1944. Appropriations for purposes of the authority; transfer of property to the authority; acquisition of property by municipality for authority; contracts with municipality. 1. In addition to any powers granted to it by law, any municipality may, from time to time, appropriate by resolution sums of money for purposes of the authority to defray auditorium costs or any other costs and expenses of the authority or to pay amounts payable or anticipated to be payable to the authority pursuant to any agreement authorized by this title. Subject to the rights of bondholders, such municipality may determine if the moneys so appropriated shall be subject to repayment by the authority and, in such event, the manner and time or times for such repayment.
2. Any municipality may give, grant, sell, convey, loan or license the use of or lease to the authority any property, real, personal or mixed, which is useful to the authority in order to carry out its powers under this title. Any such transfer of property shall be for such term and upon such terms and conditions, subject to the rights of bondholders, as the authority and such municipality may agree, including provision for the authority to assume the primary responsibility for the payment of any bonds or notes issued by such municipality for such property.
3. Notwithstanding the provisions of any other law, general, special or local to the contrary, real property acquired by the authority or any municipality from the state may be used for any corporate purpose of the authority.
4. One or more municipality and/or the authority shall have the power to contract, from time to time, between or among themselves, in relation to the auditorium which contracts may include any or all of the following provisions: (i) requiring the use by any municipality of the auditorium; (ii) limiting the right, including a prohibition, of any municipality to construct a facility which will serve the same, or substantially the same, function as the auditorium; (iii) requiring the authority to reserve time in the auditorium to assure the availability to any municipality of a specified use of the auditorium; (iv) providing for specified minimum periodic payments by a municipality to the authority, whether or not the auditorium is actually used by the municipality, subject to such limitations, exceptions and provisions therein, and (v) requiring any municipality to pay to the authority such amounts as shall be necessary to assure the continued operation of the authority. All such payments shall be determined and paid in such manner and at such times as may be provided in such contracts.
5. Any gift, grant, sale, conveyance, loan, contract or lease authorized by this section may be made or entered into by any municipality and/or the authority without a public hearing being first held therein and no such gift, grant, sale, conveyance, loan, contract or lease shall be subject to referendum, permissive or otherwise.
6. Notwithstanding the provisions of any law, general, special or local, or charter provision to the contrary, the city, by the affirmative vote of not less than a majority of the entire voting strength of the board of estimate of said city, may sell or transfer, by deed, lease or other arrangement, to the authority the auditorium. Any such agreement of sale or transfer shall be upon such terms and conditions as the governing body of said city and the authority may agree.
Last modified: February 3, 2019