N.Y. Public Authorities Law 1899-A – Funds, administration and evaluation and coordination
§ 1899-a. Funds, administration and evaluation and coordination. 1. The authority is authorized to accept, as agent of the state, any gift, grant, devise or bequest, whether conditional or unconditional, including but not limited to federal grants, and to use monies made available for the program from any public or private source, for the purpose of implementing the components of the program as set forth in section eighteen hundred ninety-three through section eighteen hundred ninety-nine of this title, inclusive.
Terms Used In N.Y. Public Authorities Law 1899-A
- Bequest: Property gifted by will.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
2. The authority shall be entitled to recover from the monies made available for the program its own necessary and documented costs incurred in administering the program and evaluating the effectiveness of the program; provided, however, the sum that may be recovered for the authority's administrative costs shall not exceed seven percent of the monies made available for the program, and the sum that may be recovered for the authority's evaluation costs shall not exceed five percent of the monies made available for the program.