There is a newer version of the New York Consolidated Laws
2006 New York Code - Acquisition Or Leasing Of Property By City Or Corporation; Agreements Between City And Corporation As To Use Or Occupancy Of Property.
§ 607. Acquisition or leasing of property by city or corporation; agreements between city and corporation as to use or occupancy of property. 1. The city may, in accordance with the provisions of law governing the acquisition or leasing of real property by the city, acquire real property in the name of the city by purchase or condemnation for use by the corporation, or lease real property from other owners for such purpose, and, by resolution of the board of estimate, may through lease or contract made upon such terms and conditions, with or without consideration, and for such period of time as may be agreed upon by the city and the corporation, authorize the use or occupancy of such real property by the corporation for the carrying out of its corporate purpose. 2. The city may, in accordance with the provisions of law governing the acquisition or leasing of personal property by the city, acquire or lease personal property for use by the corporation and, acting by the mayor, may by lease or contract made upon such terms and conditions, with or without consideration, and for such period of time as may be agreed upon by the city and the corporation authorize the use of such property by the corporation or transfer title to such property to it, for the carrying out of its corporate purpose. 3. The city may, by resolution of the board of estimate, or by an instrument authorized by such a resolution, authorize the corporation to use or occupy for its corporate purpose any real property then owned by or under lease to the city, upon such terms and conditions, with or without consideration, and for such period of time, as may be agreed upon by the city and the corporation; provided that, in the case of any such property then under lease to the city, the authorization granted by the city to the corporation shall be within and consistent with the rights of the city as lessee of such property. 4. The corporation for the carrying out of its corporate purpose, may itself acquire real property in the name of the city at the cost and expense of the corporation by purchase or condemnation pursuant to the laws governing the condemnation of real property by the city. The corporation shall have the use and occupancy of such real property so long as its corporate existence shall continue. 5. a. Contracts may be entered into by the city and the corporation containing undertakings by the city (i) to acquire or lease real or personal property and authorize the use or occupancy of same by the corporation, or (ii) to authorize the corporation to use or occupy real or personal property then owned by or under lease to the city, or (iii) to perform any other acts on the part of the city authorized by subdivisions one, two and three of this section, provided the acts of the city called for by such undertakings are in conformity with the provisions of, and within the powers granted to the city by, subdivisions one, two and three of this section. The making of any such contract shall be authorized, on behalf of the city, by the mayor, or the board of estimate, or by both, as the case may be, in the same manner as the act or acts of the city called for by the undertaking or undertakings in such contract are required to be authorized under the applicable provisions of subdivisions one, two and three of this section. b. Any such contract between the city and the corporation may be pledged by the corporation to secure its bonds or notes and may not be modified thereafter except as provided by the terms of the pledge. 6. In case the corporation shall have the use or occupancy of any real property which it shall determine is no longer required for the carrying out of its corporate purpose, then, if such real property was acquired at the cost and expense of the city, the corporation shall have power to surrender its use or occupancy thereof to the city, or, if such real property was acquired at the cost and expense of the corporation, the corporation shall have power to sell, lease or otherwise dispose of said real property at public or private sale, and shall retain and have the power to use the proceeds of sale, rentals, or other moneys derived from the disposition thereof for its corporate purpose. 7. The site selection board, as defined in section six hundred two of this article shall operate pursuant to the following procedures: a. Every act of the board shall be by resolution adopted by a majority of the votes cast by all the members. No resolution shall be adopted except after a public hearing, notice of which shall be published in the city record for six consecutive days immediately preceding said hearing. b. Meeting of the site selection board shall be called either: (i) as directed by the board upon notice thereof published in the city record; or (ii) upon written notice to the board by the president of the corporation, that a site for an off-track betting branch office is under consideration by the corporation for lease or acquisition. A copy of such written notice shall be published in the city record. All meetings of the board shall be within seven consecutive business days of the date on which notice of said meeting is first printed in the city record. c. The site selection board shall have power and authority to adopt and amend rules and regulations for the conduct of its business and to carry out its powers and duties; provided, however, that the board shall adopt rules which require board action on a proposed site within thirty days of the board's public hearing provided for herein and that by its failure to act within thirty days the board shall be deemed to have approved the site.
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