N.Y. Tax Law § 1262-l*2: Allocation and distribution of certain net collections in Warren county

* § 1262-l. Allocation and distribution of certain net collections in

Warren county. (a) If the county of Warren enters into an agreement

pursuant to the authority of subdivision (c) of section twelve hundred

sixty-two of this article with the city of Glens Falls to allocate and

distribute a portion of net collections due the county from its taxes

imposed pursuant to the authority of subdivision (a) of section twelve

hundred ten of this article, the agreement may be for a term not

exceeding forty years and the state comptroller shall not disapprove

such agreement based on the length of its term, provided that such term

shall not exceed forty years.

(b) Notwithstanding any contrary provision of this article or of any

agreement between the city of Glens Falls and the county of Warren

pursuant to the authority of subdivision (c) of section twelve hundred

sixty-two of this article, if at any time the board of supervisors of

Warren county shall pledge all or a portion of net collections from

sales and compensating use taxes imposed by such county as described in

section twelve hundred sixty-one-a of this article, any obligation of

the county of Warren to allocate and distribute net collections to the

city of Glens Falls under any such agreement between such city and such

county shall be satisfied if the amounts due such city under such

agreement are instead paid by such county from moneys returned to such

county each month by the Warren and Washington county industrial

development agency or trustee, as the case may be, as provided in such

section twelve hundred sixty-one-a; or, in the event such moneys so

returned to such county are insufficient in any month to allow such

county to pay to such city the amounts required under such agreement,

such county shall make such payments to such city in the amounts and in

the manner set forth in such agreement.

* NB There are 2 § 1262-l's