§ 505. Acquisition or leasing of property. 1. A participating county
may, in accordance with the provisions of law governing the acquisition
or leasing of real property by such county, acquire real property in the
name of such county by purchase or condemnation for use by the
corporation, or lease real property from other owners for such purpose,
and, by resolution of the governing body of such county, may through
lease or contract made upon such terms and conditions, with or without
consideration, and for such period of time as may be agreed upon by such
county and the corporation, authorize the use or occupancy of such real
property by the corporation for the carrying out of its corporate
purpose.

2. Such county may, in accordance with the provisions of law governing
the acquisition or leasing of personal property by such county, acquire
or lease personal property for use by the corporation and, acting by the
governing body of such county, may by lease or contract made upon such
terms and conditions, with or without consideration, and for such period
of time as may be agreed upon by such county and the corporation
authorize the use of such property by the corporation or transfer title
to such property to it, for the carrying out of its corporate purpose.

3. Such county may, by resolution of the governing body of such
county, or by an instrument authorized by such a resolution, authorize
the corporation to use or occupy for its corporate purpose any real
property then owned by or under lease to such county, upon such terms
and conditions, with or without consideration, and for such period of
time, as may be agreed upon by such county and the corporation; provided
that, in the case of any such property then under lease to such county,
the authorization granted by such county to the corporation shall be
within and consistent with the rights of such county as lessee of such
property.

4. Each corporation for the carrying out of its corporate purpose, may
itself acquire real property in the name of the participating counties
at the cost and expense of the corporation by purchase or condemnation
pursuant to the laws governing the condemnation of real property by each
county. The corporation shall have the use and occupancy of such real
property so long as its corporate existence shall continue.

5. a. Contracts may be entered into by a participating county and the
corporation containing undertakings by a participating county (i) to
acquire or lease real or personal property and authorize the use or
occupancy of same by the corporation, or (ii) to authorize the
corporation to use or occupy real or personal property then owned by or
under lease to a participating county, or (iii) to perform any other
acts on the part of such county authorized by subdivisions one, two and
three of this section, provided the acts of such county called for by
such undertakings are in conformity with the provisions of, and within
the powers granted to the county by, such subdivisions one, two and
three of this section. The making of any such contract shall be
authorized, on behalf of the county, by the governing body or the county
executive, or by both, as the case may be, in the same manner as the act
or acts of the county called for by the undertaking or undertakings in
such contract are required to be authorized under the applicable
provisions of such subdivisions one, two and three of this section.

b. Any such contract between a county and the corporation may be
pledged by the corporation to secure its bonds or notes and may not be
modified thereafter except as provided by the terms of the pledge.

6. In case the corporation shall have the use or occupancy of any real
property which it shall determine is no longer required for the carrying
out of its corporate purpose, then, if such real property was acquired
at the cost and expense of a county, the corporation shall have power to
surrender its use or occupancy thereof to the county, or, if such real
property was acquired at the cost and expense of the corporation, the
corporation shall have the power to sell, lease or otherwise dispose of
said real property at public or private 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 corporate purpose.

7. Notwithstanding the provisions of any general, special or local law
to the contrary, each corporation may make purchases of materials,
equipment or supplies, when available, through a participating county
subject to any procedures or rules which may be established by such
participating county prescribing the conditions under which, and the
manner in which purchases may be made. All purchases shall be subject
to audit and inspection by the corporation and the corporation shall
accept sole responsibility for any payment due the vendor. The
corporation shall make no purchase through the participating county when
bids have been received for such purchase by the corporation, unless
such purchase may be made upon the same terms, conditions and
specifications at a lower price through the participating county.