New York § 2618 Property and income of the authority

New York Statutes

§ 2618 — Property and income of the authority

New York § 2618

Law PBAPublic Authorities

Title 28New York State Olympic Regional Development Authority

Art. 8Miscellaneous Authorities

This text of New York § 2618 (Property and income of the authority) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Public Authorities § 2618 (2026).

Text

§ 2618. Property and income of the authority.

1.The property of the\nauthority and its income and operations shall be exempt from assessments\nof every kind and nature.\n 2. The authority may receive, accept, invest, administer, expend and\ndisburse for its corporate purposes appropriations from the state and\nthe park district, and other revenues and moneys made available or to be\nmade available to it from any or all sources public or private.\n 3. Any such moneys of the authority not required for immediate use\nmay, at the discretion of the authority, be invested pursuant to the\nprovisions of section ninety-eight-a of the state finance law.\n 4. The authority shall accept from the New York state urban\ndevelopment corporation, created by chapter one hundred seventy-four of\nthe l

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§ 2618. Property and income of the authority. 1. The property of the\nauthority and its income and operations shall be exempt from assessments\nof every kind and nature.\n 2. The authority may receive, accept, invest, administer, expend and\ndisburse for its corporate purposes appropriations from the state and\nthe park district, and other revenues and moneys made available or to be\nmade available to it from any or all sources public or private.\n 3. Any such moneys of the authority not required for immediate use\nmay, at the discretion of the authority, be invested pursuant to the\nprovisions of section ninety-eight-a of the state finance law.\n 4. The authority shall accept from the New York state urban\ndevelopment corporation, created by chapter one hundred seventy-four of\nthe laws of nineteen hundred sixty-eight, constituting the New York\nstate urban development corporation act, all of the personal property\nacquired by it from Lake Placid nineteen hundred eighty Olympic\nOrganizing Games, Inc.\n