2023 New York Laws › PBA - Public Authorities › Article 3 - Bridge and Tunnel Authorities › Title 3 - Triborough Bridge Authority › 553-A - Additional Powers in Relation to Brooklyn Richmond Project.

§  553-a.  Additional powers in relation to Brooklyn Richmond project.
1.  If and when the Port of New York authority (herein called the  "port
authority") is authorized to make agreements with the authority relating
to  the  construction,  ownership,  maintenance  and  operation  of  the
Brooklyn Richmond project as a  bridge  (herein  sometimes  collectively
referred  to  as  the  "Narrows  bridge  project")  and to acquire land,
easements and rights in  land  necessary  or  convenient  therefor,  the
authority  shall  have  power,  in  its discretion and subject to and in
accordance with all contract provisions with respect to  any  bonds  and
the rights of the holders of bonds to make such agreements with the port
authority  on  such  terms  and  conditions  and  with such payments and
considerations as the authority and the port authority shall deem in the
public interest, as to any one or more of the following:
(a) the acquisition of such land, easements and rights  in  land  for,
and  the  design,  construction  and  financing  of,  the Narrows bridge
project by the port authority, including the  payment  therefor  by  the
authority  and the transfer of title thereto and the right of possession
and use thereof, provided, however, that  the  agreement  shall  contain
provisions  as to the land, easements and rights in land to be acquired,
and that such provisions of such  agreement  shall  be  subject  to  the
approval  of  the  mayor  of  the  city,  and provided further that such
agreement shall provide that no other land, easements or rights in  land
will be acquired for Narrows bridge purposes by the port authority.
(b)  the  construction,  with  the  consent of the city, either by the
authority or the port authority, of new parks,  parkways,  highways,  or
improvements  to existing parks, parkways or highways, either connecting
directly or indirectly with the Narrows bridge project, for the  purpose
of  attracting  or  facilitating  traffic or improving approaches to and
connections with such project, and the acquisition  of  land,  easements
and rights in land therefor,
(c)  leasing  the  Narrows bridge project, in whole or in part, by the
authority from the port authority and the payment by  the  authority  of
rents  or  other  payments therefor, and for the operation, maintenance,
construction and reconstruction thereof by the authority pursuant to and
to the extent provided by the terms of such agreement for leasing,
(d) charging and fixing tolls, fees and rentals for the  use  of  such
project,  sufficient  to provide for the payment by the authority of the
costs of construction, maintenance and operation thereof and  all  rents
and other payments under any such agreement for leasing, for the payment
of the principal of and interest on any bonds or other obligations to be
issued  by  the  authority to pay the cost of such project and all other
payments to be made by the  authority  including  reserves  and  sinking
funds  therefor,  in  accordance  with any such agreement for leasing or
other agreement made between the port authority  and  the  authority  in
connection with such project,
(e)  securing  the  payment of rents and other payments under any such
agreement  for  leasing,  or  other  agreement  made  between  the  port
authority and the authority in connection with such project, by pledging
such tolls, fees, rentals and revenues of such project and providing for
the  use  and disposition of such tolls, fees, rentals and revenues, and
for the setting aside of reserves or sinking funds  and  the  regulation
and  disposition  thereof,  and,  subject  to and in accordance with all
contract provisions with respect to any  bonds,  by  pledging  for  such
security  tolls,  fees,  rentals  and  revenues  of  any  or  all of the
projects,
(f) limiting the construction by the authority of vehicular  crossings
between Brooklyn and Richmond,
(g)  acquiring  from  the port authority all or any part of the right,
title and interest of the port authority in such project and the  lands,
easements  and  rights  in  land  acquired  for such project by the port
authority,
(h) defining events of default under such agreement, fixing periods of
grace  and  providing  rights  and  remedies  of  the parties in case of
default thereunder including the right to terminate and  fix  the  terms
and conditions for the termination of the same, and
(i)  any  other  matters  of  like  or  different  character  for  the
protection of the interest of the port authority or the authority or the
respective holders of bonds thereof or the public with  respect  to  the
acquisition,  construction,  reconstruction,  improvement,  operation or
maintenance of the Narrows bridge project.
2. The authority shall have power to do any acts or  things,  transfer
such  rights  or  interests  and  execute and deliver such papers as the
authority may deem necessary or  desirable  to  carry  out  any  of  the
foregoing.
3.  The  authority, so long as its corporate existence shall continue,
shall  have  power  to  operate,  maintain,   construct,   improve   and
reconstruct the Narrows bridge project and to exercise all of the powers
herein  granted  to  the  authority  with  respect to the Narrows bridge
project in connection with any agreements between the port authority and
the authority or otherwise, and subject to  any  such  agreements  shall
have  the  use  and  occupancy of any lands, easements or rights in land
acquired in the name of the city for such project. The powers  conferred
in  this  section  shall be in addition to and shall not limit the other
powers conferred in this title.