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

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

authority; acquisition of property by town for authority. 1. In addition

to any powers granted to it by law, the town may by resolution advance

sums of money to or on behalf of the authority to defray project costs

or any other costs and expenses of the authority to be incurred prior to

the first issuance of bonds. Subject to the rights of any bondholders,

the moneys so appropriated shall be repaid by the authority to the town

at such time and in such manner as may be agreed upon between the

authority and the town board.

2. The town or any other municipality may give, grant, sell, convey,

loan or license the use of or lease to the authority any property or

facility which is useful to the authority in order to carry out its

powers under this title. Any such transfer of property shall be upon

such terms and conditions, subject to the rights of any bondholders, as

the authority and the town or other municpality may agree.

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

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

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