Section 119-S. Participation in federal and state assistance programs for mass transportation and airport and aviation projects

1. Any municipal  corporation shall have power, either individually or jointly with one or
  more other municipal corporations, to  apply  for,  accept,  and  expend
  financial assistance:
    a.  From  the  state  of  New York for one or more mass transportation
  capital projects or for one or more airport or aviation capital projects
  provided pursuant to the transportation capital facilities bond act  and
  the transportation capital facilities development act, whether by way of
  direct  financial  assistance or by way of prefinancing of any financial
  assistance from the United States.
    b. From the United States, or any agency or  instrumentality  thereof,
  for  one  or  more  mass  transportation capital projects or one or more
  airport or aviation capital projects provided pursuant to any act of the
  Congress  of  the  United  States  or  any  rule,  regulation  or  order
  promulgated pursuant thereto.
    c.  From  the United States, or any agency or instrumentality thereof,
  for operation or maintenance of one or more mass transportation  capital
  projects  or  one  or more airport or aviation capital projects provided
  pursuant to any act of the Congress of the United States  or  any  rule,
  regulation or order promulgated pursuant thereto.
    d.  From  the United States, or any agency or instrumentality thereof,
  for  one  or  more  grants  for  transportation  demonstration  projects
  provided pursuant to any act of the Congress of the United States or any
  rule, regulation or order promulgated pursuant thereto.
    2.  Any  city,  town,  village or county not wholly contained within a
  city shall  have  power  (a)  to  finance  or  raise  pursuant  to  law,
  appropriate  and expend such sums as are required to administer, conduct
  or participate in such a project or projects and  (b)  to  accept  money
  provided  by  any  person,  firm  or corporation whatever, including the
  private owner or operator of a mass transportation facility affected  by
  the   specific  project,  for  the  administration  or  conduct  of,  or
  participation in, a specific project and comply with the  conditions  of
  the provider of such money.
    3.  No  municipal  corporation, whether acting individually or jointly
  with one or more other  municipal  corporations,  shall  submit  to  the
  United  States,  or  any  agency or instrumentality thereof, any project
  application for one or more mass transportation capital projects or  one
  or more airport or aviation capital projects, any application for one or
  more   transportation   demonstration   projects  or  any  federal  mass
  transportation  operating  assistance,   unless   the   application   or
  applications  therefor  shall  have  been  first  approved  by the state
  commissioner of transportation as being a part of or consistent  with  a
  statewide  comprehensive  master  plan for transportation promulgated by
  him and approved by the governor on the recommendation of the department
  of state or, in the absence  of  any  such  statewide  plan,  any  other
  recognized  long-range  regional  transportation  plan  approved  by the
  commissioner or, in  the  absence  of  any  such  regional  plan,  sound
  transportation development policy and planning concepts.
    4.  The  county  shall  have  power to pledge its interest in any mass
  commuting vehicles, the acquisition of which  was  not  wholly  financed
  with  the  proceeds  of  bonds  or  bond  anticipation  notes  under the
  provisions of the local finance law, to secure  or  further  secure  the
  payment of any bonds or bond anticipation notes issued for any object or
  purpose of such county, if such pledge will have the effect, directly or
  indirectly,  of  enabling  such county to participate in any transaction
  described in section ninety-nine-o of this  chapter.  As  used  in  this
  subdivision,  the  term  "mass  commuting vehicle" means any bus, subway

  car, rail car, locomotive, or similar equipment used or to  be  used  to
  provide  mass  commuting  services, whether or not operated by a private
  operator under agreement with such county.