Section 1199-FFFF. Advances on behalf of the authority; transfer of property to the authority; acquisition of property by county for authority  


Latest version.
  • 1. In addition to any powers granted to it by law, the county  from  time  to time may appropriate sums of money, after approval by the
      county legislature, to or on behalf of the authority to  defray  project
      costs  or  any other costs and expenses of the authority. Subject to the
      rights of bondholders,  the  county  may  determine  if  the  moneys  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. The county or any other municipality may give, grant, sell, convey,
      loan,  license  the  use  of  or  lease to the authority any property or
      facility which is useful to the authority in  order  to  carry  out  its
      powers  under  this  title.  Any such transfer of property shall be upon
      such terms and conditions, subject to the rights of the holders  of  any
      bonds, as the authority and the county or other municipality may agree.
        3.  The  county may acquire by purchase or by exercise of the power of
      eminent domain 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 to the contrary, real property acquired by the authority or the
      county  from  the  state  may  be  used for any corporate purpose of the
      authority.
        * NB There are 2 § 1199-ffff's