N.Y. Public Authorities Law § 2049-dd: Advances on behalf of authority; transfer of property to authority; acquisition of property for authority

§ 2049-dd. Advances on behalf of authority; transfer of property to

authority; acquisition of property for authority. 1. In addition to any

powers granted to it by law, the legislative body of the counties may,

from time to time, appropriate by resolution sums of money to defray

project costs or any other costs and expenses of the authority. Subject

to the rights of bondholders, each such legislative body may determine

if the moneys so appropriated shall be subject to repayment by the

authority to any such county and, in such event, the manner and time or

times for such repayment.

2. The counties or any other municipality within the area of

operation, may give, grant, sell, convey, loan, license the use of or

lease to the authority any property or facility which is useful in

connection with the exercise by the authority of its powers under this

title. Any such gift, grant, sale, conveyance, loan, license or lease

shall be for such consideration, be upon such terms and conditions,

subject to the rights of the holders of any bonds, as the authority and

such county or other municipality may agree. Any such gifts, grant,

sale, conveyance, loan or license shall not be subject to referendum,

permissive or mandatory. The authority, in furtherance of any purchase,

conveyance or lease of any property or facility from any county or other

municipality, may assume the primary responsibility for the payment of

the principal and interest on any bonds or notes issued by such county

or other municipality for such property or facility. For purposes of

section 136.00 of the local finance law, any agreement by the authority

to assume the primary responsibility for the payment of the principal

and interest on any bonds or notes issued by any such county or other

municipality shall, so long as such agreement shall continue to be

honored by the authority, cause such bonds or notes to be deemed to have

been refunded and any such county or other municipality may deduct from

its gross indebtedness any outstanding indebtedness contracted for such

property or facility to be acquired by the authority.

3. The counties may acquire by purchase or condemnation real property

in the name of such counties or county for any corporate purpose of the

authority.

4. Notwithstanding the provisions of any other law, general, special

or local, real property acquired by the authority or the counties from

the state may be used for any corporate purpose of the authority.