NY Pub Auth L § 1622-F (2021)
2021 New York Laws PBA - Public Authorities Article 7 - Parking Authorities Title 22 - Village of Nyack Parking Authority 1622-F - Conveyance of Property by the Village to the Authority; Acquisition of Property by the Village or by the Authority.

§  1622-f.  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 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  or in connection therewith and pledge and pay to the authority,   as security for its bonds, notes or other liabilities, certain  revenues   and  income  of the village from parking facilities owned or operated by   the village. 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,   unless otherwise provided for by the authority and the village.  In  the   case  of  personal  property  so  conveyed,  the title shall pass to the   authority.2. The village may acquire by  gift,  purchase  or  condemnation  real   property  in  the name of the village 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  village   purposes,  by  gift,  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, parkways, 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 or pledged  and  paid  by  the   village  to the authority, the additional property to be acquired by the   village and so conveyed, the  streets,  roads,  parkways,  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, parkway,   avenue and highway improvements to be made by the village and as to such   matters which pertain to any conveyance or pledge and payment of  moneys   or property to the authority. Any such contracts between the village and   the  authority  may  be pledged by the authority to secure its bonds and   notes and may not be modified thereafter except as provided by the terms   of such contract and such 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. Subject to subdivision four of section sixteen hundred twenty-two-d   hereof,  the  authority  may  itself,  subject  to prior approval of the   village board of trustees, acquire, in the name  of  the  village,  real   property  necessary  or convenient in connection with any project at the   cost and expense of the authority by purchase or  condemnation  pursuant   to  the eminent domain procedure 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.