* § 64-c. Payment in lieu of taxes for property acquired for park and
recreational purposes. The town of Hempstead, having acquired certain
property for park and recreational purposes in Lido Beach known as the
Lido Golf Club and the Lido Cabana Club shall have the power and
authority with respect to such property, to pay or transfer out of any
town funds available to it, annual sums in lieu of taxes to the affected
taxing jurisdiction, in order that none of such taxing jurisdiction
shall suffer an inequitable loss of revenue by virtue of such park and
recreational program; provided further, that the amount so paid or
transferred for any year shall not exceed the sum last levied for the
benefit of such taxing jurisdiction as an annual tax on such property
prior to the time of its acquisition for such purposes.

As used in this section, the term "taxing jurisdiction" means any
municipal corporation or district corporation, including any school
district or any special district, having the power to levy and collect
taxes and benefit assessments upon real property in Lido Beach or in
whose behalf such taxes or benefit assessments may be levied or
collected.

That the payments or transfers made pursuant to the power and
authority granted herein with respect to such property shall continue
notwithstanding that the legislature of the state of New York may
hereinafter alter, modify or replace the current method of financing of
public education and notwithstanding that a court of competent
jurisdiction may hereinafter order that such method of financing public
education be altered, modified or replaced.

* NB Expires July 1, 2025