The town board of a town may contract for and purchase land in the name of the town containing a gravel bed or other material for use on the public highways and bridges of the town. No such land shall be purchased except at an agreed price with the owner. No such land shall be resold to any private corporation. The purchase price of such land shall be a town charge and be paid from moneys levied or collected therefor, as provided by law. All such property so acquired shall vest in and become the property of such town.
New York Legal Code