§ 1383-A — Sale or lease of industrial projects

New York § 1383-A

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 3: Ogdensburg Port Authority
• Art. 6: Port Authorities

Text

§ 1383-a. Sale or lease of industrial projects. Notwithstanding the\nprovisions of any general, special or local law, subject to any\nagreement with noteholders or bondholders, the authority may sell or\nlease any industrial project, without public bidding or public sale, for\nsuch price or rental and upon such terms as may be agreed upon between\nthe authority and such purchaser or lessee, either prior to, at the date\nof, or subsequent to the completion of the industrial project by the\nauthority, provided, however, that in the case of a lease, the term\nthereof shall not exceed thirty years. Where such contract for sale or\nlease is entered into after the commencement of construction and prior\nto the physical completion of the improvement to be conveyed or leased,\nthe authority may complete the construction and development of such\nimprovement prior to the actual conveyance or lease.\n