N.Y. Public Authorities Law § 1206: Omnibus operations

§ 1206. Omnibus operations. 1. The authority, as soon as practicable

and not later than July first, nineteen hundred fifty-five, shall

prepare a plan for the sale and transfer of omnibus facilities under its

jurisdiction to private ownership. Any such plan shall provide that the

proceeds of such sale and transfer shall be paid to the city. No such

plan shall apply or relate to, or have any effect upon, any facilities,

property or franchises, used and usable in the operation of omnibus

lines, acquired by condemnation under subdivision two of section twenty

or section twenty-d of the general city law.

2. The authority shall have power to take such action and execute such

instruments as may be required of it to execute such plan or any

modification thereof.