N.Y. Public Housing Law § 219-c: Additional powers of certain authorities

§ 219-c. Additional powers of certain authorities. An authority

operating in a city having more than one million inhabitants shall have

the following powers in addition to the other powers granted by this

chapter:

1. Prepare or arrange for preparation of plans for, acquire,

construct, lease, carry out, manage, operate and dispose of emergency

projects, and with regard to emergency projects shall have and exercise,

except as in this article otherwise expressly provided, all the powers,

rights and privileges granted to an authority under this chapter in

reference to any project of an authority, but without regard to the

limitations prescribed by sections ninety-seven, one hundred fifty, one

hundred fifty-one, one hundred fifty-five, and one hundred fifty-six of

this chapter.

2. Act as agent for, or enter into contracts and otherwise cooperate

with a government in connection with emergency projects.

3. Issue bonds and notes for the purposes of this article in

accordance with the powers granted under article three of this chapter,

except that such bonds may be issued for periods not exceeding the

probable life of the emergency project for which they are issued, which

probable life is hereby determined to be ten years. The powers granted

by this section shall include the power of such authority to issue its

bonds or notes to finance all or any part of the development and

operation of emergency projects which a city has undertaken by contract

with a government, and as to which the authority will act as agent or

lessee for the city, notwithstanding that the city agrees to reimburse

the authority for all or any part of the development and operation of

the emergency project.

4. Issue refunding bonds for the purpose of paying or retiring bonds

previously issued by it for emergency projects but no such refunding

bonds shall have a maturity date later than the end of the probable life

of the emergency project for which they are issued.