§ 2049-DD — Advances on behalf of authority; transfer of property to authority; acquisition of property for authority

New York § 2049-DD

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 13-FF: Oneida-herkimer Solid Waste Management Authority
• Art. 8: Miscellaneous Authorities

Text

§ 2049-dd. Advances on behalf of authority; transfer of property to\nauthority; acquisition of property for authority. 1. In addition to any\npowers granted to it by law, the legislative body of the counties may,\nfrom time to time, appropriate by resolution sums of money to defray\nproject costs or any other costs and expenses of the authority. Subject\nto the rights of bondholders, each such legislative body may determine\nif the moneys so appropriated shall be subject to repayment by the\nauthority to any such county and, in such event, the manner and time or\ntimes for such repayment.\n 2. The counties or any other municipality within the area of\noperation, may give, grant, sell, convey, loan, license the use of or\nlease to the authority any property or facility which is useful in\nconnection with the exercise by the authority of its powers under this\ntitle. Any such gift, grant, sale, conveyance, loan, license or lease\nshall be for such consideration, be upon such terms and conditions,\nsubject to the rights of the holders of any bonds, as the authority and\nsuch county or other municipality may agree. Any such gifts, grant,\nsale, conveyance, loan or license shall not be subject to referendum,\npermissive or mandatory. The authority, in furtherance of any purchase,\nconveyance or lease of any property or facility from any county or other\nmunicipality, may assume the primary responsibility for the payment of\nthe principal and interest on any bonds or notes issued by such county\nor other municipality for such property or facility. For purposes of\nsection 136.00 of the local finance law, any agreement by the authority\nto assume the primary responsibility for the payment of the principal\nand interest on any bonds or notes issued by any such county or other\nmunicipality shall, so long as such agreement shall continue to be\nhonored by the authority, cause such bonds or notes to be deemed to have\nbeen refunded and any such county or other municipality may deduct from\nits gross indebtedness any outstanding indebtedness contracted for such\nproperty or facility to be acquired by the authority.\n 3. The counties may acquire by purchase or condemnation real property\nin the name of such counties or county for any corporate purpose of the\nauthority.\n 4. Notwithstanding the provisions of any other law, general, special\nor local, real property acquired by the authority or the counties from\nthe state may be used for any corporate purpose of the authority.\n