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This entry was published on 2014-09-22
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SECTION 59-B
Purchase or acquisition of lands; payment of purchase price
State (STL) CHAPTER 57, ARTICLE 4-A
§ 59-b. Purchase or acquisition of lands; payment of purchase price.
The commission shall cause an appraisal to be made of just compensation
to the owners of the lands and the structures and waters thereon,
appropriated by the state as hereinbefore provided, and of the estates
and interests therein of all persons, corporations or municipalities.
The commission shall negotiate with the owners of such property for the
purchase thereof, but in no case shall an amount greater than the
appraised compensation for such property be paid. The commission and
the persons, corporations and municipalities whose property has been
appropriated and who have agreed upon a compensation to be paid
therefor, shall enter into an agreement for the conveyance or transfer
of the property appropriated and for the payment of the compensation to
be paid, which shall be executed by the commission and the said owners.
Such agreement shall be filed in the office of the comptroller. If the
commission is unable to agree as to the compensation to be paid for such
lands and the structures and waters thereon, the court of claims shall
have jurisdiction to determine the amount of such compensation, and upon
proceedings being brought before such court as provided by law, an award
shall be made of compensation for the lands, structures and waters or
interests therein so appropriated.

The persons, corporations or municipalities whose property has been
taken under the provisions of this article, and who have agreed upon the
compensation to be paid therefor or to whom an award of compensation has
been made by the court of claims, shall be entitled to interest from the
time of the actual occupancy thereof by the state to the date of the
payment of the said compensation; but such interest shall cease upon the
service by the comptroller upon the person, corporation or municipality
entitled thereto of a notice that the state is ready and willing to pay
the amount of such compensation upon the presentation of proper proof
and vouchers.