§ 342. Definitions.
485 words·~2 min read·
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§ 342. Definitions. As used in this article, the following words and
terms shall have the following meanings:
(a)"Comptroller" shall mean the state comptroller.
(b)"Division of budget" shall mean the state of New York division of
budget.
(c)"Endorsing municipality" shall mean a municipality or
municipalities within the state of New York that authorizes a bid by a
local organizing committee for selection of such municipality or
municipalities as the site of an olympic games.
(d)"Games support contract" shall mean a joinder undertaking, a
joinder agreement, and/or a similar contract executed by the state, an
endorsing municipality and a site selection organization in connection
with the selection of a municipality to host the games, and containing
terms authorized or required by this section.
(e)"Guaranty fund" shall mean the olympic games guaranty fund
established in section eighty-four-a of the state finance law.
(f)"Joinder agreement" shall mean an agreement entered into by the
state, an endorsing municipality and a site selection organization
setting out representations and assurances by the state and endorsing
municipality in connection with the selection of a site in the endorsing
municipality for the location of the olympic games.
(g)"Joinder undertaking" shall mean an agreement entered into by the
state, an endorsing municipality and a site selection organization that
the state and endorsing municipality will execute a joinder agreement in
the event that the site selection organization selects a site in the
endorsing municipality for an olympic games.
(h)"Local organizing committee" shall mean a not-for-profit
corporation or its successor in interest that:
(1)has been authorized
by an endorsing municipality to pursue an application and bid on the
endorsing municipality's behalf to a site selection organization for
selection as the site of an olympic games; or
(2)with the authorization
of an endorsing municipality, has executed an agreement with a site
selection organization regarding a bid to host the olympic games.
(i)"Net financial deficit" shall mean those losses resulting from the
conduct of the games which the endorsing municipality and state are
obligated to indemnify and insure against pursuant to a games support
contract. Expenses or liabilities arising from cancellation of the games
or any part thereof due to any cause beyond the local organizing
committee's reasonable control, including, but not limited to acts of
war, riots and other civil disturbances, acts of God, including, but not
limited to flood, fire, weather, and earthquakes, shall not be included
in calculating the net financial deficit.
(j)"State" shall mean the state of New York.
(k)"Olympic games" shall mean the two thousand twelve olympic games.
(l)"Site selection organization" shall mean the United States olympic
committee or the international olympic committee.
(m)"United States olympic committee" shall mean the official national
olympic committee of the United States of America which has been
authorized by law to govern all matters relating to national
participation in the olympic games.