* § 70. Eminent domain. 1. The power of eminent domain may be\nexercised by or for an authority after the adoption by it of a\nresolution declaring that the acquisition of the property described\ntherein is in the public interest and necessary for the public use and\nthat such property is included in an approved project.\n 2. The authority may exercise the power of eminent domain pursuant to\nthe provisions of the condemnation law with such modifications as are in\nthis subdivision two provided. A certified copy of the authority's\nresolution shall be conclusive evidence as to the matters contained\ntherein in any proceeding under the condemnation law to acquire the\nproperty or any part thereof described in such resolution. The\nproceeding shall be instituted by the presentation of a petition by the\nauthority to the supreme court pursuant to section four of the\ncondemnation law. The petition shall, in lieu of the statements required\nby subdivision one of section four of said law, set forth the name of\nthe authority and the time and place of the filing of its certificate,\nand shall in addition to the matters required by said section four,\nstate the amount or valuation at which each parcel of the real property\nto be acquired has been assessed for purposes of taxation on the tax\nrolls of the municipality for each of the three years preceding the date\nof the petition, which assessed valuation in case only part of an entire\nplot in a single ownership is to be acquired shall be pro-rated\naccording to the area of the part so to be acquired.\n Where it appears to the satisfaction of the court, at any stage of the\nproceedings, upon the petition of the authority, that the public\ninterest will be prejudiced by delay, the court may after such notice to\nthe parties in interest as it may prescribe, which notice, however,\nshall not be less than eight days and may be by posting upon the\nproperty or by publication in such paper or papers at such times as the\ncourt may require, order that the authority be permitted to enter\nimmediately upon the real property described in the petition, or any\npart thereof, and to demolish any structures located thereon, and to\nproceed with the construction of the project thereon, upon depositing\nwith the court a sum of money or in lieu thereof, bonds or obligations\nof the state or the United States of equivalent or greater value, not\nless than the last assessed valuation of the property, which the court\nshall find to be sufficient for the protection of the persons who may be\nentitled to the award. Such deposit or the proceeds thereof shall be\napplied, so far as it may be necessary for that purpose, to the payment\nof any award that may be made, with interest thereon, costs and\nexpenses, and the residue, if any, shall be returned to the authority.\n An authority may petition the municipality to institute proceedings\nunder its charter or other law, to acquire property described in the\npetition which the authority has certified to be necessary for a\nproject. The resolution granting the petition shall set forth the amount\nto be paid by the authority to the municipality for such property or in\nlieu thereof that the authority shall pay to the municipality all sums\nexpended or required to be expended by the municipality in the\nacquisition thereof, and the time of payment and manner of securing\npayment thereof, and may require that the municipality shall receive,\nbefore proceeding with the acquisition of such property, such assurances\nas to payment or reimbursement by the authority or otherwise as the\nmunicipality may deem advisable. Upon the passage of a resolution by the\nmunicipality granting the petition, the authority shall cause two\nsurveys or maps of the property described in the petition to be made one\nof which shall be filed in the office of the authority and the other in\nthe office in which instruments affecting real property in the county\nare recorded. The filing
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