§ 1115-g. Transfer of sewerage or water systems by the city to the\nwater board. 1. The city may, by resolution of the common council of the\ncity, enter into an agreement with the water board for the transfer to\nthe water board, for use in the exercise of its corporate powers and\npurposes, of the sewerage system or water system, or both, of the city\nas the same then shall be owned by the city. Any such agreement may\nprovide for the transfer of title of such system or systems by deed,\nlease or other arrangement to the water board. To the extent not\ninconsistent with this title, any such agreement may impose such\nlimitations or conditions as may be agreed upon by and between the city\nand the water board with respect to the power of the water board to sell\nor otherwise dispose of any property acquired by the water board\npursuant to such agreement, and may provide for or authorize the water\nboard to surrender to the city property no longer required by the water\nboard for its public purposes. Notwithstanding the provisions of any\ngeneral, special or local law or charter to the contrary, any action\ntaken by the city pursuant to this subdivision shall not be subject to a\npermissive or mandatory referendum.\n 2. Any such agreement shall set forth the liabilities of the city\nwhich it is contemplated are to be paid by the water board from moneys\navailable to it; provided, however, that such agreement does not require\nthe water board to assume the liabilities of the city; provided further,\nnotwithstanding the foregoing, any real property owned by the city\noutside its municipal boundaries for the purposes of the water system\nincluding all water facilities which are subject to real property\ntaxation under city ownership shall remain subject to real property\ntaxation as provided in section one thousand one hundred fifteen-j of\nthis title upon transfer and conveyance to the water board as if the\ncity remained the record owner of such water system and water\nfacilities.\n 3. Any such agreement may provide for the payment by the city to the\nwater board from any funds of the city, of such amount as may be\ndetermined appropriate for use by the water board.\n 4. The city and the water board are hereby authorized and empowered to\nmake or enter into any contracts, agreements, deeds, leases, conveyances\nor other instruments as may be necessary or appropriate to effectuate\nthe purposes of this title, and they shall have power and authority to\ndo so and to authorize the doing of all things incidental, desirable or\nnecessary to implement the provisions of this title.\n 5. Notwithstanding the foregoing provisions of this section, no\nagreement comtemplated by this section shall become effective for any\npurpose unless and until the same shall have been approved in writing by\nresolution of the authority.\n 6. Upon the filing by the water board with the clerk of the city and\nthe secretary of state of a copy of the instruments or documents\neffectuating the transfer authorized by this section, the water board\nshall take possession of the sewerage system or water system, or both,\nof the city thereby transferred.\n 7. Any application filed or proceeding heretofore commenced in\nrelation to the sewerage system or water system, or both, transferred to\nthe water board pending with the state departments of environmental\nconservation or health or any other state agency or with the United\nStates environmental protection agency or any other federal agency or\ninstrumentality shall inure to and for the benefit of the water board\nand be binding upon the water board to the same extent and in the same\nmanner as if the water board had been a party to such application or\nproceeding from its inception, and the water board shall be deemed a\nparty thereto to the extent not prohibited by any federal law. Any\nlicense, approval, permit or decision heretofore or hereafter issued or\ngranted pursuant to or as a result of any suc
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