any person, firm, partnership, association, or corporation organized or existing under the laws of the state or any other state, exclusive of public corporations as defined pursuant to Article 2-A of the general construction law.
12. "Real property" shall mean lands, structures, franchises and interests in land, waters, lands under water, groundwater riparian rights and air rights and any and all things and rights included within said term and includes not only fees simple absolute, but also any and all lesser interests including, but not limited to, easements, rights of way, uses, leases, licenses and all other incorporeal hereditaments and every estate, interest or rights, legal or equitable, including terms for years and liens thereon by way of judgments, mortgages or otherwise.
13. "State" shall mean the state of New York.
14. "State agency" shall mean any state office, department, board, commission, bureau or division, or other agency or instrumentality of the state.
15. "System revenues" shall mean rents, fees, charges, payments and other income and receipts derived from users of a water system of the city or the water board including, without limiting the generality of the foregoing, investment proceeds and proceeds of insurance, condemnation, sale or other disposition of any part thereof, together with all federal or state aid therefor.
16. "Water board" shall mean the water board created by a special act of the state legislature, for the city as a body corporate and politic, constituting a public benefit corporation, and having the powers and duties as provided in this title.
17. "Water facility" or "water facilities" shall mean any plants, structures and other real and personal property acquired, rehabilitated, or constructed or planned for the purpose of supplying, distributing or treating water, including but not limited to surface or groundwater reservoirs, basins, dams, canals, aqueducts, standpipes, conduits, pipelines, mains, pumping stations, water distribution systems, compensating reservoirs, intake stations, water-works or sources of water supply, wells, purification or filtration plants or other treatment plants and works, connections, water meters, rights of flowage or division and other plants, structures, equipment, conveyances, real or personal property or rights therein and appurtenances thereto necessary or useful and convenient for the accumulation, supply, treatment or distribution of water.
18. "Water project" shall mean any water facility including the planning, development, financing or construction thereof.
19. "Water system" shall mean the water supply and distribution system or systems owned by, in the possession of the city or the water board or under the jurisdiction, control and regulation of the city, including all additions, increases, enlargements, extensions or improvements thereto.