2006 New York Code - Purchase Of Tax Liens.

 
    § 2435-c. Purchase of tax liens. (1) The agency or its tax lien entity
  may purchase, and contract to purchase, tax liens from municipalities at
  such price or prices, upon such terms and conditions and in such manner,
  as the agency shall deem advisable.
    (2)  The  agency shall require as a condition of purchase of tax liens
  from municipalities that each  such  municipality  shall  agree  (i)  to
  promptly  pay,  as  directed  by the agency, any moneys collected by the
  municipality in connection with the redemption and cancellation of  such
  tax  liens,  (ii)  to  pay,  subject to appropriation by the appropriate
  legislative body of such municipality, any amounts due and owing to  the
  agency or its tax lien entity as a result of the sale of such tax liens,
  (iii)  to  make  such  covenants,  representations,  and warranties with
  respect to the tax liens sold as required to effectuate the sale of such
  tax liens and  facilitate  the  marketing  of  tax  lien  collateralized
  securities  issued  by  the  agency  or  its tax lien entity and (iv) to
  accept a note or other instrument issued by the agency or its  tax  lien
  entity to evidence any contingent amounts payable under the terms of the
  purchase and sale agreement. All municipalities selling tax liens to the
  agency  or  its  tax lien entity are hereby authorized to make and carry
  out the agreements with the agency or its tax lien entity as required in
  this subdivision. All municipalities are  also  authorized  to  sell  on
  their  own  behalf,  or  have  the agency or its tax lien entity sell on
  their own behalf, all or part of the contingent amounts payable to  such
  municipalities  under  the  terms  of  a  tax  lien  purchase  and  sale
  agreement.
    (2-a) In connection with the purchase  or  proposed  purchase  of  tax
  liens  by  the agency or its tax lien entity, the agency or its tax lien
  entity may purchase,  and  contract  to  purchase,  real  property  from
  municipalities  acquired  by  the  municipalities  pursuant  to  any tax
  enforcement proceeding, and which have not yet been disposed of by  such
  municipalities.
    (3)  In  connection with the sale or proposed sale of tax liens to the
  agency or its tax lien entity, any municipality may, notwithstanding the
  provisions of any general or special law to the contrary, pay  (i)  such
  fixed  or  annual  charges as may be prescribed from time to time by the
  agency for or with respect to the purchase by the agency or its tax lien
  entity of the tax liens of such municipality, and (ii)  all  charges  or
  expenses  necessary for the conversion or reconversion of any of its tax
  liens into such form as may be required by the agency in connection with
  any sale or other disposition of such tax liens.