N.Y. Transportation Corporations Law § 71: Powers

§ 71. Powers. Any such corporation shall have power to take by grant

or by assignment a franchise or right to establish and operate a ferry

or ferries, as specified in the certificate of incorporation, subject to

the rights of any person, or municipal or other corporation.

In any case when an application is made to the local governing body of

a county without the city of New York for a grant such local governing

body is authorized to make such grant if a public necessity therefor is

shown. Whenever it is shown to such local governing body upon an

application for a grant that the tangible property of a ferry

corporation, employed or to be employed in the exercise of a ferry

franchise or right, is of the value of at least ten thousand dollars,

such local governing body may grant such franchise or right for a period

not exceeding fifteen years.

A ferry corporation, now enjoying a grant from a county court or such

local governing body for a shorter period, shall be entitled to an

extension thereof for a period not exceeding fifteen years from the time

of granting such extension, on application and due proof to the local

governing body of a county that its tangible property, employed in the

exercise of such ferry franchise or right, is of the value of at least

ten thousand dollars.