LegalFix

553-A - Additional Powers in Relation to Brooklyn Richmond Project.

NY Pub Auth L § 553-A (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(a) the acquisition of such land, easements and rights in land for, and the design, construction and financing of, the Narrows bridge project by the port authority, including the payment therefor by the authority and the transfer of title thereto and the right of possession and use thereof, provided, however, that the agreement shall contain provisions as to the land, easements and rights in land to be acquired, and that such provisions of such agreement shall be subject to the approval of the mayor of the city, and provided further that such agreement shall provide that no other land, easements or rights in land will be acquired for Narrows bridge purposes by the port authority.

(b) the construction, with the consent of the city, either by the authority or the port authority, of new parks, parkways, highways, or improvements to existing parks, parkways or highways, either connecting directly or indirectly with the Narrows bridge project, for the purpose of attracting or facilitating traffic or improving approaches to and connections with such project, and the acquisition of land, easements and rights in land therefor,

(c) leasing the Narrows bridge project, in whole or in part, by the authority from the port authority and the payment by the authority of rents or other payments therefor, and for the operation, maintenance, construction and reconstruction thereof by the authority pursuant to and to the extent provided by the terms of such agreement for leasing,

(d) charging and fixing tolls, fees and rentals for the use of such project, sufficient to provide for the payment by the authority of the costs of construction, maintenance and operation thereof and all rents and other payments under any such agreement for leasing, for the payment of the principal of and interest on any bonds or other obligations to be issued by the authority to pay the cost of such project and all other payments to be made by the authority including reserves and sinking funds therefor, in accordance with any such agreement for leasing or other agreement made between the port authority and the authority in connection with such project,

(e) securing the payment of rents and other payments under any such agreement for leasing, or other agreement made between the port authority and the authority in connection with such project, by pledging such tolls, fees, rentals and revenues of such project and providing for the use and disposition of such tolls, fees, rentals and revenues, and for the setting aside of reserves or sinking funds and the regulation and disposition thereof, and, subject to and in accordance with all contract provisions with respect to any bonds, by pledging for such security tolls, fees, rentals and revenues of any or all of the projects,

(f) limiting the construction by the authority of vehicular crossings between Brooklyn and Richmond,

(g) acquiring from the port authority all or any part of the right, title and interest of the port authority in such project and the lands, easements and rights in land acquired for such project by the port authority,

(h) defining events of default under such agreement, fixing periods of grace and providing rights and remedies of the parties in case of default thereunder including the right to terminate and fix the terms and conditions for the termination of the same, and

(i) any other matters of like or different character for the protection of the interest of the port authority or the authority or the respective holders of bonds thereof or the public with respect to the acquisition, construction, reconstruction, improvement, operation or maintenance of the Narrows bridge project. 2. The authority shall have power to do any acts or things, transfer such rights or interests and execute and deliver such papers as the authority may deem necessary or desirable to carry out any of the foregoing. 3. The authority, so long as its corporate existence shall continue, shall have power to operate, maintain, construct, improve and reconstruct the Narrows bridge project and to exercise all of the powers herein granted to the authority with respect to the Narrows bridge project in connection with any agreements between the port authority and the authority or otherwise, and subject to any such agreements shall have the use and occupancy of any lands, easements or rights in land acquired in the name of the city for such project. The powers conferred in this section shall be in addition to and shall not limit the other powers conferred in this title.

LegalFix

Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.

LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.

The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.

You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.

The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.

Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.

We have updated our Terms of Service, Privacy Policy, and Disclosures. By continuing to browse this site, you agree to our Terms of Service, Privacy Policy, and Disclosures.
553-A - Additional Powers in Relation to Brooklyn Richmond Project.