2020 New York Laws
TRA - Transportation
Article 17 - Implementation of the Rebuild New York Through Transportation Infrastructure Renewal Bond Act of 1983
425 - Contracts for Municipal Transportation Infrastructure Renewal Projects.

§ 425. Contracts  for  municipal transportation infrastructure renewal
projects. Any such contract between the commissioner and a  municipality
may  include  such  provisions  as  may  be  agreed  upon by the parties
thereto, and shall include, in substance, the following:
  a. an estimate of the reasonable cost of the project as determined  by
the commissioner;
  b.  an agreement by the commissioner to pay to the municipality during
the progress of construction or following completion of construction  as
may  be  agreed  upon by the parties, an amount, not to exceed the total
cost of the project or such lesser amount as may have  been  established
pursuant to section four hundred twenty-four of this article;
  c. an agreement by the municipality:
  (i) to proceed expeditiously with and complete the project as approved
by the commissioner,
  (ii)  to  apply  for  and/or make reasonable efforts to secure federal
assistance, if any, for the project,
  (iii) to secure the approval of the commissioner before  applying  for
such  federal  assistance,  in  order  to  maximize  the amounts of such
assistance received or to be received  for  all  projects  in  New  York
state,
  (iv)  to  provide  for  the  municipality's  share  of the cost of the
project when such municipality's share is required by the  appropriation
therefor,
  (v)  to maintain the project at its own expense in accordance with the
requirements of the commissioner for the period of time corresponding to
the period of useful life for such project as determined by reference to
section sixty-one of the state finance law; and
  d. a provision that, in the event that federal  assistance  which  was
not  included  in the calculation of the state payment becomes available
to  the  municipality,  the  amount  of  the  state  payment  shall   be
recalculated  with  the  inclusion  of  such  federal assistance and the
municipality shall pay to the  state  the  amount  by  which  the  state
payment  actually  made  exceeds  the  state  payment  determined by the
recalculation.