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The New York Community Trust (The Trust) is a community foundation that serves New York City's five boroughs, Long Island, and Westchester County. The Trust administers more than 2,200 charitable funds. Established in 1924, The Trust is one of the nation's 10 largest community foundations with nearly $3.3 billion in assets. [1]
The New York State Constitution, Art.X, sec. 5, provides that public benefit corporations may only be created by special act of the legislature. In City of Rye v. MTA, 24 N.Y.2d 627 (1969), the court of appeals explained that "The debates of the 1938 Convention indicate that the proliferation of public authorities after 1927 was the reason for the enactment of section 5 of article X....
The Trust works with the individual houses to restore and promote the houses as a means of educating residents and visitors about the social, economic and political history of New York City and cast urban history in a new light. [4] The Trust includes 23 historic sites, with 18 operating as museums and attracting 729,000 annual visitors. [2]
A Municipal Assistance Corporation (MAC) was an independent New York State public-benefit corporation created by the State of New York for purposes of providing financing assistance and fiscal oversight of a fiscally-distressed city. Two MACs are explicitly designated under New York law.
The new building was completed in 1909 at a cost of $1,476,037.84. [1] [10] [11] Between 1930 and 1931, the bank tore down its existing headquarters, [b] and built a new fifty-nine story structure known as the City Bank-Farmers Trust Building at 20 Exchange Place, which became one of New York City's tallest buildings.
The New York State Authorities Budget Office (ABO) is an independent office in the state of New York established by the Public Authorities Accountability Act of 2005 and signed into law by Governor Pataki in 2006. [1] In 2009, the ABO was restructured as part of the Public Authorities Reform Act. [2]
Charles S. Fairchild, the first president of New York Trust Company Otto T. Bannard, the company's second president Harvey Dow Gibson, the company's fourth president. On April 3, 1889, the New York Security and Trust Company received its certificate of authorization and was formed with Charles S. Fairchild as the first president and "original capital" of $1,000,000. [2]
Hypothec (/ h aɪ ˈ p ɒ θ ɪ k, ˈ h aɪ p ɒ θ-/; German: Hypothek, French: hypothèque, from Lat. hypotheca, from Gk. ὑποθήκη: hypothēkē), sometimes tacit hypothec, is a term used in civil law systems (e.g. the law of most of Continental Europe) or to refer to a registered real security of a creditor over real estate, but under some jurisdictions it may additionally cover ships ...