§ 2435-b. Tax lien purchase and sale agreements. (1) In order to
fulfill the purposes of this title and to provide a means by which
municipalities may collect the moneys necessary to fund their
expenditures and provide revenue to fund any other lawful purpose and
notwithstanding any general or special law to the contrary, the agency
or its tax lien entity and any municipality are hereby authorized to
enter into one or more purchase and sale agreements for the sale of tax
liens by such municipality and the purchase of such tax liens by the
agency or its tax lien entity, which purchase and sale agreements shall,
consistent with the provisions of this title, contain such terms,
provisions and conditions as, in the judgment of the agency or its tax
lien entity, shall be necessary or desirable. Each purchase and sale
agreement shall specify the amount to be made available to the
respective municipality from the proceeds of an issue of tax lien
collateralized securities which amount may be more or less than the face
amount of the tax liens purchased by the agency or its tax lien entity,
and any other amounts which may be made available to the respective
municipality on a contingent basis under the terms of the agreement. In
addition, each purchase and sale agreement may require such
municipality, subject to appropriation by the appropriate legislative
body of such municipality, to make provisions for the payment of such
other fees, charges, costs and other amounts as the agency shall in its
judgment determine to be necessary or desirable.

(2) Any purchase and sale agreement entered into pursuant to
subdivision one of this section shall provide that the obligation of the
municipality executing such purchase and sale agreement to fund or pay
the amounts therein provided for shall not constitute a debt of such
municipality within the meaning of any constitutional or statutory
provision and shall be deemed executory only to the extent of moneys
available and that no liability shall be incurred by such municipality
beyond the moneys available for such purpose, and that any such payment
obligation of such municipality other than the timely payment of any
moneys collected by it and due to the agency or its tax lien entity as a
result of the redemption of tax liens which are the subject of such
purchase and sale agreements, is subject to appropriation by the
appropriate legislative body of such municipality.