New York § 3014 Conditions on payment of funds to or purchase of obligations of municipality

New York Statutes

§ 3014 — Conditions on payment of funds to or purchase of obligations of municipality

New York § 3014

Law PBAPublic Authorities

Title 2General Provisions Relating to Municipal Assistance Corporations

Art. 10New York State Municipal Assistance Corporation Act

This text of New York § 3014 (Conditions on payment of funds to or purchase of obligations of municipality) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Public Authorities § 3014 (2026).

Text

§ 3014. Conditions on payment of funds to or purchase of obligations\nof municipality.

1.A corporation shall require, in connection with any\npayment of funds to, or purchase or exchange of the obligations of, the\nmunicipality being assisted, or the extension of other benefits thereto,\nthat such municipality agree to observe such conditions with respect to\nexpenditure control, record keeping, accounting, budgeting, financial\nmanagement and other practices of such municipality as may be set forth\nin or permitted under the special law creating such corporation. Such\nagreement may provide such remedies for failure to observe such\nconditions as shall be necessary or desirable to accomplish the purposes\nof this article and such special law and are authorized or permitted\nthereunder.

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§ 3014. Conditions on payment of funds to or purchase of obligations\nof municipality. 1. A corporation shall require, in connection with any\npayment of funds to, or purchase or exchange of the obligations of, the\nmunicipality being assisted, or the extension of other benefits thereto,\nthat such municipality agree to observe such conditions with respect to\nexpenditure control, record keeping, accounting, budgeting, financial\nmanagement and other practices of such municipality as may be set forth\nin or permitted under the special law creating such corporation. Such\nagreement may provide such remedies for failure to observe such\nconditions as shall be necessary or desirable to accomplish the purposes\nof this article and such special law and are authorized or permitted\nthereunder.\n 2. Notwithstanding the provisions of any other law, general, special\nor local, inconsistent with the provisions hereof, any municipality may\nsell notes and bonds authorized to be issued pursuant to the local\nfinance law by private sale to the corporation or to receive moneys from\nthe corporation as herein provided and such municipality is hereby\nauthorized to agree to and undertake any agreements made pursuant to the\nterms hereof.\n