§ 1114-S — Acquisition by eminent domain

New York § 1114-S

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 5-A: South Nassau Water Authority
• Art. 5: Public Utility Authorities

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* § 1114-s. Acquisition by eminent domain. Notwithstanding any\nprovision of the eminent domain procedure law to the contrary, in any\nproceeding brought by the authority pursuant to said law, title shall\nvest in the authority and compensation shall be paid only:\n 1. upon a decision by the supreme court that compensation for the\nproperty so condemned shall be determined solely by the income\ncapitalization method of valuation, based on the actual net income as\nallowed by the public service commission; and\n 2. upon such court's determination of the amount of such compensation,\nbased upon the income capitalization method, entry of the final\njudgment, the filing of the final decree, and the conclusion of any\nappeal or expiration of the time to file an appeal related to the\ncondemnation proceeding. Should any court determine that a method of\ncompensation other than the income capitalization method be utilized, or\nif the proposed award is more than the rate base of the assets taken in\ncondemnation as utilized by the public service commission in setting\nrates and as certified by the public service commission, the authority\nmay withdraw the condemnation proceeding without prejudice or costs to\nany party.\n * NB There are 2 § 1114-s's\n