59 A.D.2d 682 | N.Y. App. Div. | 1977
Judgment, Supreme Court, New York County, entered on February 1, 1977, granting the cross motion of the City of New York to dismiss the petition, unanimously affirmed. Respondent shall recover of appellants $60 costs and disbursements of this appeal. This proceeding was brought by the petitioner to challenge the extension agreement among the holders of revenue anticipation notes, tax anticipation notes, and the City of New York. The petitioners’ position is that these notes cannot be extended beyond the dates which the taxes or revenues anticipated have been actually received by the city. Petitioners’ standing to bring this proceeding is predicated on a claim that they are taxpayers within the meaning of section 51 of the General Municipal Law in that they own a proprietary lease in a co-operative corporation. However, persons qualified to sue within the intendment of section 51 of the General Municipal Law must own real property assessed at $1,000 or more. An interest in a co-operative corporation, as claimed by the petitioners, is an interest in personalty and not realty (Silverman v Alcoa Plaza Assoc., 37 AD2d 166), and petitioners therefore have no standing to bring this suit. The petition was properly dismissed (Food Mart Assoc. v City of New York, 64 Misc 2d 971, affd 36 AD2d 693). We further note that petitioners’ counsel should in any event be disqualified. Upon motion of the City of New York, the petitioners’ attorney was found disqualified to serve as counsel for proposed interveners in an action against the Municipal Assistance Corpora