NY Pub Auth L § 1596-F (2021)
2021 New York Laws PBA - Public Authorities Article 7 - Parking Authorities Title 11 - City of Yonkers Parking Authority 1596-F - Conveyance of Property by the City to the Authority; Acquisition of Property by the City or by the Authority.

§  1596-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.  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. In the   case of personal property so conveyed,  the  title  shall  pass  to  the   authority.2.  The  city may acquire by 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 purchase or   condemnation in the manner provided by law for the acquisition  of  real   property  by the city. The city may close such streets, roads, parkways,   avenues, or highways as may be necessary or  convenient,  except  as  to   state highways and arterial highways 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 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. Any such contracts between the city 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  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. The authority may itself acquire real property for a project in the   name of the city 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 city. 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 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.