§ 459 — Watervliet Housing Authority

§ 459. Watervliet Housing Authority. A municipal housing authority,\nto be known as the Watervliet Housing Authority, is hereby created and\nestablished for the city of Watervliet in the county of Albany for the\naccomplishment of any or all of the purposes specified in article\neighteen of the constitution of the state of New York. It shall\nconstitute a body corporate and politic and consist of five members. It\nshall have the powers and duties now or hereafter conferred by this\nchapter upon municipal housing authorities. It shall be organized in\nthe manner prescribed by and subject to the provisions of this chapter,\nand the authority, its members, officers and employees and its\noperations and activities shall in all respects be governed by the\nprovisions of this chapter. Such authority shall have perpetual\nduration; provided, however, that if at the expiration of five years\nsubsequent to the time this section as hereby added takes effect, there\nshall be outstanding no bonds or other obligations of such authority\ntheretofore issued for any of the purposes authorized in this chapter,\nthen its corporate existence shall thereupon terminate and such\nauthority shall thereupon be deemed to be and shall be dissolved.\n