N.Y. PBA Law § 2642-I
This is the official text of N.Y. PBA Law § 2642-I, part of New York’s PBA Law — part of the compiled statutory law of New York, published by the state as "PBA Law." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Advances on behalf of authority; transfer of property to authority; acquisition of property for authority
Official statutory text
§ 2642-i. Advances on behalf of authority; transfer of property to\nauthority; acquisition of property for authority. 1. In addition to any\npowers granted to it by law, any participating county may by resolution\nadvance sums of money to or on behalf of the authority to defray costs\nor expenses of the authority to be incurred prior to the first issuance\nof bonds. Subject to the rights of any bondholders, the moneys so\nappropriated may be repaid by the authority to the participating county\nat such time and in such manner as may be agreed upon between the\nauthority and the participating county.\n 2. Any participating county or any municipality along the southern\ntier extension railroad line may by resolution give, grant, sell,\nconvey, lend, or license the use of or lease to the authority any\nproperty or facility which is useful to the authority in order to carry\nout its powers under this title. Any such transfer of property shall be\nupon such terms and conditions, subject to the rights of any\nbondholders, as the authority and the participating county or the\nmunicipality may agree.\n 3. Notwithstanding the provisions of any other law, general, special,\nor local, real property acquired by the authority or any participating\ncounty from the state may be used for any corporate purpose of the\nauthority.\n
Status: in_force · Read it on the official government site
Need a lawyer in New York?
Find a New York lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.