N.Y. General Municipal Law § 98-a: Acquisition and lease of railroad facilities

§ 98-a. Acquisition and lease of railroad facilities. 1. Two or more

cities, towns or villages in the same county or adjoining counties may

jointly acquire, by purchase, lease, condemnation or otherwise, railroad

rights-of-way and other railroad facilities and property, except rolling

stock, located in such county or counties, and may lease the same to a

railroad corporation, for periods not in excess of one year and expiring

not later than the first day of July next succeeding the effective date

of such lease, subject to an agreement for the maintenance and operation

of such rights-of-way, facilities and property for public use in the

transportation of persons or property.

2. The local law, ordinance or resolution providing for such action

shall be adopted by the governing board of each such municipality and

shall create a committee, to be at all times composed of members of each

of such boards, to acquire such rights-of-way, facilities and property,

in the name of the municipalities jointly, and as their joint agent, and

may specify matters as to which the action of the committee shall

require the joint approval of such boards. The local law, ordinance or

resolution shall also prescribe the proportions of the cost of such

project to be borne by the respective municipalities.

3. The acquisition and lease of such rights-of-way, facilities and

property are hereby declared city, town and village purposes. The

expenses incurred in connection herewith shall be a city, town or

village charge, as the case may be, and may be paid for by appropriation

of moneys available therefor or may be financed in whole or part

pursuant to the local finance law. The period of probable usefulness of

any indebtedness contracted pursuant to this section shall be thirty

years.

4. Such local law, ordinance or resolution may be amended from time to

time with the concurrence of each of such boards, and additional

municipalities may be included therein, in the same manner and subject

to the same conditions as were applicable to the original municipalities

participating therein.

5. In the event of the abandonment of such project, all rights-of-way,

facilities and property acquired by the participating municipalities may

be sold and the proceeds distributed in the same proportion as

contributions were made.

6. No acquisition, lease or agreement entered into pursuant to this

section after the effective date of this subdivision shall be effective

until the terms and conditions thereof shall have been approved by the

state commissioner of transportation.