Whenever the authority, in any condemnation proceeding for the acquisition of any property, shall make application for temporary possession pursuant to the provisions of section twenty-four of the condemnation law, the sum to be fixed by the court for deposit, as a condition of granting such application, shall not exceed ten per centum of the assessed valuation of the real property sought to be acquired in such proceedings as such assessed valuation appears upon the last assessment rolls for county taxes prior to the commencement of such proceeding.
New York Legal Code