NY Town L § 64-A (2021)
2021 New York Laws TWN - Town Article 4 - Town Boards 64-A - Payment in Lieu of Taxes for Property Acquired for Park or Recreational Purposes.

* § 64-a.  Payment  in lieu of taxes for property acquired for park or   recreational purposes. The town of  Hempstead  having  acquired  certain   property  for  park  or  recreational  purposes  in the Lido Beach-Point   Lookout area shall have the power and authority  with  respect  to  such   property,  to  pay  or  transfer  out of any town funds available to it,   annual sums in lieu of taxes to the  affected  taxing  jurisdiction,  in   order  that none of such taxing jurisdiction shall suffer an inequitable   loss of revenue by virtue of such park or recreational program; provided   further, that the amount so paid or transferred for any year  shall  not   exceed  the  sum last levied for the benefit of such taxing jurisdiction   as an annual tax on such property prior to the time of  its  acquisition   for such purpose or purposes.As  used  in  this  section,  the term "taxing jurisdiction" means any   municipal corporation or  district  corporation,  including  any  school   district  or  any special district, having the power to levy and collect   taxes and benefit assessments upon real property in the Lido Beach-Point   Lookout area or in whose behalf such taxes or benefit assessments may be   levied or collected.* NB Section operative only to and including June 30, 2025* § 64-a. Powers  of  town  with  respect  to  municipal  deposits  in   national  banks  in  liquidation.  Whenever  the  depositors  and  other   unsecured creditors of a national bank, representing at least sixty  per   centum  in amount of its total net unsecured liabilities as shown by the   books of the bank, acting pursuant to section two hundred seven  of  the   bank  conservation  act,  have waived and released to the bank a certain   percentage of their deposits and/or other claims, the town  board  of  a   town  having municipal funds deposited in such bank, upon determining by   majority vote that it  is  for  the  best  interest  of  the  town,  may   authorize  the  supervisor  of  such  town  to  execute  a waiver and/or   release, similar in form to those executed by such other depositors,  by   which  it shall waive and/or release unto such bank a like percentage in   amount of its net unsecured claim against the bank as  shall  have  been   theretofore  waived  and/or  released  by  the  other  depositors and/or   creditors representing at least sixty per centum in amount of its  total   net   unsecured  liabilities,  as  aforesaid.  The  certificate  of  the   conservator or other public official in  charge  of  such  bank  to  the   effect  that waivers and/or releases have been so executed to the amount   of sixty per centum of the total net unsecured liabilities of such bank,   shall constitute the necessary condition precedent to such action by the   town board of the town. Neither the supervisor nor any member of a  town   board shall be liable to the town for any authorization given or release   or waiver executed pursuant to the provisions of this section.* NB Effective June 30, 2025