N.Y. Public Authorities Law 2490-B – Definitions
§ 2490-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 2490-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 twenty-four hundred ninety-c of this title;
2. The term "city" shall mean the city of Saratoga Springs, Saratoga county, New York;
3. The term "board" shall mean the members of the authority;
4. The term "mayor" shall mean the mayor of the city of Saratoga Springs;
5. The term "city council" shall mean the city council of the city of Saratoga Springs;
6. The term "bonds" shall mean the bonds and where applicable, the notes authorized in this title;
7. The term "real property" shall mean lands, including air and subsurface rights and lands under water, structures, franchises and interests in lands and any and all things usually included within the said terms, including not only fees simple absolute but also any and all lesser interests, such as easements, rights of way, 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;
8. The term "project" shall mean the Saratoga Springs city center to be constructed within the city for the purpose of providing convention or trade show facilities and shall include all real and personal property, driveways, roads, approaches, structures, parking lots, mechanical equipment and all appurtenances and facilities either on, above, or under the ground which are used or useable in connection with such city center.