NY Pub Auth L § 1621-F (2021)
2021 New York Laws PBA - Public Authorities Article 7 - Parking Authorities Title 21 - Middletown Parking Authority 1621-F - Conveyance of Property by the City to the Authority; Acquisition of Property by the City or by the Authority.

§  1621-f.  Conveyance  of  property  by  the  city  to the authority;   acquisition of property by the city or by the  authority.  1.  The  city   may,   by  resolution  or  resolutions  of  the  common  council  or  by   instruments authorized by such  resolutions,  convey,  with  or  without   consideration,  to the authority real and personal property owned by the   city for use by the authority as a project or projects or a part thereof   or in connection therewith and pledge  and  pay  to  the  authority,  as   security for its bonds, notes or other liabilities, certain revenues and   income  of  the  city  from  parking facilities owned or operated by the   city. In case of real property so  conveyed,  the  title  thereto  shall   remain  in  the  city but the authority shall have the use and occupancy   thereof for so long as its corporate existence  shall  continue,  unless   otherwise  provided  for  by the authority and the city.  In the case of   personal property so conveyed, the title shall pass to the authority.2. The city  may  acquire  by  gift,  purchase  or  condemnation  real   property  in  the  name  of  the city for any of the projects or for the   widening of existing roads, streets, parkways, avenues  or  highways  or   for  new  roads,  streets,  parkways,  avenues or highways to any of the   projects, or  partly  for  such  purposes  and  partly  for  other  city   purposes,  by  gift,  purchase or condemnation in the manner provided by   law for the acquisition of real property by the city. For like purposes,   the city may close such streets, roads, parkways, avenues,  or  highways   as  may  be  necessary  or  convenient,  except as to state highways and   arterial ways which may not be closed without the consent of  the  state   commissioner of transportation.3.  Contracts  may  be entered into between the city and the authority   providing for the property to be conveyed or pledged or paid by the city   to the authority, the additional property to be acquired by the city and   so conveyed, the streets, roads, parkways, avenues, and highways  to  be   closed  by  the city and the amounts, terms and conditions of payment to   be made by the authority. Such contracts may also contain  covenants  by   the   city   as  to  the  road,  street,  parkway,  avenue  and  highway   improvements to be made by the city and as to such matters which pertain   to any conveyance or pledge and payment of moneys  or  property  to  the   authority.  Any such contracts between the city and the authority may be   pledged by the authority to secure its bonds and notes and  may  not  be   modified thereafter except as provided by the terms of such contract and   such pledge. The common council may authorize such contracts between the   city  and  the  authority  and no other authorization on the part of the   city for such contracts shall be necessary. Any such contracts may be so   authorized and entered into by the city and in such manner as the common   council may determine, and the payments required to be made by the  city   may  be  made  and  financed  notwithstanding that no provision therefor   shall have first been made in  the  capital  budget  of  the  city.  All   contractual  or  other  obligations of the city incurred in carrying out   the provisions of this title shall be included in and  provided  for  by   each  capital  budget  of the city thereafter made, if and to the extent   that they may appropriately be included therein.4. Subject to subdivision four of section  one  thousand  six  hundred   twenty-one-d  of  this title, the authority may itself, subject to prior   approval of the common council, acquire, in the name of the  city,  real   property  necessary  or convenient in connection with any project at the   cost and expense of the authority by purchase or  condemnation  pursuant   to  the  eminent  domain procedure law. The authority shall have the use   and occupancy of such real property so long as its  corporate  existence   shall continue.5.  In case the authority shall have the use and occupancy of any real   property which it shall determine is no longer required for  a  project,    then,  if such real property was acquired at the cost and expense of the   city, the authority shall have power to surrender its use and  occupancy   thereof  to the city, or, if such real property was acquired at the cost   and  expense  of  the  authority, then the authority shall have power to   sell, lease or otherwise dispose of said real property at  public  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 purposes.