§ 1622-F — Conveyance of property by the village to the authority; acquisition of property by the village or by the authority

§ 1622-f. Conveyance of property by the village to the authority;\nacquisition of property by the village or by the authority. 1. The\nvillage may, by resolution or resolutions of the village board or by\ninstruments authorized by such resolutions, convey, with or without\nconsideration, to the authority real and personal property owned by the\nvillage for use by the authority as a project or projects or a part\nthereof or in connection therewith and pledge and pay to the authority,\nas security for its bonds, notes or other liabilities, certain revenues\nand income of the village from parking facilities owned or operated by\nthe village. In case of real property so conveyed, the title thereto\nshall remain in the village but the authority shall have the use and\noccupancy thereof for so long as its corporate existence shall continue,\nunless otherwise provided for by the authority and the village. In the\ncase of personal property so conveyed, the title shall pass to the\nauthority.\n 2. The village may acquire by gift, purchase or condemnation real\nproperty in the name of the village for any of the projects or for the\nwidening of existing roads, streets, parkways, avenues or highways or\nfor new roads, streets, parkways, avenues or highways to any of the\nprojects, or partly for such purposes and partly for other village\npurposes, by gift, purchase or condemnation in the manner provided by\nlaw for the acquisition of real property by the village. For like\npurposes, the village may close such streets, roads, parkways, avenues,\nor highways as may be necessary or convenient, except as to state\nhighways and arterial ways which may not be closed without the consent\nof the state commissioner of transportation.\n 3. Contracts may be entered into between the village and the authority\nproviding for the property to be conveyed or pledged and paid by the\nvillage to the authority, the additional property to be acquired by the\nvillage and so conveyed, the streets, roads, parkways, avenues, and\nhighways to be closed by the village and the amounts, terms and\nconditions of payment to be made by the authority. Such contracts may\nalso contain covenants by the village as to the road, street, parkway,\navenue and highway improvements to be made by the village and as to such\nmatters which pertain to any conveyance or pledge and payment of moneys\nor property to the authority. Any such contracts between the village and\nthe authority may be pledged by the authority to secure its bonds and\nnotes and may not be modified thereafter except as provided by the terms\nof such contract and such pledge. The village board of trustees may\nauthorize such contracts between the village and the authority and no\nother authorization on the part of the village for such contracts shall\nbe necessary. Any such contracts may be so authorized and entered into\nby the village and in such manner as the village board of trustees may\ndetermine, and the payments required to be made by the village may be\nmade and financed notwithstanding that no provision therefor shall have\nfirst been made in the capital budget of the village. All contractual or\nother obligations of the village incurred in carrying out the provisions\nof this title shall be included in and provided for by each capital\nbudget of the village thereafter made, if and to the extent that they\nmay appropriately be included therein.\n 4. Subject to subdivision four of section sixteen hundred twenty-two-d\nhereof, the authority may itself, subject to prior approval of the\nvillage board of trustees, acquire, in the name of the village, real\nproperty necessary or convenient in connection with any project at the\ncost and expense of the authority by purchase or condemnation pursuant\nto the eminent domain procedure law or pursuant to the laws relating to\nthe condemnation of land by the village. The authority shall have the\nuse and occupancy of such real property so long as its corporate\nexistence 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\nvillage, the authority shall have power to surrender its use and\noccupancy thereof to the village, or, if such real property was acquired\nat the cost and expense of the authority, then the authority shall have\npower to sell, lease or otherwise dispose of said real property at\npublic or private sale, and shall retain and have the power to use the\nproceeds of sale, rentals or other moneys derived from the disposition\nthereof for its purposes.\n