N.Y. Transp. Law § 27

§ 27. Power to sell and lease property; disposition of proceeds.\nProvided that concurrent legislation for the same purpose be enacted by\nthe commonwealth of Pennsylvania, the said joint commission be and is\nhereby authorized and empowered as follows:\n (a) To sell and dispose of such real and personal property in either\nPennsylvania or New York as is, in its judgment, not necessary for the\nproper care, maintenance and operation of such bridges as are, or may\nhereafter come, under its control and jurisdiction for such price or\nprices and under such conditions as such commission may deem proper and\nreasonable.\n (b) To lease real estate owned by it, and which, in its judgment, is\nnot necessary for the maintenance and operation of the bridges under its\ncontrol and jurisdiction, and to grant licenses to public utility\ncompanies for the occupation of parts of bridges and other real estate\nnow or hereafter under the control and jurisdiction of said commission,\nupon such terms and conditions, and for such rentals and fees, as are,\nin the opinion of the commission, proper and reasonable.\n (c) To pay all moneys paid to it, in accordance with the provisions of\nthis section, as follows: one-half thereof shall be paid unto the state\nof New York, and the remaining half thereof shall be paid unto the\ncommonwealth of Pennsylvania, such payment to the state of New York to\nbe deposited in the state treasury to the credit of the general fund;\nprovided, however, that whenever the real or personal property, which\nthe commission may desire to sell, has been acquired or secured at the\nsole cost and expense of the commonwealth of Pennsylvania or the state\nof New York, the entire net proceeds of such sale shall be paid to the\nstate which has borne the cost of acquisition of such property.\n