* § 1621-f. Conveyance of property by the city to the authority;
acquisition of property by the city or by the authority. 1. The city
may, by resolution or resolutions of the common council or by
instruments authorized by such resolutions, convey, with or without
consideration, to the authority real and personal property owned by the
city for use by the authority as a project or projects or a part thereof
or in connection therewith and pledge and pay to the authority, as
security for its bonds, notes or other liabilities, certain revenues and
income of the city from parking facilities owned or operated by the
city. In case of real property so conveyed, the title thereto shall
remain in the city but the authority shall have the use and occupancy
thereof for so long as its corporate existence shall continue, unless
otherwise provided for by the authority and the city. In the case of
personal property so conveyed, the title shall pass to the authority.

2. The city may acquire by gift, purchase or condemnation real
property in the name of the city for any of the projects or for the
widening of existing roads, streets, parkways, avenues or highways or
for new roads, streets, parkways, avenues or highways to any of the
projects, or partly for such purposes and partly for other city
purposes, by gift, purchase or condemnation in the manner provided by
law for the acquisition of real property by the city. For like purposes,
the city may close such streets, roads, parkways, avenues, or highways
as may be necessary or convenient, except as to state highways and
arterial ways which may not be closed without the consent of the state
commissioner of transportation.

3. Contracts may be entered into between the city and the authority
providing for the property to be conveyed or pledged or paid by the city
to the authority, the additional property to be acquired by the city and
so conveyed, the streets, roads, parkways, avenues, and highways to be
closed by the city and the amounts, terms and conditions of payment to
be made by the authority. Such contracts may also contain covenants by
the city as to the road, street, parkway, avenue and highway
improvements to be made by the city and as to such matters which pertain
to any conveyance or pledge and payment of moneys or property to the
authority. Any such contracts between the city and the authority may be
pledged by the authority to secure its bonds and notes and may not be
modified thereafter except as provided by the terms of such contract and
such pledge. The common council may authorize such contracts between the
city and the authority and no other authorization on the part of the
city for such contracts shall be necessary. Any such contracts may be so
authorized and entered into by the city and in such manner as the common
council may determine, and the payments required to be made by the city
may be made and financed notwithstanding that no provision therefor
shall have first been made in the capital budget of the city. All
contractual or other obligations of the city incurred in carrying out
the provisions of this title shall be included in and provided for by
each capital budget of the city thereafter made, if and to the extent
that they may appropriately be included therein.

4. Subject to subdivision four of section sixteen hundred twenty-one-d
of this title, the authority may itself, subject to prior approval of
the common council, acquire, in the name of the city, real property
necessary or convenient in connection with any project at the cost and
expense of the authority by purchase or condemnation pursuant to the
eminent domain procedure law. The authority shall have the use and
occupancy of such real property so long as its corporate existence shall
continue.

5. In case the authority shall have the use and occupancy of any real
property which it shall determine is no longer required for a project,
then, if such real property was acquired at the cost and expense of the
city, the authority shall have power to surrender its use and occupancy
thereof to the city, or, if such real property was acquired at the cost
and expense of the authority, then the authority shall have power to
sell, lease or otherwise dispose of said real property at public sale,
and shall retain and have the power to use the proceeds of sale, rentals
or other moneys derived from the disposition thereof for its purposes.

* NB Repealed per § 1621-r (see chapter 597 of 2023 § 2 for specifics)