N.Y. Railroad Law § 173-a

§ 173-a. The term "terminable permit" as used in this article shall\nmean and embrace every grant from a city, town or village of power,\nright or privilege to occupy or use any of the streets, roads, highways,\navenues, parks or public places of such city, town or village for the\nconstruction and operation of a street surface railroad, until such time\nas the city, town or village shall exercise its right to purchase the\nproperty, plant and equipment of such street surface railroad in\naccordance with the provisions of sections one hundred and\nseventy-three-a to one hundred and seventy-three-h, both inclusive, of\nthis article, or until it shall be otherwise terminated according to\nlaw.\n