N.Y. Local Finance Law § 153.00: Authorization for municipality to assign for collateral or pledge its mortgage interest

§ 153.00 Authorization for municipality to assign for collateral or

pledge its mortgage interest. Any municipality shall be authorized to

assign for collateral or pledge as security for any of its bonds, notes

or other obligations its mortgage interest in a project constructed

pursuant to article two of the private housing finance law to the state

or to any political subdivision thereof.