NY Gen Mun L § 99-O (2021)
2021 New York Laws GMU - General Municipal Article 5 - Powers, Limitations and Liabilities 99-O - Transfer and Lease of Mass Commuting Vehicles by the County of Suffolk.

§ 99-o. Transfer and lease of mass commuting vehicles by the county of   Suffolk.  1.  As  used  in this section the term "county" shall mean the   county of Suffolk. The term "mass  commuting  vehicle"  means  any  bus,   subway  car,  rail  car,  locomotive, or similar equipment used or to be   used to provide mass commuting services, whether or not  operated  by  a   private operator under agreement with the county.2.  Any  other  law,  general,  special  or local notwithstanding, the   county, acting through its chief executive officer or its  chief  fiscal   officer  without  further  approval, except, in case the legislature has   declared that a state of financial emergency exists in the  county,  the   approval  of  any  emergency  financial  control  board  or similar body   established by state law for such county, may (a) sell or  transfer  any   interest  in  any  or  all of its mass commuting vehicles, except to the   extent of any portion of any mass commuting vehicles financed by federal   grants, for consideration and on such terms and  conditions  as  it  may   deem  appropriate,  and obtain a lease from the transferee on such terms   and conditions and for such period as it may deem  appropriate  pursuant   to  which it may operate such mass commuting vehicles, provided (i) such   lease contains an option to the county to repurchase  such  interest  at   the expiration of the scheduled lease term for nominal consideration and   (ii)  the aggregate of the regularly scheduled rental payments which the   county is obligated to make pursuant to such lease  during  each  twelve   month  period  of  the  lease term shall not exceed the aggregate amount   receivable, whether in the form of principal or interest, by the  county   from  its transferee during each twelve month period. Without limitation   of the foregoing, any  lease  entered  into  pursuant  hereto  may  also   contain provisions requiring the county to indemnify the transferee for,   among  other  things, any loss resulting from the loss or destruction of   any property which is the subject of such lease and requiring the county   to undertake to replace, repair or restore any such property,  but  such   obligations  shall not be deemed regularly scheduled rental payments for   purposes of the preceding sentence and (b) provide compensation  to  one   or  more  third parties for services rendered by them in connection with   any such transaction.3. Proceeds from any transaction described in this section may be used   by the county only for the operation, maintenance or acquisition of mass   commuting vehicles or expended on the making of any capital improvements   to be used in connection with mass commuting vehicles, but may  be  held   and  invested  alone or with and in the same manner as other revenues of   the county pursuant to law before application to such purposes.4. The lessor of such property, during the term of any  lease  thereof   to  the  county,  shall, if the lessor shall have assigned to the county   all manufacturers' and other warranties, if any furnished to the  lessor   in  connection  with  its  purchase  of such property, and except as the   lease may otherwise provide, have no liability or responsibility to  the   county  or  to third parties for damages to real or personal property or   for the destruction thereof, or for personal injuries  or  death,  based   upon the use, condition or state of such property, or any part thereof.