New York Laws
Title 28-AA - Chautauqua, Cattaraugus, Allegany and Steuben Southern Tier Extension Railroad Authority
2642-I - Advances on Behalf of Authority; Transfer of Property to Authority; Acquisition of Property for Authority.

§ 2642-i. Advances on behalf of authority; transfer of property to
authority; acquisition of property for authority. 1. In addition to any
powers granted to it by law, any participating county may by resolution
advance sums of money to or on behalf of the authority to defray costs
or expenses of the authority to be incurred prior to the first issuance
of bonds. Subject to the rights of any bondholders, the moneys so
appropriated may be repaid by the authority to the participating county
at such time and in such manner as may be agreed upon between the
authority and the participating county.

2. Any participating county or any municipality along the southern
tier extension railroad line may by resolution give, grant, sell,
convey, lend, or 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. Any such transfer of property shall be
upon such terms and conditions, subject to the rights of any
bondholders, as the authority and the participating county or the
municipality may agree.

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