N.Y. Gen. Mun. Law § 94-a

§ 94-a. Tax equivalent payments of the city of Jamestown board of\npublic utilities. Notwithstanding any law, rule or regulation to the\ncontrary, in addition to the amount equivalent to taxes authorized to be\nearned and paid pursuant to section ninety-four of this chapter, the\ncity of Jamestown is hereby authorized in the operation of its board of\npublic utilities electric utility service to earn and pay from such\noperation to the Jamestown city school district an amount equivalent to\ntaxes which said service, if privately owned, would pay to such school\ndistrict. The terms and conditions of any such tax equivalent payments\nshall be determined in accordance with agreements entered into from time\nto time between such school district and such board of public utilities.\n