About Dormitory Authority Of The State Of New York
The Dormitory Authority of the State of New York (acronym: DASNY, /'dæzni?/; also frequently referred to as just "DASNY") provides construction, financing, and allied services which serve the public good of New York State. More specifically, DASNY provides assistance for public and non-proprietary (i.e., nonprofit) private universities in New York State; for not-for-profit healthcare facilities in the State; and for other New York State-related institutions/purposes (such as State court facilities and State pension bonds) as legally specified and permitted. DASNY was established by a law signed into action by New York Governor Thomas Dewey on April 5, 1944. At first, its only purpose was for the financing and construction of dormitories at 11 State Teachers' Colleges in New York. Since then, the Authority has constructed additional buildings — as well as provided allied construction, financial, and other services — which have not been limited in purpose to what the Authority was originally authorized to carry out and fulfill. DASNY is one of America’s largest public authorities in terms of its construction and financing output. In 1999, the Authority was the top issuer of municipal bonds in the United States, issuing US$3.16 billion of municipal bonds that year. (In 2006, DASNY was ranked fourth in the USA for municipal bond issuance.) In 2005, the Authority’s construction expenditures topped US$1 billion (more precisely, came to $1.01 billion). The Authority has the power of eminent domain, which can be used if necessary to get construction projects built.