N.Y. Public Authorities Law 2055 – Acquisition of land for the project
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* § 2055. Acquisition of land for the project. The authority may acquire lands for the project. It shall have the power to sell, lease or otherwise dispose of said real property and shall retain and have the power to use the proceeds of sale, rentals or other moneys derived from the disposition thereof for its purposes.
Terms Used In N.Y. Public Authorities Law 2055
- 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
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Notwithstanding any law to the contrary, the county may, by legal instrument authorized by a resolution, lease real property, owned by the county, to the authority, with or without consideration, for so long as the authority's existence shall continue.
* NB Authority dissolved September 1, 1977