N.Y. PML Law § 607 — New York Code / Act PML / Article 6 / Section 607
Acquisition or leasing of property by the state or corporation; agreements between the state and corporation as to use or occupancy of pr...
Status: in_force

§ 607. Acquisition or leasing of property by the state or corporation;\nagreements between the state and corporation as to use or occupancy of\nproperty. 1. The state may, in accordance with the provisions of law\ngoverning the acquisition or leasing of real property by the state,\nacquire real property in the name of the state by purchase or\ncondemnation for use by the corporation, or lease real property from\nother owners for such purpose, and may through lease or contract made\nupon such terms and conditions, with or without consideration, and for\nsuch period of time as may be agreed upon by the state and the\ncorporation, authorize the use or occupancy of such real property by the\ncorporation for the carrying out of its corporate purpose.\n  2. The state may, in accordance with the provisions of law governing\nthe acquisition or leasing of personal property by the state, acquire or\nlease personal property for use by the corporation and may by lease or\ncontract made upon such terms and conditions, with or without\nconsideration, and for such period of time as may be agreed upon by the\nstate and the corporation authorize the use of such property by the\ncorporation or transfer title to such property to it, for the carrying\nout of its corporate purpose.\n  3. Contracts may be entered into by the state and the corporation\ncontaining undertakings by the state (i) to acquire or lease real or\npersonal property and authorize the use or occupancy of same by the\ncorporation, or (ii) to perform any other acts on the part of the state\nauthorized by subdivisions one and two of this section, provided the\nacts of the state called for by such undertakings are in conformity with\nthe provisions of, and within the powers granted to the state by,\nsubdivisions one and two of this section. The making of any such\ncontract shall be authorized in the same manner as the act or acts of\nthe state called for by the undertaking or undertakings in such contract\nare required to be authorized under the applicable provisions of\nsubdivisions one and two of this section.\n  4. If such real property was acquired at the cost and expense of the\ncorporation, the corporation shall have power to sell, lease or\notherwise dispose of said real property at public or private sale, and\nshall retain and have the power to use the proceeds of sale, rentals, or\nother moneys derived from the disposition thereof for its corporate\npurpose.\n  5. The site selection board, as defined in section six hundred two of\nthis article shall operate pursuant to the following procedures:\n  a. Every act of the board shall be by resolution adopted by a majority\nof the votes cast by all the members. No resolution shall be adopted\nexcept after a public hearing, notice of which shall be published in the\nstate register for six consecutive business days and in a newspaper of\ngeneral circulation in the city for two consecutive business days\nimmediately preceding said hearing.\n  b. Meeting of the site selection board shall be called either:\n  (i) as directed by the board upon notice thereof published in the\nstate register for six consecutive business days and in a newspaper of\ngeneral circulation in the city for two consecutive business days; or\n  (ii) upon written notice to the board by the president of the\ncorporation, that a site for an off-track betting branch office is under\nconsideration by the corporation for lease or acquisition. A copy of\nsuch written notice shall be published in the state register for six\nconsecutive business days and in a newspaper of general circulation in\nthe city for two consecutive business days. All meetings of the board\nshall be within seven consecutive business days of the date on which\nnotice of said meeting is first printed in the state register for six\nconsecutive business days and in a newspaper of general circulation in\nthe city for two consecutive business days.\n  c. The site selection board shall have power and authority to adopt\nand amend rules and regulations for the conduct of its business and to\ncarry out its powers and duties; provided, however, that the board shall\nadopt rules which require board action on a proposed site within thirty\ndays of the board's public hearing provided for herein and that by its\nfailure to act within thirty days the board shall be deemed to have\napproved the site.\n