RESOLUTION NO. 777
RESOLUTION OF THE COUNTY OF ALBANY, NEW YORK (THE "COUNTY"), ADOPTED DECEMBER 2, 2024, AUTHORIZING THE EXECUTION OF A FINANCING AGREEMENT BY AND BETWEEN THE COUNTY AND THE ALBANY COUNTY PINE HILLS LAND AUTHORITY (THE "AUTHORITY"), AND RELATED AGREEMENTS IN CONNECTION WITH THE FOREGOING
Introduced: 12/2/24
By Audit and Finance Committee:
WHEREAS, the Albany County Pine Hills Land Authority (the "Authority") is a body corporate and politic constituting a public benefit corporation of the State of New York (the "State"), created and existing under and by virtue of Title 28-C of Article 8 of the Public Authorities Law of the State (the "PAL"), Chapter 168 of the Laws of 2024 of the State, as amended from time to time (the "Act"), organized for the purpose of, among other things, acquiring, promoting, and repositioning the campus of the now closed The College of Saint Rose ("St. Rose") to the highest and best use, and
WHEREAS, the Authority is authorized and empowered by the provisions of the Act to protect adequate and accessible performing arts centers, athletic fields, educational facilities, and residential facilities; preserve facilities at risk of being underutilized and becoming blighted; and stimulate and promote a healthy economy within the County of Albany, New York, and
WHEREAS, to accomplish its stated purposes, the Authority is authorized and empowered under the Act to (A) to acquire, construct, reconstruct, continue, develop, equip, expand, improve, maintain, finance, and operate the college of Saint Rose facilities and services within the County; (B) to make contracts and leases and to execute all instruments necessary or convenient for its corporate purposes; and (C) to issue its negotiable bonds to finance the cost such project or for any other corporate purpose, and
WHEREAS, the Authority is considering undertaking a project (the "Project") consisting of (A) (1) the acquisition, administration, ma...
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