§ 503-a. Cooperation with agencies. For the purpose of aiding an
agency established pursuant to the provisions of article fifteen-A of
this chapter a municipality may:

1. Delegate to such agency such of its powers enumerated under section
five hundred three of this article as it may deem appropriate, necessary
or desirable to effectuate the purposes and provisions of this article
and as are not inconsistent with the powers reserved to the governing
body or the commission under this article or the powers granted to such
agencies in article fifteen-A of this chapter.

2. Enter into agreements with such agency respecting action to be
taken by the municipality to assist such agency in carrying out and
effectuating the purposes and provisions of this article and of article
fifteen-A of this chapter. Such agreements may extend over any period of
time necessary to carry out and effectuate such purposes and provisions,
notwithstanding any provision or rule of law to the contrary.

3. Appropriate and expend money and guarantee the principal of and
interest on, or only the interest on, indebtedness contracted by such
agency for the purpose of aiding such agency in the carrying out and
effectuating of any urban renewal program within such municipality. Any
obligations issued for such object or purpose shall be authorized and
issued in the manner provided and subject to the provisions of the local
finance law. Such obligations or guarantees shall be deemed to be issued
or made for the purpose of effectuating an urban renewal program and the
period of probable usefulness of said object or purpose shall be as set
forth in subdivision forty-one-a of section 11.00 of the local finance
law.

Any guarantee by a municipality of indebtedness contracted by such
agency shall be authorized by a resolution of the finance board of the
municipality (as defined in the local finance law), which resolution
shall be adopted by at least a two-thirds vote of the total voting
strength of the finance board and shall prescribe the manner in which
such guarantee shall be evidenced. If the authorization of the issuance
of obligations for such object or purpose by the municipality is
required by law to be subject to a permissive or mandatory referendum,
then the authorization of the guarantee of indebtedness contracted by
such agency for such object or purpose shall also be subject to such a
referendum. Such referendum shall be governed by the provisions of the
local finance law applicable to such permissive or mandatory referendum
in such municipality.

4. For the purpose of aiding such agency in carrying out and
effectuating the purposes and provisions of this article and of article
fifteen-A of this chapter, with or without consideration as it may
determine, (a) dedicate, sell, convey, lease, grant or otherwise
transfer any of its right, title and interest in any property, real or
personal, to such agency, or grant easements, licenses or privileges
therein to such agency; (b) make advances, loans, grants, subsidies,
contributions and any other form of financial assistance to such agency;
(c) incur the entire expense of any public improvements or facilities
necessary or desirable under the urban renewal plan; (d) dedicate,
close, vacate, pave, install, grade and plan, streets, roads, sidewalks
or other public ways and places; (e) plan, replan, zone or rezone any
area of the municipality or make variances to building codes or
regulations; and (f) cause administrative, police, sanitation, fire
protection or other municipal services to be furnished to the agency.

5. Do all other things necessary or convenient to carry out the above
powers and to insure the expeditious undertaking and completion of an
urban renewal program, or part thereof, by such agency.