§ 2612. Agreement with the park district. 1. The specific terms of the
agreement shall not exceed twenty years and shall be negotiated between
the authority and the park district with respect to all participating
olympic facilities owned by the park district, and shall include but not
be limited to, the ski jump facilities located at Intervale and the
speed skating and arena complex located in the village of Lake Placid.

2. The agreement between the authority and the park district shall
provide the following:

(a) The authority shall receive the participating olympic facility,
including any personal property and equipment owned by the park district
and used solely in connection therewith, which is the subject matter of
the agreement in its condition at the time of the commencement of the
agreement.

(b) The authority shall agree to continue to provide at the
participating olympic facility the space, facilities and the level of
local recreation, including youth sports training, promotion and
programming, as was provided by the park district during the year
immediately preceding the execution of the agreement.

(c) The authority shall comply with (1) all agreements existing on the
effective date of this title affecting the participating olympic
facility, provided such existing agreements are listed in the agreement
with the park district, and (2) all agreements entered into by the park
district after the effective date of this title which affect the
participating olympic facility, provided such agreements are first
approved by the director of the budget.

(d) Upon termination of the agreement, the personal property,
including replacements and/or substitutions therefor, which is owned by
the authority and used solely in connection with the participating
olympic facility which is the subject matter of the agreement shall pass
to and be vested in the park district. Such personal property shall be
accepted by the park district in its condition at the time of such
termination.

(e) The authority shall maintain and keep the participating olympic
facility, including the personal property and equipment used solely in
connection therewith, in good repair, provided that the authority shall
not be required to repair any damage to the participating olympic
facility, including the personal property and equipment used solely in
connection therewith, existing at the time the authority enters into the
agreement unless funds are made available to the authority therefor.

(f) The authority may make improvements to the participating olympic
facility to the extent that federal funds are made available for such
purpose.

(g) The authority may terminate its agreement with the park district
if the park district fails to carry out all of the provisions of the
agreement or fails to appropriate and pay (1) in the first full fiscal
year of the authority following the execution of the agreement an amount
to be agreed upon by the park district and the authority, which amount
shall be equal to the total cost of operating the participating olympic
facility which is the subject matter of the agreement in the first full
fiscal year of the park district immediately preceding execution of the
agreement, less all income received by the park district from the
operation of the participating olympic facility in such year; and (2) in
each fiscal year thereafter an amount equal to the appropriation made to
the authority as provided in subparagraph one of this paragraph in the
first full fiscal year following execution of the agreement, plus such
amount multiplied by the percentage increase of the park district's full
tax assessment of real property within its taxing district for the
fiscal year for which the appropriation is made over the full tax
assessment in the first full fiscal year following execution of the
agreement.

(h) The park district and the authority shall agree on the dates that
the park district shall provide such appropriation to the authority.

(i) The park district may terminate its agreement with the authority
if the park district fails to approve the budget of the authority as it
pertains to the operation of participating olympic facilities or if the
state fails to appropriate and pay funds as provided in paragraph (g) of
subdivision two of section twenty-six hundred fourteen of this title.