§ 173-b. Every city, town and village of this state, in addition to such powers as it may have relating to the granting of rights, privileges, franchises, powers or consents to use the streets, roads, highways, avenues, parks or public places for the construction and operation of street surface railroads within its corporate limits, shall have power, subject to the provisions of sections one hundred and seventy-three-a to one hundred and seventy-three-h, both inclusive, of this article, to grant to a duly incorporated railroad corporation of this state, organized to construct, maintain and operate a street surface railroad, a terminable permit to occupy or use any of the streets, roads, highways, avenues, parks or public places of such city, town or village for the construction and operation of a street surface railroad, and to agree upon and contract for the terms and conditions thereof; provided that no street surface railroad or extensions or branches thereof shall be built, extended or operated unless the conditions set forth in section one hundred and seventy-one of this article have been complied with.

Terms Used In N.Y. Railroad Law 173-B

  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • terminable permit: as used in this article shall mean and embrace every grant from a city, town or village of power, right or privilege to occupy or use any of the streets, roads, highways, avenues, parks or public places of such city, town or village for the construction and operation of a street surface railroad, until such time as the city, town or village shall exercise its right to purchase the property, plant and equipment of such street surface railroad in accordance with the provisions of sections one hundred and seventy-three-a to one hundred and seventy-three-h, both inclusive, of this article, or until it shall be otherwise terminated according to law. See N.Y. Railroad Law 173-A
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