N.Y. Public Authorities Law § 1600-f: Conveyance of property by the village to the authority; acquisition of property by the village or by the authority

* § 1600-f. 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 village board or by

instruments authorized by such resolutions, convey, with or without

consideration, 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 or in connection therewith and pledge and pay to the authority,

as security for its bonds, notes or other liabilities, certain revenues

and income of the village from parking facilities owned or operated by

the village. 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,

unless otherwise provided for by the authority and the village. In the

case of personal property so conveyed, the title shall pass to the

authority.

2. The village may acquire by gift, purchase or condemnation real

property in the name of the village for any of the projects or for the

widening of existing roads, streets, parkways, avenues or highways or

for new roads, streets, parkways, avenues or highways to any of the

projects, or partly for such purposes and partly for other village

purposes, by gift, 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, parkways, avenues,

or highways as may be necessary or convenient, except as to state

highways and arterial ways which may not be closed without the consent

of the state commissioner of transportation.

3. Contracts may be entered into between the village and the authority

providing for the property to be conveyed or pledged and paid by the

village to the authority, the additional property to be acquired by the

village and so conveyed, the streets, roads, parkways, 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, parkway,

avenue and highway improvements to be made by the village and as to such

matters which pertain to any conveyance or pledge and payment of moneys

or property to the authority. Any such contracts between the village and

the authority may be pledged by the authority to secure its bonds and

notes and may not be modified thereafter except as provided by the terms

of such contract and such pledge. The village board of trustees 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 village board of trustees may

determine, and the payments required to be made by the village may be

made and financed notwithstanding that no provision 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 provisions

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. Subject to subsection (4) of section sixteen hundred-d hereof, the

authority may itself, subject to prior approval of the village board of

trustees, acquire, in the name of the village, real property necessary

or convenient in connection with any project at the cost and expense of

the authority by purchase or condemnation pursuant to the condemnation

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 real 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

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.

* NB Ceased to exist December 31, 1999