New York Laws
Title 10-D - Nassau County Sewer and Storm Water Finance Authority
1232-E - Advances on Behalf of the Authority; Transfer of Property to Authority.

§ 1232-e. Advances on behalf of the authority; transfer of property to
authority. 1. In addition to any powers granted to it by law, the county
from time to time may appropriate sums of money to or on behalf of the
authority to defray costs and expenses of the authority. Subject to the
rights of bondholders, the county may determine if the moneys so
appropriated shall be subject to repayment by the authority to the
county and, in such event, the manner and time or times for such
repayment.

2. The county or any other municipality may give, grant, sell, convey,
loan, license the use of or lease to the authority any property or
facility which is useful to the authority in order to carry out its
powers under this title; provided, however, that any such transfer of
property shall be upon such terms and conditions and subject to the
rights of the holders of any bonds, as the authority and the county or
other municipality may agree. Notwithstanding the provisions of any
state or local law to the contrary, the county shall transfer to the
authority any funds which were in the prior districts' accounts upon
dissolution thereof, as well as any prior district fund balance held by
the county on behalf of the prior districts, or grant recoveries
received in connection with assets acquired by the authority from the
county, which funds shall be used by the authority for the limited
purposes of supporting necessary capital investments, debt service, debt
service-related expenses and reserve requirements in a manner consistent
with the rate stabilization program established in section six of the
chapter of the laws of two thousand three which added this title.

3. Notwithstanding the foregoing, the county shall not have authority
to give, grant or sell to the authority any real property upon which
county owned facilities are located.

4. Notwithstanding the provisions of any other law, general, special
or local to the contrary, real property acquired by the authority or the
county from the state may be used for any corporate purpose of the
authority.