Village of Green Island, NY
Albany County
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Table of Contents
Table of Contents
[HISTORY: Adopted by the Board of Trustees of the Village of Green Island as indicated in article histories. Amendments noted where applicable.]
GENERAL REFERENCES
Electrical utility rates — See Ch. A176.
[1]
Editor's Note: Former Art. I, Rate Adjustment, adopted 9-11-1978 by L.L. No. 4-1978, was removed at the request of the Village.
[Adopted 10-27-1986 by L.L. No. 2-1986]
A. 
The Mayor is hereby authorized and empowered to enter into negotiations with and execute a contract with the Green Island Power Authority[1] for the transfer and sale of the electric power distribution system and related properties, both real and personal, of the Village to the Green Island Power Authority for such consideration as he shall deem appropriate; provided, however, that in no event shall the consideration to be paid by the Green Island Power Authority for the transfer and sale of such electric power distribution system be less than the book value of said system and related properties as shown on the general ledger of the Village or other relevant records of the Village, as the case may be.
[1]
Editor's Note: See § 1020 et seq. of the Public Authorities Law (L. 1986, c. 807, as amended by L. 1987. c. 7) for information regarding the creation of the Green Island Power Authority by the State Legislature.
B. 
Upon payment of the consideration described in the contract of sale described in Subsection A hereof, the Mayor is hereby further authorized and empowered to execute and deliver all such documents and instruments and to take all such further action necessary to accomplish the transfer and sale of the electric power distribution system and such related properties to the Green Island Power Authority, including but not limited to applying to any regulatory bodies for any approvals required under any applicable state, federal or local law.
C. 
The Mayor is hereby further authorized and empowered to execute and deliver all such documents and instruments necessary to accomplish the assignment to the Green Island Power Authority of any contracts, licenses and other agreements entered into by the Village in connection with the electric power distribution system or such related properties.