§ 1475-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 1475-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 fourteen hundred seventy-five-c of this title;

2. The term "city" shall mean the city of Syracuse;

3. The term "bonds" shall mean the bonds, notes or other evidences of indebtedness issued by the authority pursuant to this title relating to bonds and bondholders and shall apply with equal force and effect to notes and noteholders, respectively, unless the context otherwise clearly requires;

4. The term "board" shall mean the members of the authority;

5. The term "employee" or "employees" shall include employees of a contractor described in section fourteen hundred seventy-five-e of this title;

6. The term "real property" shall mean lands, structures, franchises, and interest in lands, and any and all things usually included within such term, and includes 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, in the area of the city;

7. The term "project" 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 useable in connection with such parking or storing of such vehicles, in the area of the city; and

8. The term "projects" shall mean more than one project.

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