New York Statutes

§ 10 — Mortgaging property

New York·Law BVO Benevolent Orders·Art. 2 General Provisions
§ 10. Mortgaging property. If the funds of the corporation shall not\nbe sufficient to pay for any real property purchased by the board of\ntrustees in pursuance of law, or for the construction, repair or\nrebuilding of a suitable building or buildings, and the finishing or\nfurnishing of apartments therefor, the corporation may issue its bonds\nbearing interest, semi-annually, for such additional sum as may be\nrequired therefor, and may execute to any such trustee or trustees, as\nthe board may select, a mortgage upon its real property as security for\nthe payment of such bonds or the corporation may borrow such additional\nsum as may be required therefor of any person or corporation and execute\nand deliver its bond for the moneys so borrowed and secure the payment\nthereof by mortgag

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