NY Pub Auth L § 553-A (2021)
2021 New York Laws PBA - Public Authorities Article 3 - Bridge and Tunnel Authorities Title 3 - Triborough Bridge Authority 553-A - Additional Powers in Relation to Brooklyn Richmond Project.

§  553-a.  Additional powers in relation to Brooklyn Richmond project. 1.  If and when the Port of New York authority (herein called the  "port authority") is authorized to make agreements with the authority relating to  the  construction,  ownership,  maintenance  and  operation  of  the Brooklyn Richmond project as a  bridge  (herein  sometimes  collectively referred  to  as  the  "Narrows  bridge  project")  and to acquire land, easements and rights in  land  necessary  or  convenient  therefor,  the authority  shall  have  power,  in  its discretion and subject to and in accordance with all contract provisions with respect to  any  bonds  and the rights of the holders of bonds to make such agreements with the port authority  on  such  terms  and  conditions  and  with such payments and considerations as the authority and the port authority shall deem in the public interest, as to any one or more of the following:  (a) the acquisition of such land, easements and rights  in  land  for, and  the  design,  construction  and  financing  of,  the Narrows bridge project by the port authority, including the  payment  therefor  by  the authority  and the transfer of title thereto and the right of possession and use thereof, provided, however, that  the  agreement  shall  contain provisions  as to the land, easements and rights in land to be acquired, and that such provisions of such  agreement  shall  be  subject  to  the approval  of  the  mayor  of  the  city,  and provided further that such agreement shall provide that no other land, easements or rights in  land will be acquired for Narrows bridge purposes by the port authority.  (b)  the  construction,  with  the  consent of the city, either by the authority or the port authority, of new parks,  parkways,  highways,  or improvements  to existing parks, parkways or highways, either connecting directly or indirectly with the Narrows bridge project, for the  purpose of  attracting  or  facilitating  traffic or improving approaches to and connections with such project, and the acquisition  of  land,  easements and rights in land therefor,  (c)  leasing  the  Narrows bridge project, in whole or in part, by the authority from the port authority and the payment by  the  authority  of rents  or  other  payments therefor, and for the operation, maintenance, construction and reconstruction thereof by the authority pursuant to and to the extent provided by the terms of such agreement for leasing,  (d) charging and fixing tolls, fees and rentals for the  use  of  such project,  sufficient  to provide for the payment by the authority of the costs of construction, maintenance and operation thereof and  all  rents and other payments under any such agreement for leasing, for the payment of the principal of and interest on any bonds or other obligations to be issued  by  the  authority to pay the cost of such project and all other payments to be made by the  authority  including  reserves  and  sinking funds  therefor,  in  accordance  with any such agreement for leasing or other agreement made between the port authority  and  the  authority  in connection with such project,  (e)  securing  the  payment of rents and other payments under any such agreement  for  leasing,  or  other  agreement  made  between  the  port authority and the authority in connection with such project, by pledging such tolls, fees, rentals and revenues of such project and providing for the  use  and disposition of such tolls, fees, rentals and revenues, and for the setting aside of reserves or sinking funds  and  the  regulation and  disposition  thereof,  and,  subject  to and in accordance with all contract provisions with respect to any  bonds,  by  pledging  for  such security  tolls,  fees,  rentals  and  revenues  of  any  or  all of the projects,  (f) limiting the construction by the authority of vehicular  crossings between Brooklyn and Richmond,  (g)  acquiring  from  the port authority all or any part of the right, title and interest of the port authority in such project and the  lands, easements  and  rights  in  land  acquired  for such project by the port authority,  (h) defining events of default under such agreement, fixing periods of grace  and  providing  rights  and  remedies  of  the parties in case of default thereunder including the right to terminate and  fix  the  terms and conditions for the termination of the same, and  (i)  any  other  matters  of  like  or  different  character  for  the protection of the interest of the port authority or the authority or the respective holders of bonds thereof or the public with  respect  to  the acquisition,  construction,  reconstruction,  improvement,  operation or maintenance of the Narrows bridge project.   2. The authority shall have power to do any acts or  things,  transfer such  rights  or  interests  and  execute and deliver such papers as the authority may deem necessary or  desirable  to  carry  out  any  of  the foregoing.   3.  The  authority, so long as its corporate existence shall continue, shall  have  power  to  operate,  maintain,   construct,   improve   and reconstruct the Narrows bridge project and to exercise all of the powers herein  granted  to  the  authority  with  respect to the Narrows bridge project in connection with any agreements between the port authority and the authority or otherwise, and subject to  any  such  agreements  shall have  the  use  and  occupancy of any lands, easements or rights in land acquired in the name of the city for such project. The powers  conferred in  this  section  shall be in addition to and shall not limit the other powers conferred in this title.