N.Y. Public Authorities Law § 2642-i: Advances on behalf of authority; transfer of property to authority; acquisition of property for authority

§ 2642-i. 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, any participating county may by resolution

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

or 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 may be repaid by the authority to the participating county

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

authority and the participating county.

2. Any participating county or any municipality along the southern

tier extension railroad line may by resolution give, grant, sell,

convey, lend, 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 participating county or the

municipality may agree.

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

or local, real property acquired by the authority or any participating

county from the state may be used for any corporate purpose of the

authority.