§ 2799-EEE — Advances on behalf of authority, transfer of property to authority, acquisition of property by city or authority

§ 2799-eee. Advances on behalf of authority, transfer of property to\nauthority, acquisition of property by city or authority. 1. In addition\nto any powers granted to it by law, the city or any other public\ncorporation may, from time to time, appropriate by ordinance or\nresolution sums of money to defray project costs or any other costs and\nexpenses of the authority including operating expenses. Subject to the\nrights of bondholders, the city or such other public corporation may\ndetermine if the moneys so appropriated shall be subject to repayment by\nthe authority to the city or such other public corporation and, in such\nevent, the manner and time or times for such repayment.\n 2. Notwithstanding any inconsistent provision of any general, special\nor local law, ordinance, resolution or charter, any public corporation\nmay, by a majority vote of its governing body and the approval of its\nchief executive officer, give, grant, sell, convey, loan, license the\nuse of or lease to the authority any property or facilities, including\naviation facilities and pollution control facilities, which are useful\nin connection with the exercise by the authority of its powers under\nthis title. Any such gift, grant, sale, conveyance, loan, license or\nlease shall be upon such terms and conditions, and for such term or\nterms of years, subject to the rights of the holders of any bonds, as\nthe authority and such public corporation may agree. Any such gift,\ngrant, sale, conveyance, lease, loan or license shall not be subject to\nreferendum, permissive or mandatory. In the event that any public\ncorporation gives, grants, sells, conveys, loans, licenses or leases any\naviation facilities, real property, facilities or pollution control\nfacilities to the authority, such public corporation may contract with\nthe authority to lease, borrow, license, operate, maintain, manage and\nprovide services for such real property or facilities upon such terms\nand conditions and for such term or terms of years, subject to the\nrights of holders of bonds, as the authority and such public corporation\nmay agree. The authority, in furtherance of any purchase, conveyance or\nlease of any property or facility from any public corporation, may\nassume the primary responsibility for the payment of the principal and\ninterest on any bonds or notes issued by such public corporation for\nsuch property or facility. For purposes of section 136.00 of the local\nfinance law, any agreement by the authority to assume the primary\nresponsibility for the payment of the principal and interest on any\nbonds or notes issued by any such public corporation shall, so long as\nsuch agreement shall continue to be honored by the authority, cause such\nbonds or notes to be deemed to have been refunded and any such public\ncorporation may deduct from its gross indebtedness any outstanding\nindebtedness contracted for such property or facility to be acquired by\nthe authority.\n 3. The city may acquire by purchase, grant, lease, gift or\ncondemnation pursuant to the eminent domain procedure law real property\nin the name of the city for any corporate purpose of the authority.\n 4. Notwithstanding the provisions of any other law, general, special\nor local, real property acquired by the authority or the city from the\nstate may be used for any corporate purpose of the authority.\n