N.Y. Public Authorities Law Section 1031
Properties acquired by the authority

The board of supervisors, when appointing the authority, may adopt a resolution providing, or it may by later agreement with the authority provide, that all properties acquired by the authority shall be acquired in or transferred to the name of the county or taken and held by the authority as a governmental agency of the county. The board of supervisors may at such time or by a later resolution provide that the county shall raise all or any part of the money necessary for the purposes of this title and may provide a fund from which appropriations may be made by the board of supervisors for the acquisition, construction and equipment of such properties, and to pay all costs, charges, expenses and liabilities incurred or to be incurred by the authority, or which the county may properly advance to the authority for the purposes of this title. The county shall be reimbursed out of the revenues of the authority for any moneys so paid. In making advances to the authority the board of supervisors may require a resolution of the authority and agreements by it pledging the revenues of the authority to the county and giving to the county a prior charge upon such revenues substantially as provided under section one thousand thirty-five, and limiting the power of the authority including the power to issue any obligations of its own under this title. Whenever the authority shall be and continue in default for a period exceeding thirty days in meeting any obligation it may have assumed to the county, the board shall also have power by resolution to remove any one or more or all of the members and to fill the vacancies caused thereby. * NB Terminated July 1, 1963

Source: Section 1031 — Properties acquired by the authority, https://www.­nysenate.­gov/legislation/laws/PBA/1031 (updated Sep. 22, 2014; accessed May 18, 2024).

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Accessed:
May 18, 2024

Last modified:
Sep. 22, 2014

§ 1031’s source at nysenate​.gov

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