§ 120 — Option

§ 120. Option. (a) The local governing body may, at the time of\ngranting the consent to incorporation, require an option to purchase the\nsystem from the corporation or at any time shall have the right to\npurchase or acquire it by condemnation. The local governing body may\nexercise this option by serving written notice on the corporation, not\nless than ninety nor more than one hundred eighty days before the date\nof the taking.\n (b) In Suffolk county and Saratoga county, the county sewer agency\nhaving the prior consent of the local governing body and the county\nlegislature or a county district shall have an option to purchase the\nsewer system from the corporation by paying the cost thereof and for all\nadditions and improvements as certified by the engineer as of the date\nof completion thereof pursuant to section one hundred eighteen, less\ndepreciation on a schedule initially agreed upon but not to exceed\nthirty years, together with the cost of the land and other costs thereof\nas of the date of completion. The said county agency or county district\nmay exercise its option by serving written notice on the corporation not\nless than ninety nor more than one hundred eighty days before the date\nof taking. The county agency or county district may, instead of making\nany cash payment agreed or required to be made to the corporation as\ncompensation for such sewer system and land, elect to agree to pay the\nprincipal of and interest on outstanding bonds and mortgages issued by\nor on behalf of such corporation, having a principal amount not\nexceeding the amount of such cash payment, as such principal and\ninterest shall become due and payable. In the event the county agency\ndoes undertake to purchase, maintain and operate such sewer system, it\nshall do so at the rates established from time to time and agreed to\nbetween the county agency and the local governing body, with the costs,\nincluding delinquent accounts, assessed against the users until such\ntime as the sewer system is included in a sewer district which shall\nmaintain and operate the sewer system. Notwithstanding the foregoing\nprovisions, in Suffolk county and Saratoga county a county district may\nelect to acquire the sewer system, including any and all plant sites and\nother real property pursuant to the provisions of the eminent domain\nprocedure law and in such event the provisions of such law shall apply.\n