2006 New York Code - Advances On Behalf Of Authority; Transfer Of Property To Authority; Acquisition Of Property For Authority.

 
    §  2642-i.  Advances  on  behalf of authority; transfer of property to
  authority; acquisition of property for authority. 1. In addition to  any
  powers  granted to it by law, any participating county may by resolution
  advance sums of money to or on behalf of the authority to  defray  costs
  or  expenses of the authority to be incurred prior to the first issuance
  of bonds. Subject to the  rights  of  any  bondholders,  the  moneys  so
  appropriated  may be repaid by the authority to the participating county
  at such time and in such manner  as  may  be  agreed  upon  between  the
  authority and the participating county.
    2.  Any  participating  county  or any municipality along the southern
  tier extension railroad  line  may  by  resolution  give,  grant,  sell,
  convey,  lend,  or  license  the  use  of  or lease to the authority any
  property or facility which is useful to the authority in order to  carry
  out  its powers under this title. Any such transfer of property shall be
  upon  such  terms  and  conditions,  subject  to  the  rights   of   any
  bondholders,  as  the  authority  and  the  participating  county or the
  municipality may agree.
    3. Notwithstanding the provisions of any other law, general,  special,
  or  local,  real property acquired by the authority or any participating
  county from the state may be used  for  any  corporate  purpose  of  the
  authority.