New York § 1126 Advances on behalf of the authority; transfer of property to authority; acquisition of property by town for authority

New York Statutes

§ 1126 — Advances on behalf of the authority; transfer of property to authority; acquisition of property by town for authority

New York § 1126

Law PBAPublic Authorities

Title 6-CTown of Wilton Water and Sewer Authority

Art. 5Public Utility Authorities

This text of New York § 1126 (Advances on behalf of the authority; transfer of property to authority; acquisition of property by town for authority) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Public Authorities § 1126 (2026).

Text

* § 1126. Advances on behalf of the authority; transfer of property to\nauthority; acquisition of property by town for authority.

1.In addition\nto any powers granted to it by law, the town, from time to time, may\nappropriate sums of money to or on behalf of the authority to defray\nproject costs or any other costs and expenses of the authority. Subject\nto the rights of bondholders, the town may determine if the moneys so\nappropriated shall be subject to repayment by the authority to the town\nand, in such event, the manner and time or times for such repayment.\n 2. The town or any other municipality may give, grant, sell, convey,\nloan, license the use of or lease to the authority any property or\nfacility which is useful to the authority in order to carry out its\npowers under thi

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* § 1126. Advances on behalf of the authority; transfer of property to\nauthority; acquisition of property by town for authority. 1. In addition\nto any powers granted to it by law, the town, from time to time, may\nappropriate sums of money to or on behalf of the authority to defray\nproject costs or any other costs and expenses of the authority. Subject\nto the rights of bondholders, the town may determine if the moneys so\nappropriated shall be subject to repayment by the authority to the town\nand, in such event, the manner and time or times for such repayment.\n 2. The town or any other municipality may give, grant, sell, convey,\nloan, license the use of or lease to the authority any property or\nfacility which is useful to the authority in order to carry out its\npowers under this title. Any such transfer of property shall be upon\nsuch terms and conditions, subject to the rights of the holders of any\nbonds, as the authority and the town or other municipality may agree.\n 3. The town may acquire by purchase or by exercise of the power of\neminent domain real property in the name of the town for any corporate\npurpose of the authority.\n 4. Notwithstanding the provisions of any other law, general, special\nor local to the contrary, real property acquired by the authority or the\ntown from the state may be used for any corporate purpose of the\nauthority.\n * NB There are 2 § 1126's\n