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Cornells In Foreclosure?
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senders
October 18, 2011, 4:58pm Report to Moderator
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Origins

Public benefit corporations in New York State have origins in mercantile capitalism. A shared tradition of English common law and Dutch law may explain their origins.

The New York Court of Appeals provided a thorough history of state laws regarding public authorities in the 1994 case Schulz v. State, 84 N.Y.2d 231. As the court explained, state debt limits were first enacted as a reaction to fiscal crises caused by the state's lending of its credit to "irresponsible" canal and railroad corporations in the early nineteenth century. The state was forced to assume these obligations, which amounted to more than three fifth's of the state's entire debt. In 1846, a referendum requirement was added to the state constitution, prohibiting the state from contracting long term debt without approval by the voters.

As early as 1851, the legislature began to search for ways to evade the constitutional debt limit in order to finance public works projects. Canal certificates, which would be repaid through canal revenues, and which by their terms were not state obligations, were nevertheless held to be unconstitutional in Newell v. People, 7 N.Y. 9 (1852). The court held that the state had a moral obligation to repay the debts if canal revenues proved insufficient, and thus the certificates were deemed "an evasion if not a direct violation of the constitution".


...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......

The replacement of morality and conscience with law produces a deadly paradox.


STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS

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senders
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Public Authority Financing

The 1938 Constitution "expressly empowered public authorities to contract debt independently of the State". [7] Because of this, the Court of Appeals has repeatedly affirmed that public authorities are distinct from the state and that the state carries no moral obligation to repay their debts. Although the Constitution prohibits the state from lending its credit to public authorities, it does allow the state to make gifts of money to authorities. As a practical result, this has resulted in some authorities receiving annual funding from the state on a consistent basis. Despite the fairly obvious moral obligation that the state carries to continue funding these authorities, which provide incredibly important public services such as road maintenance and transit operations, the Court of Appeals has continued to approve the fiction created by the Constitution's ban on moral obligation debt. As the Court of Appeals stated in Schulz v. State, 84 N.Y.2d 231 (1994), if "modern ingenuity, even gimmickry, have in fact stretched the words of the Constitution beyond the point of prudence, that plea for reform in State borrowing practices and policy is appropriately directed to the public arena".[1] See also Wein v. State, 39 N.Y.2d 136 (1976); Wein v. Levitt, 42 N.Y.2d 300 (1977).

Financing public projects through public authorities is also attractive because their independent corporate structure theoretically makes them more flexible and efficient than state agencies. Many restrictions placed on state agencies do not apply to public authorities, including, for example, general public bidding requirements (some public bidding requirements do apply under the Public Authorities Law). See Plumbing, Heating, Piping & Air Conditioning Contr. a**'n v. N.Y.S. Thruway Auth., 5 N.Y.2d 420 (1959). Most public authorities may also make contracts, and because of public authorities' corporate status, there is generally, no remedy against the state for the breach of such contracts. John Grace & Co. v. State University Constr. Fund, 44 N.Y.2d 84 (197. Many public authorities, such as Industrial Development Agencies and the Empire State Development Corporation, can also condemn property.

The New York State Public Authorities Control Board was created in 1976 to provide oversight for some of the state's most powerful authorities.[2] Sections 50 and 51 of the Public Authorities Law currently require 11 authorities to receive approval from the PACB prior to entering into contracts for project-related financing. There are five members on the PACB board, all of whom are appointed by the governor and serve year-long terms.[3]

Public authorities are currently responsible for more than 90% of the state's debt and 80% of the state's infrastructure, leading some to refer to them as the "shadow government."[8]


...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......

The replacement of morality and conscience with law produces a deadly paradox.


STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS

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joebxr
October 18, 2011, 5:01pm Report to Moderator

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I think it is just damn sad tht we lost what was once a very good Itlaian resaurant and popular place for many of us to go to....all becuase of political interference and greed!!!!


JUST BECAUSE SISSY SAYS SO DOESN'T MAKE IT SO...BUT HE THINKS IT DOES!!!!!  
JUST BECAUSE MC1 SAYS SO DOESN'T MAKE IT SO!!!!!  
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Smoking Bananas
October 18, 2011, 5:27pm Report to Moderator

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who said it is gone?


I love a good joke, that is why I come here.

Remember: B. slimey equals propaganda  


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benny salami
October 19, 2011, 12:38pm Report to Moderator
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Working together works! Working together works!
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Patches
October 19, 2011, 3:01pm Report to Moderator
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It was a great try to try to make "Little Italy"

A shame to have this happen....nicest owner....great hospitality...

Good Luck to all concerned at  Cornell's
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bumblethru
October 19, 2011, 8:09pm Report to Moderator
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will sell at public auction at the front entrance of the Schenectady County Courthouse at 612 State Street, Schenectady, New York on the 2nd day of November, 2011 at 11:30 a.m., the premises directed by said Judgment to be sold and described as follows: 39 North Jay Street, Schenectady, New York a/k/a 39-45 North Jay Street, Schenectady, New York Tax Map No. 39.64-2-6.1


So just the building is up for sale?


When the INSANE are running the ASYLUM
In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche


“How fortunate for those in power that people never think.”
Adolph Hitler
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Smoking Bananas
October 20, 2011, 6:25am Report to Moderator

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nothing is for sale. it is a formality.. the place has been "saved" by jeepus


I love a good joke, that is why I come here.

Remember: B. slimey equals propaganda  


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Patches
October 20, 2011, 6:33am Report to Moderator
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Who's keeping Randy Loren's place alive??   upper State St
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Smoking Bananas
October 20, 2011, 6:44am Report to Moderator

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not sure.


I love a good joke, that is why I come here.

Remember: B. slimey equals propaganda  


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rachel72
October 20, 2011, 7:29am Report to Moderator
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Quoted from Patches
It was a great try to try to make "Little Italy"

A shame to have this happen....nicest owner....great hospitality...


Don't really believe that this 'Little Italy' concept was well thought out at all - by anyone. Luigis had closed, there's a decade-old empty Jo Jo's garage on the corner at the entrance and (as much as I LOVE Don Burch) the Sawmill isn't quite Little Italy material.

Classic Metroplex warped planning and thinking. You simply cannot create economic stability by relying on one small business. Cornells was fine where it was and once the Metroplex touched it, it failed. If Metroplex really wanted Cornells to keep succeeding it would have CLEANED UP VAN VRANKEN!!!

Now, there's a big hole left on VanVranken and a foreclosed & bankrupt location in 'Little Italy'. Metroplex isn't even coordinated enough to work with the St. Anthony's to get something going at the Little Italy location during the annual Festa.
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GrahamBonnet
October 20, 2011, 9:05am Report to Moderator

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PS-Jo Jo's garage is sytill in business as far as I know!!!!!!! What are you talking about! Go ask that guy about politics sometimes and you will get an education!


"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
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Patches
October 20, 2011, 9:12am Report to Moderator
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Went to downtown Schdy last week ...heard about a resturant near Proctor's

I was very surprised at the activity and all the places to eat and drink....would have had to wait over an hour to
be seated.

[size=14][b]Schdy has been revitalized in only  one area.[/[/size]b]

AND does not compare to the 50's....lots of retail, eateries, banks, movie theaters etc.,  on both sides of
Erie Blvd.

That was when their were jobs all over as well as the GE

All the kings men couldn't bring back Schdy again...looks like Humpty Dumpty fell big time.
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rachel72
October 20, 2011, 11:09am Report to Moderator
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Quoted from GrahamBonnet
PS-Jo Jo's garage is sytill in business as far as I know!!!!!!! What are you talking about! Go ask that guy about politics sometimes and you will get an education!


Thank you for that info GB ...and I'll tell you why I have been under the impression that Jo Jo's has been closed. EVERY year, I call Jo Jo's because I'm hoping they will do my inspection for me. Each time I've called - no answer. When I go to the garage, there is no one there and there are no hours posted.

To double check myself today, I just called them - 1:00 pm, Thursday at 372-2390 - no answer and no answering machine.

Could you please tell the owner that I am someone who would like them to do work for me, but I can't get a hold of them!

Thanks!

BTW, still think the "Little Italy" concept is a failure and it's a project the Plex did not put much thought or energy into.
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benny salami
October 20, 2011, 12:12pm Report to Moderator
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Jo-Jo's is still open but has his own hours. Usually around in the late afternoon. He will be glad to tell you about Metrograft and the DEM united revitalization team- lol.
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