§ 1599-FFF*2 — Conveyance of property by the city to the authority; acquisition of property by the city or by the authority

* § 1599-fff. Conveyance of property by the city to the authority;\nacquisition of property by the city or by the authority. 1. The city\nmay, by resolution or resolutions of the council or by instruments\nauthorized by such resolutions, convey, with or without consideration,\nto the authority real and personal property owned by the city for use by\nthe authority as a project or projects or a part thereof. In case of\nreal property so conveyed, the title thereto shall remain in the city\nbut the authority shall have the use and occupancy thereof for so long\nas its corporate existence shall continue. In the case of personal\nproperty so conveyed, the title shall pass to the authority.\n 2. The city may acquire in the name of the city by purchase or\ncondemnation 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 purchase or condemnation in the manner provided by law for\nthe acquisition of real property by the city. For like purposes, the\ncity 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 3. 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. Any such\ncontracts between the city and the authority may be pledged by the\nauthority to secure its bonds and may not be modified thereafter except\nas provided by the terms of the pledge. The council may authorize such\ncontracts between the city and the authority and no other authorization\non the part of the city for such contracts shall be necessary. Any such\ncontracts may be so authorized and entered into by the city and in such\nmanner as the council may determine, and the payments required to be\nmade by the city may be made and financed notwithstanding that no\nprovision therefor shall have first been made in the capital budget of\nthe city. All contractual or other obligations of the city incurred in\ncarrying out the provisions of this title shall be included in and\nprovided for by such capital budget of the city thereafter made, if and\nto the extent that they may appropriately be included therein.\n 4. The authority may itself acquire real property for a project in the\nname of the city at the cost and expense of the authority by purchase or\ncondemnation pursuant to the condemnation law or pursuant to the laws\nrelating to the condemnation of land by the city. The authority shall\nhave the use and occupancy of such real property so long as its\ncorporate existence shall continue.\n 5. 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 real property was acquired at the cost and expense of the\ncity, the authority shall have 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 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 04/01/1977\n * NB There are 2 § 1599-fff's\n