Posted on March 17, 2009
Chapter 33: The Dormitory Authority of the State of New York (DASNY) is authorized, as a successor to the New York State Medical Facilities Finance Agency, to issue project bonds and notes to hospitals and nursing homes. This chapter increases the aggregate principal dollar amounts of such bonds and notes from $13.4 billion dollars to $14.2 billion dollars. Such an increase is necessary to ensure DASNY’s ability to meet the financial needs of all of its private not-for-profit health care clients. It is particularly important at the current time because, as of September 30, 2007, DASNY had been requested to finance five hospital and nursing home projects, totaling approximately $658 million dollars, which, in addition to its then existing financial commitments, would exceed the $13.4 billion dollar statutory limitation. Signed by Governor Paterson on March 25, 2008, this chapter became effective immediately. (S.7013/A.10039)
