Establishes the New York water authority to purchase, upgrade, and maintain small private water companies.

The bill establishes the New York water authority to purchase, upgrade, and maintain small private water companies. It creates a water board to operate, purchase, and maintain certain water companies. The authority can issue bonds, enter into contracts, and acquire properties. The authority and water board are exempt from taxes and certain fees. The authority is subject to open meetings law and can be sued. The authority and water board can enter into cooperative agreements with other entities. The authority can appoint a trustee for bondholders.

Establishes the New York water authority to purchase, upgrade, and maintain small private water companies.

The bill establishes the New York water authority to purchase, upgrade, and maintain small private water companies. It creates a water board to operate, purchase, and maintain certain water companies. The authority can issue bonds, enter into contracts, and acquire properties. The authority and water board are exempt from taxes and certain fees. The authority is subject to open meetings law and can be sued. The authority and water board can enter into cooperative agreements with other entities. The authority can appoint a trustee for bondholders.