§ 30. Organization of authorities. 1. In the case of an authority hereafter established by a special act of the legislature, the mayor of a city or village, or the town board of a town, shall file in the office of the commissioner, and a duplicate in the office of the secretary of state, a […]
§ 31. Scope of authority’s jurisdiction. The territorial jurisdiction of an authority established for a city or village shall be coterminous with the territorial limits of such city or village, and the territorial jurisdiction of an authority established for a town shall include all such town, except that such territorial jurisdiction shall not include any […]
§ 32. Officers and employees; compensation and expenses. 1. When the office of the first chairman of the authority becomes vacant, the authority shall select a chairman from among its members. An authority shall select from among its members a vice-chairman, and it may employ, subject to the provisions of the civil service law applicable […]
§ 33. Transfer of officers and employees. Officers and employees of any board or department in or of the municipality, selected by the authority, who shall theretofore have passed a civil service examination with reference to the position they then hold, may be transferred with the consent of such board or department to the authority, […]
§ 34. Vacancies and removals. A vacancy occurring other than by reason of the expiration of the term of a member of an authority shall be filled for the unexpired term. The mayor of a city or village, or the town board of a town, may remove a member of the authority for inefficiency, neglect […]
§ 35. Non-liability of authority members. No personal liability or accountability shall attach to any member of an authority or to any person executing bonds of such authority by reason of the execution or issuance thereof.
§ 36. Disqualification of members and employees of authorities. No member or employee of an authority shall acquire any interest direct or indirect in a project or in any property then or thereafter included or planned to be included in a project, nor retain any interest direct or indirect in any property acquired subsequently to […]
§ 37. Powers of authority. 1. An authority shall have the following powers in addition to other powers granted in this chapter: (a) investigate into living conditions in the municipality and into the means of improving such conditions; (b) determine where insanitary or substandard housing conditions exist; (c) publish and disseminate information; (d) prepare or […]
§ 38. An authority shall file with the commissioner a copy of each proposed project embodying the plans, layout, estimated costs and proposed method of financing. Any change made in the project shall be filed with the commissioner by the authority. With reasonable promptness after each project shall have been completed, and from time to […]
§ 39. Projects financed solely by authorities. An authority may undertake projects with funds obtained solely from sale of its bonds to persons, firms or corporations other than governments, provided that the municipality approves such projects in the manner provided for approval of projects involving municipal aid.
§ 40. Aid from and cooperation with federal government. An authority is empowered to include in agreements with the federal government provisions that such government shall have the right to supervise and approve the construction, maintenance and operation of any project to which such government may render any assistance, and subject to the restrictions contained […]
§ 41. Power to issue authority bonds. 1. An authority may from time to time for any of the purposes of this chapter borrow money and issue bonds in conformity with applicable provisions of the uniform commercial code in such amounts and upon such terms as it may deem advisable. Bonds for state projects and […]
§ 42. Provisions of authority bonds. Bonds of an authority shall be authorized by its resolution and may be issued singly or in one or more series, and shall bear such date or dates, mature at such time or times, bear interest at such rate or rates, without limitation, be in such denomination or denominations, […]
§ 44. Signature on authority bonds. In case any of the members or officers of the authority whose signatures appear on any bonds or coupons shall cease to be such members or officers before the delivery of such bonds, such signatures shall, nevertheless, be valid and sufficient for all purposes, the same as if they […]
§ 45. Repurchase of authority bonds. An authority shall have power to purchase any bonds issued by it for the purpose of retirement or investment. An authority shall not purchase such bonds at a price in excess of the face value thereof plus a premium of four per centum. All bonds purchased for the purpose […]
§ 46. Suit on authority bonds. In any suit, action or proceeding upon any bond of an authority or the security therefor, any such bond reciting in substance that it has been issued by the authority to aid in financing a project to provide dwelling accommodations for persons of low income pursuant to the procedure […]
§ 47. Bond covenants of an authority. 1. In connection with the issuance of bonds or the incurring of an obligation, and to secure the payment of such bonds or obligations, an authority, in addition to its other powers, may: (a) Pledge, covenant to pledge, or covenant against pledging, all or any part of its […]
§ 48. Guaranteed indebtedness of an authority. An authority may contract indebtedness and authorize and issue bonds guaranteed by a municipality as to principal and interest, or only as to the interest.
§ 49. Authority obligations as legal investments and legal security for deposits by public officers. The state, its subdivisions, municipalities, and all other public bodies, and all public officers, all banks, bankers, trust companies, savings banks and institutions, building and loan associations, saving and loan associations, investment companies and other persons carrying on a banking […]
§ 50. Foreclosure and other remedies against an authority. 1. In an action or proceeding to foreclose a mortgage on property of an authority, the authority and the municipality, in addition to all other necessary parties, shall be made parties defendant and shall take such steps in said action as may be necessary to protect […]
