NY Real Prop Tax L § 1192 (2021)
2021 New York Laws RPT - Real Property Tax Article 11 - Procedures for Enforcement of Collection of Delinquent Taxes Title 5 - Sales of Delinquent Tax Liens 1192 - Additional Powers of Tax Districts in Connection With the Sale of Delinquent Tax Liens.

§ 1192. Additional powers of tax districts in connection with the sale   of  delinquent  tax liens. 1. Notwithstanding any general or special law   to the contrary, a contract for  the  sale  of  tax  liens  from  a  tax   district  to the bond bank or its tax lien entity shall, consistent with   the provisions  of  title  eighteen  of  article  eight  of  the  public   authorities  law,  contain  such terms, provisions and conditions as, in   the judgment of the tax district shall be necessary or  desirable.  Each   such  contract  shall  specify  the amount to be made available to a tax   district from the proceeds  of  an  issue  of  tax  lien  collateralized   securities, which amount may be more or less than the face amount of the   tax  liens  sold  to the bond bank or its tax lien entity, and any other   amounts which may be made available to the tax district on a  contingent   basis  under  the  terms of the contract. In addition, each contract may   require such tax district, subject to appropriation by  the  appropriate   legislative  body  of  such  tax  district,  to  make provisions for the   payment of such other fees, charges, costs and other amounts as the  tax   district shall in its judgment determine to be necessary or desirable.2.  Any  contract  entered  into  pursuant  to subdivision one of this   section shall provide that the obligation of the tax district  executing   such  contract to fund or pay the amounts therein provided for shall not   constitute a debt of  such  tax  district  within  the  meaning  of  any   constitutional or statutory provision and shall be deemed executory only   to  the  extent  of  moneys  available  and  that  no liability shall be   incurred by such tax district  beyond  the  moneys  available  for  such   purpose, and that any such payment obligation of such tax district other   than the timely payment of any moneys collected and due to the bond bank   or  its tax lien entity as a result of the redemption of tax liens which   are the subject of such contract, is subject  to  appropriation  by  the   appropriate legislative body of such tax district.3.  A  tax district may sell, and contract to sell, tax liens, and all   or part of any other amounts which may be  made  available  to  the  tax   district  on a contingent basis under the terms of the purchase and sale   agreement, to the bond bank or its tax lien  entity  at  such  price  or   prices,  upon  such  terms and conditions and in such manner, as the tax   district shall deem advisable. A tax district may also sell, or contract   to sell, real property acquired by the tax district pursuant to any  tax   enforcement  proceeding and not yet disposed of by such tax district, to   the bond bank or its tax lien entity in  connection  with  the  sale  or   proposed sale of tax liens to the bond bank or its tax lien entity.4.  As  a  condition  of sale of tax liens to the bond bank or its tax   lien entity, each tax district shall  agree  (a)  to  promptly  pay,  as   directed  by  the bond bank, any moneys collected by the tax district in   connection with the redemption and cancellation of such tax  liens,  (b)   to  pay, subject to appropriation by the appropriate legislative body of   such tax district, any amounts due and owing to the bond bank or its tax   lien entity as a result of the sale of such tax liens, (c) to make  such   covenants, representations, and warranties with respect to the tax liens   sold as required to effectuate the sale of such tax liens and facilitate   the  marketing  of tax lien collateralized securities issued by the bond   bank or its tax lien entity and (d) to accept a note or other instrument   issued by the  bond  bank  or  its  tax  lien  entity  to  evidence  any   contingent amounts payable under the terms of the contract.5.  In  connection  with the sale or proposed sale of tax liens to the   bond bank or its tax lien entity, a tax  district  may,  notwithstanding   the  provisions  of  any general or special law to the contrary, pay (a)   such fixed or annual charges as may be prescribed from time to  time  by   the  bond  bank  for or with respect to the purchase by the bond bank or   its tax lien entity of the tax liens of such tax district, and  (b)  all    charges  or expenses necessary for the conversion or reconversion of any   of its tax liens into such form as may be required by the bond  bank  in   connection with any sale or other disposition of such tax liens.6.  A  contract to sell tax liens pursuant to this section may require   the  tax  district  to  repurchase  a  delinquent  tax  lien  under  the   conditions  specified  therein.  If  a  delinquent  tax  lien  should be   repurchased by the  tax  district,  the  tax  district  may  resume  the   enforcement   of  the  delinquent  tax  lien  pursuant  to  the  locally   applicable procedures.