§ 15-1717 — Provisions for the revision and readjustment of rent in licenses

New York § 15-1717

• Jurisdiction: New York
• Law ENV: Environmental Conservation
• Title 17: Water Power
• Art. 15: Water Resources

Text

§ 15-1717. Provisions for the revision and readjustment of rent in\n licenses.\n 1. The annual charge or rental fixed by the department shall continue\nfor the period of the license, unless the license provides for a\nreadjustment of the charge or rental at a specified time or times, in\nwhich case the charge or rental, as fixed by the license, may be revised\nand readjusted by the department according to the terms of the license.\nPayments on account of any such charge or rental shall be treated as a\npart of the operating expense.\n 2. The licensee shall be given ten days' notice of the time and place\nof the meeting of the department at which the question of the revision\nand readjustment of such charge or rental will be considered. The\nrevision and readjustment shall be in the form of a resolution adopted\nby the department and thereafter, the revised and readjusted rental or\ncharge, unless reviewed and reversed or modified as herein provided,\nshall apply to and govern the license.\n 3. Any such decision may be reviewed by the licensee pursuant to the\nprovisions of section 15-0905.\n 4. Pending the final determination of the review proceedings, the\nlicensee shall pay to the state the revised and readjusted rental or\ncharge as fixed by the department; and if it shall be determined that\nthe rental or charge shall be revised, the licensee shall be credited on\nlater payments with any excess he may pay over the rental as finally\nfixed, with interest. If the credits be insufficient to satisfy such\nexcess, the licensee may recover the balance in the Court of Claims.\n