N.Y. Public Authorities Law § 1383-a: Sale or lease of industrial projects

§ 1383-a. Sale or lease of industrial projects. Notwithstanding the

provisions of any general, special or local law, subject to any

agreement with noteholders or bondholders, the authority may sell or

lease any industrial project, without public bidding or public sale, for

such price or rental and upon such terms as may be agreed upon between

the authority and such purchaser or lessee, either prior to, at the date

of, or subsequent to the completion of the industrial project by the

authority, provided, however, that in the case of a lease, the term

thereof shall not exceed thirty years. Where such contract for sale or

lease is entered into after the commencement of construction and prior

to the physical completion of the improvement to be conveyed or leased,

the authority may complete the construction and development of such

improvement prior to the actual conveyance or lease.