Sewer & Storm Water Finance Authority

The Nassau County Sewer and Storm Water Finance Authority (the " Authority") was established in 2003 by the State of New York (the "State") under the Nassau County Sewer and Storm Water Finance Authority Act, codified as Title 10-D of Article 5 of the Public Authorities Law of the State (the "Act"), as a public benefit corporation. The State Legislature determined the creation of the Authority to be an effective mechanism to achieve substantial savings to the County for past and prospective sewer and storm water resources capital investments. The Authority has been established for the limited objectives of refinancing outstanding sewer and storm water resources debt issued by or on behalf of the County and financing future County sewer and storm water resources projects. The Authority may issue debt in an amount up to $350,000,000 for such purposes (exclusive of debt issued to refund or otherwise repay Authority debt).

Pursuant to the Act, the Authority’s governing body (the "Governing Body") consists of seven members who must be residents of the County and be appointed by the County Executive and confirmed by the County Legislature, one upon the recommendation of the County Comptroller, two upon recommendation of the Presiding Officer of the County Legislature and two upon the recommendation of the Minority Leader of the County Legislature.The current members of the Governing Body are Kenneth G. Arnold, Michele M. Darcy, Francis X. Moroney, Jeffrey R. Schoen and Louis J. DiGrazia.


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