N.Y. Public Authorities Law 1621-B – Definitions
* § 1621-b. Definitions. As used or referred to in this title, unless a different meaning clearly appears from the context:
Terms Used In N.Y. Public Authorities Law 1621-B
- 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.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Personal property: All property that is not real property.
1. The term "authority" shall mean the corporation created by section sixteen hundred twenty-one-c of this title;
2. The term "city" shall mean the city of Middletown;
3. The term "bonds" and "notes" shall mean the bonds and notes, respectively, authorized in this title;
4. The term "board" shall mean the board established pursuant to section sixteen hundred twenty-one-c of this title;
5. The term "real property" shall mean lands, structures, franchises, and interest in lands, and any and all things usually included within the said term, and includes not only fees simple absolute but also any and all lesser interests, such as easements, rights of way, and rights, sub-surface rights, uses, leases, licenses, and all other incorporeal hereditaments and every estate, interest or right, legal or equitable, including terms of years, and liens thereon by way of judgments, mortgages or otherwise, and also claims for damage to real estate, in the area of the city; and
6. The term "project" or "projects" shall mean any area or place operated or to be operated by the authority for the parking or storing of motor and other vehicles and shall, without limiting the foregoing, include all real and personal property, driveways, roads, approaches, structures, terminals of all kinds, garages, meters, mechanical equipment, and all appurtenances and facilities either on, above or under the ground which are used or usable in connection with such parking or storing of such vehicles in the area of the city.
* NB Repealed per § 1621-r (see chapter 597 of 2023 § 2 for specifics)