§ 20-d. Alternative procedure for acquisition of certain real
property, personal property and franchises of omnibus lines within
cities having a population of one million or more inhabitants.
Notwithstanding any other provision of law, general, special or local,
cities with a population of one million or more inhabitants shall have
the additional power to acquire by acquisition any property and the
franchises of any person, firm or corporation situated within such city,
used and usable in the operation of omnibus lines which are entirely
within and do not extend beyond the boundaries of such city, the
immediate acquisition of which property and franchises is determined by
the board of estimate or other appropriate governing body of such city
to be necessary to serve the public convenience through the provision of
adequate omnibus transportation, notwithstanding the fact that such
property and franchises were or are devoted to a public use. The term
"property" as used in this subdivision is defined to include lands,
waters, rights in lands or waters, structures, franchises and interests
in land, including lands under water and riparian rights, and any and
all other things and rights usually included within the said term and
includes also any and all interests in such property less than full
title, such as easements permanent or temporary, rights-of-way, uses,
leases, licenses and all other incorporeal hereditaments and every
estate, interest or right legal or equitable, and omnibuses, rolling
stock and any other form of real or personal property. Acquisition of
such property shall be in accordance with the provisions of the eminent
domain procedure law.

Notwithstanding the provisions of any general, special or local law to
the contrary, such city may authorize, issue and sell obligations,
pursuant to the local finance law, to pay for the cost of any
acquisition or acquisitions of such property used and usable in the
operation of omnibus lines provided, however, that no such obligations
shall be authorized, issued, sold or refunded after September thirtieth,
nineteen hundred sixty-three. The maximum period of probable usefulness
for each such object or purpose for which obligations may be issued
hereunder is hereby determined to be as follows:

a. The acquisition of real property, thirty years.

b. The acquisition of omnibuses and other necessary personal property,
five years.

c. The acquisition of franchises, five years.

The provisions of this section constitute an alternative procedure to
the procedure set forth in subdivision two of section twenty of this
chapter and any city having a population of one million or more
inhabitants may proceed under the authority of this section or of such
subdivision two of section twenty.