N.Y. Public Authorities Law 1856 – Acquisition of real property
§ 1856. Acquisition of real property. 1. Upon determination by the authority that any real property is necessary for its corporate purposes, the commissioner shall, if so requested by the authority, acquire the same in the name of the state by dedication, by agreement, by condemnation pursuant to the condemnation law, or by appropriation in the manner provided by § 30 of the highway law, and payment therefor shall be made by the authority from the proceeds of sale of its bonds, notes or other obligations, or from other available moneys therefor. The authority shall hold such property in the name of the state and shall have the right to possess and use for its corporate purposes, so long as its corporate existence shall continue, all such real property and rights in real property so acquired.
Terms Used In N.Y. Public Authorities Law 1856
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
2. At any time after this title shall become effective, the authority may, by resolution, assume jurisdiction over and hold in the name of the state all or any part of the real property acquired and held in the name of the state by the state office of atomic development. Upon the effective date of such resolution, the authority shall hold any such real property in the name of the state and shall have the right to possess and use for its corporate purposes, so long as its corporate existence shall continue, any such real property.