§ 77-i. Sports field fence leases in the town of Yorktown, Westchester county. Notwithstanding any provision of any general, special or local law or of any charter to the contrary, the town of Yorktown, in the county of Westchester, may lease any and all sports field fences at Legacy Field and Granite Knolls Sports Complex annually, at a nominal rent, to a not-for-profit corporation or organization, organized under the laws of the state of New York for the purpose of permitting the sale of advertising, with the revenues to be used solely for the care of said parks and field in the town of Yorktown, Westchester county.

Terms Used In N.Y. General Municipal Law 77-I

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Legacy: A gift of property made by will.
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