Section 2049-DD. Advances on behalf of authority; transfer of property to authority; acquisition of property for authority  


Latest version.
  • 1. In addition to  any  powers  granted  to it by law, the legislative body of the counties may,
      from time to time, appropriate by resolution sums  of  money  to  defray
      project  costs or any other costs and expenses of the authority. Subject
      to the rights of bondholders, each such legislative body  may  determine
      if  the  moneys  so  appropriated  shall  be subject to repayment by the
      authority to any such county and, in such event, the manner and time  or
      times for such repayment.
        2.  The  counties  or  any  other  municipality  within  the  area  of
      operation, may give, grant, sell, convey, loan, license the  use  of  or
      lease  to  the  authority  any  property  or facility which is 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 for such consideration, be  upon  such  terms  and  conditions,
      subject  to the rights of the holders of any bonds, as the authority and
      such county or other municipality may  agree.  Any  such  gifts,  grant,
      sale,  conveyance,  loan  or license shall not be subject to referendum,
      permissive or mandatory. The authority, in furtherance of any  purchase,
      conveyance or lease of any property or facility from any county or other
      municipality,  may  assume the primary responsibility for the payment of
      the principal and interest on any bonds or notes issued by  such  county
      or  other  municipality  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  county  or  other
      municipality  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 county or other municipality may deduct  from
      its  gross indebtedness any outstanding indebtedness contracted for such
      property or facility to be acquired by the authority.
        3. The counties may acquire by purchase or condemnation real  property
      in  the name of such counties or 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 counties from
      the state may be used for any corporate purpose of the authority.