New York § 2041-C Advances on behalf of authority; transfer of property to authority; acquisition of property by participating counties for authority

New York Statutes

§ 2041-C — Advances on behalf of authority; transfer of property to authority; acquisition of property by participating counties for authority

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§ 2041-c. Advances on behalf of authority; transfer of property to\nauthority; acquisition of property by participating counties for\nauthority.

1.In addition to any powers granted to it by law, any\nparticipating county may by resolution advance sums of money to or on\nbehalf of the authority to defray project costs or any other costs and\nexpenses of the authority to be incurred prior to the first issuance of\nbonds. Subject to the rights of any bondholders, the moneys so\nappropriated may be repaid by the authority to the participating county\nat such time and in such manner as may be agreed upon between the\nauthority and the participating county.\n 2. Any participating county or any other municipality within the area\nof operation may give, grant, sell, convey, loan or license the

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§ 2041-c. Advances on behalf of authority; transfer of property to\nauthority; acquisition of property by participating counties for\nauthority. 1. In addition to any powers granted to it by law, any\nparticipating county may by resolution advance sums of money to or on\nbehalf of the authority to defray project costs or any other costs and\nexpenses of the authority to be incurred prior to the first issuance of\nbonds. Subject to the rights of any bondholders, the moneys so\nappropriated may be repaid by the authority to the participating county\nat such time and in such manner as may be agreed upon between the\nauthority and the participating county.\n 2. Any participating county or any other municipality within the area\nof operation may give, grant, sell, convey, loan or license the use of\nor lease to the authority any property or facility which is useful to\nthe authority in order to carry out its powers under this title. Any\nsuch transfer of property shall be upon such terms and conditions,\nsubject to the rights of any bondholders, as the authority and the\nparticipating county or other municipality may agree.\n 3. Notwithstanding the provisions of any other law, general, special\nor local, real property acquired by the authority or any participating\ncounty from the state may be used for any corporate purpose of the\nauthority.\n

New York § 2041-C (Advances on behalf of authority; transfer of property to authority; acquisition of property by participating counties for authority) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.