Section 1599-FFF. Conveyance of property by the village to the authority; acquisition of property by the village or by the authority

(a)  The  village may, by resolution or resolutions of the board of trustees or by
  instruments  authorized  by  such  resolutions,  convey, with or without
  consideration, to the authority real and personal property owned by  the
  village  for  use  by  the  authority as a project or projects or a part
  thereof. In case of real property so conveyed, the title  thereto  shall
  remain in the village but the authority shall have the use and occupancy
  thereof  for  so  long as its corporate existence shall continue. In the
  case of personal property so conveyed,  the  title  shall  pass  to  the
  authority.
    (b)  The village may acquire in the name of the village by purchase or
  condemnation real property in the village for any of the projects or for
  the widening of existing roads, streets, avenues or highways, or for new
  roads, streets, avenues or highways, within a radius of one mile to  any
  of  the  projects,  or  partly  for  such  purposes and partly for other
  village purposes, by purchase or condemnation in the manner provided  by
  law  for  the  acquisition  of  real  property  by the village. For like
  purposes, the  village  may  close  such  streets,  roads,  avenues,  or
  highways  as may be necessary or convenient, except as to state highways
  and arterial ways which may not be closed without  the  consent  of  the
  state commissioner of transportation.
    (c)  Contracts  may  be  entered  into  between  the  village  and the
  authority providing for the property to be conveyed by  the  village  to
  the authority, the additional property to be acquired by the village and
  so  conveyed,  the streets, roads, avenues, and highways to be closed by
  the village and the amounts, terms and conditions of payment to be  made
  by  the  authority.  Such  contracts  may  also contain covenants by the
  village as to the road, street, avenue and highway  improvements  to  be
  made  by  the  village.  Any  such contracts between the village and the
  authority may be pledged by the authority to secure its  bonds  and  may
  not  be  modified  thereafter  except  as  provided  by the terms of the
  pledge. The board of trustees may authorize such contracts  between  the
  village  and the authority and no other authorization on the part of the
  village for such contracts shall be necessary. Any such contracts may be
  so authorized and entered into by the village and in such manner as  the
  board of trustees may determine, and the payments required to be made by
  the  village  may be made and financed notwithstanding that no provision
  therefor shall have first  been  made  in  the  capital  budget  of  the
  village. All contractual or other obligations of the village incurred in
  carrying  out  the  provisions  of  this  title shall be included in and
  provided for by each capital budget of the village thereafter  made,  if
  and to the extent that they may appropriately be included therein.
    (d)  Subject  to  the  provisions of subsection (d) of section fifteen
  hundred ninety-nine-ccc hereof, the authority may  itself  acquire  real
  property  for  a  project  in  the  name  of the village at the cost and
  expense of the authority by purchase or  condemnation  pursuant  to  the
  condemnation law or pursuant to the laws relating to the condemnation of
  land  by  the village. The authority shall have the use and occupancy of
  such real property so long as its corporate existence shall continue.
    (e) In case the authority shall have the use and occupancy of any real
  property which it shall determine is no longer required  for  a  project
  then,  if such real property was acquired at the cost and expense of the
  village, the authority  shall  have  power  to  surrender  its  use  and
  occupancy thereof to the village, or, if such real property was acquired
  at  the cost and expense of the authority, then the authority shall have
  power to sell, lease or otherwise  dispose  of  said  real  property  at
  public  or  private sale, and shall retain and have the power to use the

  proceeds of sale, rentals, or other moneys derived from the  disposition
  thereof for its purposes.
    * NB Authority ceased to exist 06/01/1976
    * NB There are 2 § 1599-fff's