§ 1192. Additional powers of tax districts in connection with the sale
of delinquent tax liens. 1. Notwithstanding any general or special law
to the contrary, a contract for the sale of tax liens from a tax
district to the bond bank or its tax lien entity shall, consistent with
the provisions of title eighteen of article eight of the public
authorities law, contain such terms, provisions and conditions as, in
the judgment of the tax district shall be necessary or desirable. Each
such contract shall specify the amount to be made available to a tax
district 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 sold to the bond bank or its tax lien entity, and any other
amounts which may be made available to the tax district on a contingent
basis under the terms of the contract. In addition, each contract may
require such tax district, subject to appropriation by the appropriate
legislative body of such tax district, to make provisions for the
payment of such other fees, charges, costs and other amounts as the tax
district shall in its judgment determine to be necessary or desirable.

2. Any contract entered into pursuant to subdivision one of this
section shall provide that the obligation of the tax district executing
such contract to fund or pay the amounts therein provided for shall not
constitute a debt of such tax district 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 tax district beyond the moneys available for such
purpose, and that any such payment obligation of such tax district other
than the timely payment of any moneys collected and due to the bond bank
or its tax lien entity as a result of the redemption of tax liens which
are the subject of such contract, is subject to appropriation by the
appropriate legislative body of such tax district.

3. A tax district may sell, and contract to sell, tax liens, and all
or part of any other amounts which may be made available to the tax
district on a contingent basis under the terms of the purchase and sale
agreement, to the bond bank or its tax lien entity at such price or
prices, upon such terms and conditions and in such manner, as the tax
district shall deem advisable. A tax district may also sell, or contract
to sell, real property acquired by the tax district pursuant to any tax
enforcement proceeding and not yet disposed of by such tax district, to
the bond bank or its tax lien entity in connection with the sale or
proposed sale of tax liens to the bond bank or its tax lien entity.

4. As a condition of sale of tax liens to the bond bank or its tax
lien entity, each tax district shall agree (a) to promptly pay, as
directed by the bond bank, any moneys collected by the tax district in
connection with the redemption and cancellation of such tax liens, (b)
to pay, subject to appropriation by the appropriate legislative body of
such tax district, any amounts due and owing to the bond bank or its tax
lien entity as a result of the sale of such tax liens, (c) to make such
covenants, representations, and warranties with respect to the tax liens
sold as required to effectuate the sale of such tax liens and facilitate
the marketing of tax lien collateralized securities issued by the bond
bank or its tax lien entity and (d) to accept a note or other instrument
issued by the bond bank or its tax lien entity to evidence any
contingent amounts payable under the terms of the contract.

5. In connection with the sale or proposed sale of tax liens to the
bond bank or its tax lien entity, a tax district may, notwithstanding
the provisions of any general or special law to the contrary, pay (a)
such fixed or annual charges as may be prescribed from time to time by
the bond bank for or with respect to the purchase by the bond bank or
its tax lien entity of the tax liens of such tax district, and (b) all
charges or expenses necessary for the conversion or reconversion of any
of its tax liens into such form as may be required by the bond bank in
connection with any sale or other disposition of such tax liens.

6. A contract to sell tax liens pursuant to this section may require
the tax district to repurchase a delinquent tax lien under the
conditions specified therein. If a delinquent tax lien should be
repurchased by the tax district, the tax district may resume the
enforcement of the delinquent tax lien pursuant to the locally
applicable procedures.