New York § 2642-I Advances on behalf of authority; transfer of property to authority; acquisition of property for authority

New York Statutes

§ 2642-I — Advances on behalf of authority; transfer of property to authority; acquisition of property for authority

New York § 2642-I

Law PBAPublic Authorities

Title 28-AAChautauqua, Cattaraugus, Allegany and Steuben Southern Tier Extension Railroad Authority

Art. 8Miscellaneous Authorities

This text of New York § 2642-I (Advances on behalf of authority; transfer of property to authority; acquisition of property for 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 § 2642-I (2026).

Text

§ 2642-i. 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, any participating county may by resolution\nadvance sums of money to or on behalf of the authority to defray costs\nor expenses of the authority to be incurred prior to the first issuance\nof bonds. 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 municipality along the southern\ntier extension railroad line may by resolution give, grant, sell,\nconvey, lend, or license the use of or lease to the au

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§ 2642-i. 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, any participating county may by resolution\nadvance sums of money to or on behalf of the authority to defray costs\nor expenses of the authority to be incurred prior to the first issuance\nof bonds. 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 municipality along the southern\ntier extension railroad line may by resolution give, grant, sell,\nconvey, lend, or license the use of or lease to the authority any\nproperty or facility which is useful to the authority in order to carry\nout its powers under this title. Any such transfer of property shall be\nupon such terms and conditions, subject to the rights of any\nbondholders, as the authority and the participating county or the\nmunicipality 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