New York § 2049-E Advances on behalf of authority; transfer of property to authority; acquisition of property by town for authority

New York Statutes

§ 2049-E — Advances on behalf of authority; transfer of property to authority; acquisition of property by town for authority

New York·Law PBA Public Authorities·Title 13-F Town of North Hempstead Solid Waste Management Authority·Art. 8 Miscellaneous Authorities

§ 2049-e. Advances on behalf of authority; transfer of property to\nauthority; acquisition of property by town for authority.

1.In addition\nto any powers granted to it by law, the town may by resolution advance\nsums of money to or on behalf of the authority to defray project costs\nor any other costs and expenses of the authority to be incurred prior to\nthe first issuance of bonds. Subject to the rights of any bondholders,\nthe moneys so appropriated shall be repaid by the authority to the town\nat such time and in such manner as may be agreed upon between the\nauthority and the town board.\n 2. The town or any other municipality may give, grant, sell, convey,\nloan or license the use of or lease to the authority any property or\nfacility which is useful to the authority in order to

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§ 2049-e. Advances on behalf of authority; transfer of property to\nauthority; acquisition of property by town for authority. 1. In addition\nto any powers granted to it by law, the town may by resolution advance\nsums of money to or on behalf of the authority to defray project costs\nor any other costs and expenses of the authority to be incurred prior to\nthe first issuance of bonds. Subject to the rights of any bondholders,\nthe moneys so appropriated shall be repaid by the authority to the town\nat such time and in such manner as may be agreed upon between the\nauthority and the town board.\n 2. The town or any other municipality may give, grant, sell, convey,\nloan or license the use of or lease to the authority any property or\nfacility which is useful to the authority in order to carry out its\npowers under this title. Any such transfer of property shall be upon\nsuch terms and conditions, subject to the rights of any bondholders, as\nthe authority and the town or other municpality may agree.\n 3. Notwithstanding the provisions of any other law, general, special\nor local, real property acquired by the authority or the town from the\nstate may be used for any corporate purpose of the authority.\n

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