5. History & Governance

The Power Authority has a long and proud history. Governor Franklin D. Roosevelt established New York's model for public power through legislation signed in 1931. Our trustees are appointed by the Governor and are approved by the State Senate. The Power Authority remains true to its mission, serving the public without the use of any tax revenue or state credit. We finance construction of our projects through bond sales to private investors, repaying bondholders with proceeds from our operations.