New York § 1599-F*4 Advances on behalf of the authority; conveyance of property by the city to the authority; acquisition of property by the city or by the a...

New York Statutes

§ 1599-F*4 — Advances on behalf of the authority; conveyance of property by the city to the authority; acquisition of property by the city or by the a...

New York·Law PBA Public Authorities·Title 14*** City of Schenectady Parking Authority·Art. 7 Parking Authorities

  * § 1599-f. Advances on behalf of the authority; conveyance of\nproperty by the city to the authority; acquisition of property by the\ncity or by the authority.\n  1. In addition to any powers granted to it by law, the city from time\nto time may appropriate sums of money to or on behalf of the authority\nto defray project costs or any other costs and expenses of the\nauthority.  Subject to the rights of bondholders, the city may determine\nif the moneys so appropriated shall be subject to repayment by the\nauthority to the city and, in such event, the manner and time or times\nfor such repayment.\n  2. The city may, by resolution or resolutions of the city council or\nby instruments authorized by such resolutions, convey, with or without\nconsideration, and upon appropriate conditions a

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* § 1599-f. Advances on behalf of the authority; conveyance of\nproperty by the city to the authority; acquisition of property by the\ncity or by the authority.\n 1. In addition to any powers granted to it by law, the city from time\nto time may appropriate sums of money to or on behalf of the authority\nto defray project costs or any other costs and expenses of the\nauthority. Subject to the rights of bondholders, the city may determine\nif the moneys so appropriated shall be subject to repayment by the\nauthority to the city and, in such event, the manner and time or times\nfor such repayment.\n 2. The city may, by resolution or resolutions of the city council or\nby instruments authorized by such resolutions, convey, with or without\nconsideration, and upon appropriate conditions as to outstanding city\nbonds appertaining thereto, to the authority real and personal property\nowned by the city for use by the authority as a project or projects or a\npart thereof. In the case of real and/or personal property so conveyed,\nthe title shall pass to the authority.\n 3. The city may acquire in the name of the city by gift, purchase or\neminant domain real property in the city for any of the projects or for\nthe widening of existing roads, streets, avenues or highways, or for new\nroads, streets, avenues or highways within a radius of one mile to any\nof the projects, or partly for such purposes and partly for other city\npurposes, by gift, purchase or eminent domain in the manner provided by\nlaw for the acquisition of real property by the city. For like purposes,\nthe city may close such streets, roads, avenues, or highways as may be\nnecessary or convenient, except as to state highways and arterial ways\nwhich may not be closed without the consent of the state commissioner of\ntransportation.\n 4. Contracts may be entered into between the city and the authority\nproviding for the property to be conveyed by the city to the authority,\nthe additional property to be acquired by the city and so conveyed, the\nstreets, roads, avenues, and highways to be closed by the city and the\namounts, terms and conditions of payment to be made by the authority.\nSuch contracts may also contain covenants by the city as to the road,\nstreet, avenue and highway improvements to be made by the city and as to\nsuch matters which pertain to any conveyance of property to the\nauthority. Any such contracts between the city and the authority may be\npledged by the authority to secure its bonds and may not be modified\nthereafter except as provided by the terms of such contract and such\npledge. The city council may authorize such contracts between the city\nand the authority and no other authorization on the part of the city for\nsuch contracts shall be necessary. Any such contracts may be so\nauthorized and entered into by the city and in such manner as the city\ncouncil may determine, and the payments required to be made by the city\nmay be made and financed notwithstanding that no provisions therefor\nshall have first been made in the annual appropriations of the city. All\ncontractual or other obligations of the city incurred in carrying out\nthe provisions of this title shall be included in and provided for by\neach annual appropriation of the city thereafter made, if and to the\nextent that they may appropriately be included therein.\n 5. The authority may itself acquire real property necessary or\nconvenient in connection with any project in the name of the authority\nat the cost and expense of the authority by gift, purchase, or eminent\ndomain pursuant to the eminent domain procedure law or pursuant to the\nlaws relating to the acquisition of land by eminant domain by the city.\n 6. In case the authority shall have the use and occupancy of any real\nproperty which it shall determine is no longer required for a project\nthen, if such property was acquired at the cost and expense of the city,\nthe authority shall have the power to surrender its use and occupancy\nthereof to the city, or, if such real property was acquired at the cost\nand expense of the authority, then the authority shall have the power to\nsell, lease or otherwise dispose of said real property at public or\nprivate sale, and shall retain and have the power to use the proceeds of\nsale, rentals, or other moneys derived from the disposition thereof for\nits purposes.\n * NB Authority ceased to exist 08/05/2002\n * NB There are 4 § 1599-f's\n

New York § 1599-F*4 (Advances on behalf of the authority; conveyance of property by the city to the authority; acquisition of property by the city or by the a...) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.