NY Pub Auth L § 1555-2 (2021)
2021 New York Laws PBA - Public Authorities Article 7 - Parking Authorities Title 7* - Endicott Parking Authority 1555*2 - Conveyance of Property by the Village to the Authority; Acquisition of Property by the Village or by the Authority.

* §  1555.  Conveyance  of  property  by the village to the authority;   acquisition of property by the village  or  by  the  authority.  1.  The   village  may,  by  resolution  or  resolutions  of  the village board of   trustees or by instruments authorized by such resolutions, convey,  with   or  without  consideration,  to the authority real and personal property   owned by the village for use by the authority as a project  or  projects   or  a  part  thereof.  In  case  of real property so conveyed, the title   thereto shall remain in the village but the authority shall have the use   and occupancy thereof for so  long  as  its  corporate  existence  shall   continue.  In the case of personal property so conveyed, the title shall   pass to the authority.2. The village may acquire in the name of the village by  purchase  or   condemnation real property in the village for any of the projects or for   the  widening of existing roads, streets, avenues or highways or for new   roads, streets, avenues or highways, within a radius of one mile to  any   of  the  projects,  or  partly  for  such  purposes and partly for other   village purposes, by purchase or condemnation in the manner provided  by   law  for  the  acquisition  of  real  property  by the village. For like   purposes, the  village  may  close  such  streets,  roads,  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 village and the authority   providing  for  the  property  to  be  conveyed  by  the  village to the   authority, the additional property to be acquired by the village and  so   conveyed,  the streets, roads, avenues, and highways to be closed by the   village and the amounts, terms and conditions of payment to be  made  by   the  authority. Such contracts may also contain covenants by the village   as to the road, street, avenue and highway improvements to  be  made  by   the  village.  Any  such contracts between the village and the authority   may be pledged by the authority to secure  its  bonds  and  may  not  be   modified  thereafter  except as provided by the terms of the pledge. The   village board of trustees  may  authorize  such  contracts  between  the   village  and the authority and no other authorization on the part of the   village for such contracts shall be necessary. Any such contracts may be   so authorized and entered into by the village and in such manner as  the   village board of trustees may determine, and the payments required to be   made  by  the  village  may be made and financed notwithstanding that no   provision therefor shall have first been made in the capital  budget  of   the  village.  All  contractual  or  other  obligations  of  the village   incurred in carrying out the provisions of this title shall be  included   in  and  provided  for  by each capital budget of the village thereafter   made, if and to the extent  that  they  may  appropriately  be  included   therein.4. The authority may itself acquire real property for a project in the   name of the village at the cost and expense of the authority by purchase   or condemnation pursuant to the condemnation law or pursuant to the laws   relating to the condemnation of land by the village. 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   village,  the  authority  shall  have  power  to  surrender  its use and   occupancy thereof to the village, 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 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 purposes.* NB Dissolved December 31, 1977* NB There are 2 § 1555's