July (pdf) - New York Power Authority

PART 2
of the
OFFICIAL STATEMENT
of the
POWER AUTHORITY OF THE STATE OF NEW YORK
$___,___,000
REVENUE BONDS
$___,___,000 Series 2011 A
$___,___,000 Series 2011 B (Federally Taxable)
THE AUTHORITY
The Power Authority of the State of New York (the ‘‘Authority’’) is a corporate municipal
instrumentality and political subdivision of the State of New York (the ‘‘State’’), created in 1931 and
authorized by the Power Authority Act of the State of New York (the ‘‘Act’’) to help provide a continuous
and adequate supply of dependable electric power and energy to the people of New York State. Pursuant
to the Act, the Authority is authorized to undertake the construction of such hydroelectric or energy
storage projects as it deems necessary or desirable to contribute to the adequacy, economy and reliability
of the supply of electric power and energy available in its service area or to conserve fuel, and such
baseload nuclear generating facilities or other facilities using new energy technologies as in its judgment
are necessary to make optimum use of its St. Lawrence-FDR and Niagara facilities, to attract and retain
industry and to supply the future needs of the Authority’s municipal and rural electric cooperative
customers. The Authority is further authorized, among other things, to construct and/or acquire and
complete such baseload generating, transmission and related facilities as it deems necessary or desirable to
assist in maintaining an adequate and dependable supply of electricity to the Metropolitan Transportation
Authority (‘‘MTA’’), the New York City Transit Authority, the Port Authority of New York and New
Jersey (the ‘‘Port Authority’’), The City of New York, the State, the Federal government, other public
corporations and electric corporations within the metropolitan area of New York City, and to provide
power and energy for use by the Niagara Frontier Transportation Authority (‘‘NFTA’’) or its subsidiary
corporation in the operation of a light rail rapid transit system.
Capitalized terms not otherwise defined in this Part 2 of the Official Statement have the meanings set
forth in Appendix 1 to this Part 2 of the Official Statement.
Management
The Authority consists of seven Trustees appointed by the Governor of the State (the ‘‘Governor’’),
with the advice and consent of the State Senate. The current Trustees are:
Trustees
Term Expires
Michael J. Townsend, Chairman ....................................May 6, 2011
Jonathan F. Foster, Vice Chairman.................................May 19, 2013
D. Patrick Curley............................................................June 22, 2012
John S. Dyson................................................................March 28, 2016
R. Wayne LeChase ........................................................June 5, 2014
Hon. Eugene L. Nicandri................................................May 19, 2013
Mark O’Luck..................................................................May 6, 2012
Continues to serve as Trustee until his successor has been appointed by the Governor and confirmed by the State
Senate.
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