{"data":{"id":"us-ny/n.y.-const.-art.-xviii-5","jurisdiction":"us-ny","citation":"N.Y. Const. art. XVIII, § 5","heading":"Liability for certain loans made by the state to certain public corporations","body":"§ 5. Any city, town or village shall be liable for the repayment of\nany loans and interest thereon made by the state to any public\ncorporation, acting as an instrumentality of such city, town or village.\nSuch liability of a city, town or village shall be excluded in\nascertaining the power of such city, town or village to become indebted\npursuant to the provisions of this article, except that in the event of\na default in payment under the terms of any such loan, the unpaid\nbalance thereof shall be included in ascertaining the power of such\ncity, town or village to become so indebted. No subsidy, in addition to\nany capital or periodic subsidy originally contracted for in aid of any\nproject or projects authorized under this article, shall be paid by the\nstate to a city, town, village or public corporation, acting as an\ninstrumentality thereof, for the purpose of enabling such city, town,\nvillage or corporation to remedy an actual default or avoid an impending\ndefault in the payment of principal or interest on a loan which has been\ntheretofore made by the state to such city, town, village or corporation\npursuant to this article.","path":["Constitution","Article XVIII. Housing"],"source_url":"https://legislation.nysenate.gov/api/3/laws/CNS/A18S5","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:44Z","sha256":"9376b33fe45ff69f454df048a2a573b4102aa29a4d8c73b403a363a6b7a7822d","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-const.-art.-xviii-4","next":"us-ny/n.y.-const.-art.-xviii-6"},"notice":"GroundRules: Original legal text. Not legal advice."}