[Adopted 11-26-1980 by L.L. No. 12-1980, approved 12-12-1980]
[Amended 10-26-1983 by L.L. No. 3-1983, approved 11-10-1983]
Any resolution or ordinance hereinafter adopted by the City
Council pursuant to General Municipal Law § 22 for the purpose
of claiming against fire insurance policy proceeds for liens for taxes,
special ad valorem levies, special assessments and municipal charges
shall be subject to the condition that the City shall release or return
to the insured any amounts to which it would otherwise be entitled
to claim, provided that the insured agrees with the City, in writing,
to restore the affected premises to the same or improved condition
that it was in prior to the time that the City's lien against
proceeds as provided in General Municipal Law § 22 arose,
subject to conditions such resolution or ordinance shall provide to
guarantee performance of such obligation, including, but not limited
to, an agreement to deposit such proceeds in an escrow account or
that the insured shall obtain a performance bond.
This article shall take effect pursuant to § 20 of
the Municipal Home Rule Law.