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This entry was published on 2014-09-22
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SECTION 2041-C
Advances on behalf of authority; transfer of property to authority; acquisition of property by participating counties for authority
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 8, TITLE 13-AA
§ 2041-c. Advances on behalf of authority; transfer of property to
authority; acquisition of property by participating counties for
authority. 1. In addition to any powers granted to it by law, any
participating county may by resolution advance sums of money to or on
behalf of the authority to defray project costs or any other costs and
expenses of the authority to be incurred prior to the first issuance of
bonds. Subject to the rights of any bondholders, the moneys so
appropriated may be repaid by the authority to the participating county
at such time and in such manner as may be agreed upon between the
authority and the participating county.

2. Any participating county or any other municipality within the area
of operation may give, grant, sell, convey, loan or license the use of
or lease to the authority any property or facility which is useful to
the authority in order to carry out its powers under this title. Any
such transfer of property shall be upon such terms and conditions,
subject to the rights of any bondholders, as the authority and the
participating county or other municipality may agree.

3. Notwithstanding the provisions of any other law, general, special
or local, real property acquired by the authority or any participating
county from the state may be used for any corporate purpose of the
authority.