N.Y.
Public Authorities Law Section 2676-D
Advances on behalf of the authority
- transfer of property to the authority
- acquisition of property by county for the authority
1.
In addition to any powers granted to it by law, the county may, from time to time, appropriate by resolution sums of money to defray project costs or any other costs and expenses of the authority including operating expenses. Subject to the rights of bond holders, the county may determine if the monies so appropriated shall be subject to repayment by the authority to the county and, in such event, the manner and time or times for such repayment.2.
Notwithstanding any inconsistent provision of any general, special or local law, ordinance, resolution or charter, any public corporation may, by a majority vote of its governing body and the approval of its chief executive officer, give, grant, sell, convey, loan, license the use of, or lease to the authority any property or facilities, including the college of Saint Rose facilities, which are 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 upon such terms and conditions, and for such term or terms of years, subject to the rights of the holders of any bonds, as the authority and such public corporation may agree. Any such gift, grant, sale, conveyance, lease, loan, or license shall not be subject to referendum, permissive or mandatory. In the event that any public corporation gives, grants, sells, conveys, loans, licenses, or leases any of the college of Saint Rose facilities to the authority, such public corporation may contract with the authority to lease, borrow, license, operate, maintain, manage, and provide services for such facilities upon such terms and conditions and for such term or terms of years, subject to the rights of holders of bonds, as the authority and such public corporation may agree. The authority, in furtherance of any purchase, conveyance, or lease of any property or facility from any public corporation, may assume the primary responsibility for the payment of the principal and interest on any bonds or notes issued by such public corporation for such property or facility. For purposes of section 136.00 of the local finance law, any agreement by the authority to assume the primary responsibility for the payment of the principal and interest on any bonds or notes issued by any such public corporation shall, so long as such agreement shall continue to be honored by the authority, cause such bonds or notes to be deemed to have been refunded and any such public corporation may deduct from its gross indebtedness any outstanding indebtedness contracted for such property or facility to be acquired by the authority.3.
The county may acquire by purchase, grant, lease, gift, or condemnation pursuant to the eminent domain procedure law, real property in the name of the county for any corporate purpose of the authority.4.
Notwithstanding the provisions of any other law, general, special, or local, real property acquired by the authority or the county from the state may be used for any corporate purpose of the authority provided, however, no non-hazardous solid waste, toxic, or hazardous waste site, center, consolidated collection, or transfer area, shall be located or maintained at the college of Saint Rose facilities or lands adjacent thereto that are used in support of the college of Saint Rose operations as contained in any layout plan in existence upon the effective date of this title or in the future.
Source:
Section 2676-D — Advances on behalf of the authority; transfer of property to the authority; acquisition of property by county for the authority, https://www.nysenate.gov/legislation/laws/PBA/2676-D (updated Jul. 5, 2024; accessed Oct. 26, 2024).
