§ 607. Acquisition or leasing of property by the state or corporation;
agreements between the state and corporation as to use or occupancy of
property. 1. The state may, in accordance with the provisions of law
governing the acquisition or leasing of real property by the state,
acquire real property in the name of the state by purchase or
condemnation for use by the corporation, or lease real property from
other owners for such purpose, and 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 the state and the
corporation, authorize the use or occupancy of such real property by the
corporation for the carrying out of its corporate purpose.

2. The state may, in accordance with the provisions of law governing
the acquisition or leasing of personal property by the state, acquire or
lease personal property for use by the corporation and 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 the
state 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. Contracts may be entered into by the state and the corporation
containing undertakings by the state (i) to acquire or lease real or
personal property and authorize the use or occupancy of same by the
corporation, or (ii) to perform any other acts on the part of the state
authorized by subdivisions one and two of this section, provided the
acts of the state called for by such undertakings are in conformity with
the provisions of, and within the powers granted to the state by,
subdivisions one and two of this section. The making of any such
contract shall be authorized in the same manner as the act or acts of
the state called for by the undertaking or undertakings in such contract
are required to be authorized under the applicable provisions of
subdivisions one and two of this section.

4. If such real property was acquired at the cost and expense of the
corporation, the corporation shall have 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.

5. The site selection board, as defined in section six hundred two of
this article shall operate pursuant to the following procedures:

a. Every act of the board shall be by resolution adopted by a majority
of the votes cast by all the members. No resolution shall be adopted
except after a public hearing, notice of which shall be published in the
state register for six consecutive business days and in a newspaper of
general circulation in the city for two consecutive business days
immediately preceding said hearing.

b. Meeting of the site selection board shall be called either:

(i) as directed by the board upon notice thereof published in the
state register for six consecutive business days and in a newspaper of
general circulation in the city for two consecutive business days; or

(ii) upon written notice to the board by the president of the
corporation, that a site for an off-track betting branch office is under
consideration by the corporation for lease or acquisition. A copy of
such written notice shall be published in the state register for six
consecutive business days and in a newspaper of general circulation in
the city for two consecutive business days. All meetings of the board
shall be within seven consecutive business days of the date on which
notice of said meeting is first printed in the state register for six
consecutive business days and in a newspaper of general circulation in
the city for two consecutive business days.

c. The site selection board shall have power and authority to adopt
and amend rules and regulations for the conduct of its business and to
carry out its powers and duties; provided, however, that the board shall
adopt rules which require board action on a proposed site within thirty
days of the board's public hearing provided for herein and that by its
failure to act within thirty days the board shall be deemed to have
approved the site.