N.Y. Public Authorities Law § 1570-e: Conveyance of property by the village to the authority; acquisition of property by the village or by the authority

§ 1570-e. Conveyance of property by the village to the authority;

acquisition of property by the village or by the authority. 1. The

village may, by resolution or resolutions of the board of trustees of

the village or by instruments authorized by such resolutions, convey,

with or without consideration, and upon appropriate conditions as to

outstanding village bonds appertaining thereto, 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.

2. 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 shall not be closed without the consent of the

commissioner of transportation.

3. 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 shall not be

modified thereafter except as provided by the terms of the pledge. The

board of trustees of the village 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 of the village may determine, and the payments

required to be made by the village may be made and financed

notwithstanding that no provisions 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 provision 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.

4. 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 eminent domain procedure 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.

5. 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 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

the 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.