§ 65 — Loans and payments by municipality

New York § 65

• Jurisdiction: New York
• Law MHA: Municipal Housing Authorities
• Art. 5: Of the Former State Housing Law (cited Herein As the "municipal Housing Authorities Law"), As Such Article Existed Immediately Prior to Its Repeal Pursuant to Section 227 of Chapter 808 of the Laws of 1939, Is Provided Here For Ease of Reference and Historical Purposes As Such Text Continues to Be Applicable For the New York City Housing Authority Pursuant to the Provisions of Section 401 of the Current Public Housing Law

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* § 65. Loans and payments by municipality. 1. A municipality may\nadvance, lend or agree to lend to an authority, or it may pay or agree\nwith an authority or government to pay to an authority, without\nreimbursement by or liability of the authority or government therefor,\nsuch sums as the authority may require for its administrative expenses\nnot exceeding one million dollars for a city of more than a million\ninhabitants, two hundred thousand dollars for any other city, fifty\nthousand dollars for any county, or ten thousand dollars for any\nvillage.\n 2. A municipality may make such loans or payments out of any funds\navailable for that purpose or it may direct the comptroller to issue and\nsell special revenue bonds or other similar obligations of the\nmunicipality and out of the proceeds thereof to make such loans or\npayments. The amount necessary to pay the principal and interest of such\nbonds or other obligations shall be included in the estimates of monies\nnecessary to be raised by taxation to carry on the business of the\nmunicipality and shall be made a part of the tax levy for the year next\nfollowing the year in which such loans or payments are made.\n * NB The text of Article 5 of the former State Housing Law (cited\nherein as the "Municipal Housing Authorities Law"), as such article\nexisted immediately prior to its repeal pursuant to section 227 of\nChapter 808 of the Laws of 1939, is provided here for ease of reference\nand historical purposes as such text continues to be applicable for the\nNew York City Housing Authority pursuant to the provisions of section\n401 of the current Public Housing Law.\n