N.Y. Public Housing Law § 426: Albany Housing Authority

§ 426. Albany Housing Authority. A municipal housing authority, to be

known as the Albany Housing Authority, is hereby created and established

in the city of Albany in the county of Albany for the accomplishment of

any or all of the purposes specified in article eighteen of the

constitution of the state of New York. It shall constitute a body

corporate and politic and consist of five members. It shall have the

powers and duties now or hereafter conferred by this chapter upon

municipal housing authorities. It shall be organized in the manner

prescribed by and subject to the provisions of this chapter, and the

authority, its members, officers and employees and its operations and

activities shall in all respects be governed by the provisions of this

chapter. Such authority shall have perpetual duration; provided,

however, that if, at the expiration of three years subsequent to the

time this section as hereby amended takes effect, there shall be

outstanding no bonds or other obligations of such authority, theretofore

issued for any of the purposes authorized in this chapter, then its

corporate existence shall thereupon terminate and such authority shall

thereupon be deemed to be and shall be dissolved.