N.Y. Public Authorities Law Section 2050-DD
Advances on behalf of authority

  • transfer of property to authority
  • acquisition of property for authority

1.

In addition to any powers granted to it by law, the legislative body of the towns may, from time to time, appropriate by resolution sums of money to defray project costs or any other costs and expenses of the authority. Subject to the rights of bondholders, each such legislative body may determine if the moneys so appropriated shall be subject to repayment by the authority to any such town and, in such event, the manner and time or times for such repayment. The towns or any other municipality within the area of operation, may give, grant, sell, convey, loan, license the use of or lease to the authority any property or facility which is useful in connection with the exercise by the authority of its powers under this title. Any such gift, grant, sale, conveyance, loan, license or lease shall be for such consideration, be upon such terms and conditions, subject to the rights of the holders of any bonds, as the authority and such town or other municipality may agree. Any such gifts, grant, sale, conveyance, loan or license shall not be subject to referendum, permissive or mandatory.

2.

The towns may acquire by purchase or condemnation real property in the name of such towns or town for any corporate purpose of the authority.

Source: Section 2050-DD — Advances on behalf of authority; transfer of property to authority; acquisition of property for authority, https://www.­nysenate.­gov/legislation/laws/PBA/2050-DD (updated Sep. 22, 2014; accessed Jun. 15, 2024).

Accessed:
Jun. 15, 2024

Last modified:
Sep. 22, 2014

§ 2050-DD’s source at nysenate​.gov

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