Section 18-118. Renting of stadium in Flushing Meadow park; exemption from down payment requirements

a. Notwithstanding  any  other  provision  of  law,  general,  special  or local, the city, acting by the commissioner,
  with the approval of the board of estimate,  is  hereby  authorized  and
  empowered  from  time  to time to enter into contracts, leases or rental
  agreements with,  or  grant  licenses,  permits,  concessions  or  other
  authorizations   to,   any  person  or  persons,  upon  such  terms  and
  conditions, for such consideration, and for such term of duration as may
  be agreed upon by the city and such  person  or  persons,  whereby  such
  person  or  persons  are  granted the right, for any purpose or purposes
  referred to in subdivision b of this section, to use, occupy or carry on
  activities in, the whole or any part  of  a  stadium,  with  appurtenant
  grounds,  parking  areas  and other facilities, to be constructed by the
  city on certain tracts of  land  described  in  subdivision  c  of  this
  section,  being  a  part  of  Flushing  Meadow  park and situated in the
  borough of Queens, city and state of New York, title to which tracts  is
  now  in the city. Prior to or after the expiration or termination of the
  terms of duration of any contracts, leases, rental agreements, licenses,
  permits, concessions or other authorizations  entered  into  or  granted
  pursuant to the provisions of this subdivision and subdivision b of this
  section, the city, in accordance with the requirements and conditions of
  this  subdivision  and  subdivision  b of this section, may from time to
  time enter into amended, new, additional or further contracts, leases or
  rental agreements with, and grant new, additional or  further  licenses,
  permits,  concessions  or other authorizations to, the same or any other
  person or persons for any purpose or purposes referred to in subdivision
  b of this section.
    b. Any contract, lease, rental agreement, license, permit,  concession
  or  other authorization referred to in subdivision a of this section may
  grant to the person or persons contracting with the city thereunder, the
  right to use, occupy or carry on activities in, the whole or any part of
  such stadium, grounds, parking areas and other facilities, (1)  for  any
  purpose  or  purposes  which  is  of  such a nature as to furnish to, or
  foster or promote among, or provide for the benefit of,  the  people  of
  the    city,    recreation,    entertainment,    amusement,   education,
  enlightenment, cultural development or betterment,  and  improvement  of
  trade  and  commerce,  including  professional,  amateur  and scholastic
  sports and athletic events, theatrical, musical or  other  entertainment
  presentations,  and  meetings,  assemblages, conventions and exhibitions
  for  any  purpose,  including  meetings,  assemblages,  conventions  and
  exhibitions  held  for  business  or trade purposes, and other events of
  civic, community  and  general  public  interest,  and/or  (2)  for  any
  business  or  commercial  purpose  which  aids  in  the financing of the
  construction and operation of such stadium, grounds, parking  areas  and
  facilities,  and  any additions, alterations or improvements thereto, or
  to the  equipment  thereof,  and  which  does  not  interfere  with  the
  accomplishment  of  the  purposes  referred  to in paragraph one of this
  subdivision. It is hereby declared that all of the purposes referred  to
  in  this  subdivision  are for the benefit of the people of the city and
  for the improvement of their health, welfare, recreation and prosperity,
  for the promotion of competitive sports for youth and the prevention  of
  juvenile delinquency, and for the improvement of trade and commerce, and
  are hereby declared to be public purposes.
    c. The tracts of land referred to in subdivision a of this section are
  more particularly described as follows:
    1. The area of land bounded on the north by the south side of Northern
  boulevard,  on  the  east  by  the west side of One hundred twenty-sixth

  street, on the south by the north side of Roosevelt avenue, and  on  the
  west by the east side of Grand Central parkway.
    2.  The  area  of  land  bounded  on  the  north  by the south side of
  Roosevelt  avenue,  on  the  east  by  the  west  side  of  One  hundred
  twenty-sixth  street,  on  the  south  by  lands of the city of New York
  occupied by the New York city transit authority, and on the west by  the
  east  side  of  Grand Central parkway, excepting from such area of land,
  the portion thereof  fronting  on  Roosevelt  avenue  occupied  by  such
  authority as a substation.
    d.  Notwithstanding  the  foregoing  provisions of this section or the
  provisions  of  any  other  law,  general,   special   or   local,   the
  commissioner,  acting  in  behalf  of the city, is hereby authorized and
  empowered, without the approval of the board of estimate, to enter  into
  contracts,  leases or rental agreements with or grant licenses, permits,
  concessions or other authorizations to any person or persons, upon  such
  terms and conditions and for such consideration as may be agreed upon by
  the  commissioner  and  such  person  or persons, for terms of duration,
  which, in the case of  each  such  contract,  lease,  rental  agreement,
  license, permit or other authorization, including renewals, shall not be
  in  excess  of  one year, whereby such person or persons are granted the
  right to use, occupy or carry on activities in, the whole or any part of
  such stadium, grounds, parking  areas  and  other  facilities,  for  any
  purpose  or  purposes referred to in subdivision b of this section. Upon
  the expiration of the terms  of  duration  of  any  of  such  contracts,
  leases,  rental  agreements,  licenses,  permits,  concessions  or other
  authorizations entered into or granted pursuant  to  the  provisions  of
  this  subdivision,  or  within  thirty  days prior to such expiration or
  termination, the commissioner, in accordance with the  requirements  and
  conditions  of  this  subdivision,  acting  in  behalf  of the city, and
  without the approval of the board of estimate, may  from  time  to  time
  enter  into  new,  additional  or  further  contracts,  leases or rental
  agreements with, and may grant  new,  additional  or  further  licenses,
  permits,  concessions  or other authorizations to, the same or any other
  person or persons for any purpose or purposes referred to in subdivision
  b of this section.
    e. Notwithstanding the provisions  of  section  107.00  of  the  local
  finance  law,  for  the  purpose of financing and paying the cost of the
  construction of such stadium, grounds, parking areas and facilities, and
  the construction of any additions, alterations or  improvements  thereto
  or  to  the  equipment  thereof,  including  a roof for such stadium and
  increased seating capacity therein, the city is  hereby  authorized  and
  empowered, without providing from current funds any part of such cost or
  otherwise  complying  with the provisions of section 107.00 of such law,
  but upon compliance by the city with all other applicable provisions  of
  the local finance law, to issue bonds and bond anticipation notes and to
  make  expenditures from the proceeds of such bonds and bond anticipation
  notes or from any fund into which such proceeds are paid.