N.Y. Public Authorities Law § 2799-eee: Advances on behalf of authority, transfer of property to authority, acquisition of property by city or authority

§ 2799-eee. Advances on behalf of authority, transfer of property to

authority, acquisition of property by city or authority. 1. In addition

to any powers granted to it by law, the city or any other public

corporation may, from time to time, appropriate by ordinance or

resolution sums of money to defray project costs or any other costs and

expenses of the authority including operating expenses. Subject to the

rights of bondholders, the city or such other public corporation may

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

the authority to the city or such other public corporation and, in such

event, the manner and time or times for such repayment.

2. Notwithstanding any inconsistent provision of any general, special

or local law, ordinance, resolution or charter, any public corporation

may, by a majority vote of its governing body and the approval of its

chief executive officer, give, grant, sell, convey, loan, license the

use of or lease to the authority any property or facilities, including

aviation facilities and pollution control facilities, which are 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 upon such terms and conditions, and for such term or

terms of years, subject to the rights of the holders of any bonds, as

the authority and such public corporation may agree. Any such gift,

grant, sale, conveyance, lease, loan or license shall not be subject to

referendum, permissive or mandatory. In the event that any public

corporation gives, grants, sells, conveys, loans, licenses or leases any

aviation facilities, real property, facilities or pollution control

facilities to the authority, such public corporation may contract with

the authority to lease, borrow, license, operate, maintain, manage and

provide services for such real property or facilities upon such terms

and conditions and for such term or terms of years, subject to the

rights of holders of bonds, as the authority and such public corporation

may agree. The authority, in furtherance of any purchase, conveyance or

lease of any property or facility from any public corporation, may

assume the primary responsibility for the payment of the principal and

interest on any bonds or notes issued by such public corporation 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 public corporation 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 public

corporation may deduct from its gross indebtedness any outstanding

indebtedness contracted for such property or facility to be acquired by

the authority.

3. The city may acquire by purchase, grant, lease, gift or

condemnation pursuant to the eminent domain procedure law real property

in the name of the city 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 city from the

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