Title PBG, Public Housing

§ 637. Borrowing by the trust and for its benefit; effects of certain defaults. 1. For the purposes of this section, the term "project" means the acquisition, development, design, construction, reconstruction, improvement, rehabilitation, repairing and operation of housing facil…

§ 638. Resources of the trust. 1. Subject to the provisions of this article, the members of the board shall receive, accept, invest, administer, expend and disburse for its corporate purposes all money of the trust from whatever sources derived including (a) the proceeds of bond…

§ 639. Legal investment and deposit. The bonds, notes or other obligations of the trust are hereby made securities in which all public officers and bodies of the state and all public corporations, municipalities and municipal subdivisions, all insurance companies and association…

§ 640. Tax exemption and tax contract by the state. 1. It is hereby determined that the creation of the trust and the carrying out of its corporate purposes is in all respects for the benefit of the people of the state of New York and is a public purpose. Accordingly, the trust …

§ 641. Actions against the trust. 1. Except in an action for wrongful death, no action or proceeding shall be prosecuted or maintained against the trust for personal injury or damage to real or personal property alleged to have been sustained by reason of the negligence or wrong…

§ 642. Civil service and pension system membership. 1. The trust, for the purpose of administering the civil service law, shall be subject to the provisions of the civil service law and the rules of the city department of citywide administrative services or any successor acting …

§ 643. Collective negotiation. 1. The city of New York collective bargaining law shall apply to the trust. 2. For the purpose of article fourteen of the civil service law and the New York city collective bargaining law, as applicable, the trust, acting by and through its preside…

§ 644. Application of state and local human rights laws. Notwithstanding any provision of law to the contrary, article fifteen of the executive law and title eight of the administrative code of the city of New York shall apply to the trust.

§ 645. Limited liability. 1. As used in this section, the term "employee" shall mean the members of the board, president, officers, employees, or a former employee, his or her estate or judicially appointed personal representative. 2. Neither the members of the board nor any off…

§ 646. Audit and annual reports. The trust shall have an internal audit function and shall annually prepare and submit reports as required by this section, provided that no report shall be required during the earlier of the first year after the trust commences its operations or …

§ 647. Jurisdiction over trust. 1. The trust shall not be deemed a "covered organization" as defined in the New York state financial emergency act for the city of New York. 2. The department of investigation of the city shall be authorized to conduct investigations relating to t…

§ 648. Effect of inconsistent provisions. Insofar as the provisions of this article are inconsistent with the provisions of any other law, general, special or local or of the New York city charter or any local law, ordinance or resolution of the city, the provision of this artic…

§ 649. Severability. If any provision of this article or its application to any person or circumstance is held unconstitutional or invalid, in whole or in part, by any court, such holding of unconstitutionality or invalidity shall in no way affect or impair any other provision o…

§ 70. State loans. The commissioner may, in the name of the state, enter into contracts for loans to an authority or a municipality for one or more projects, though a project has received or will receive aid from any other source, except the federal government. All such contract…

§ 71. Conditions precedent to state loans. 1. No loan shall be made unless the commissioner finds that: (a) the project is in conformity with a plan or undertaking for the clearance, replanning, reconstruction or rehabilitation of a substandard and insanitary area or areas and f…

§ 72. Terms and security for state loans. 1. Loans shall be made at the rate of interest paid or to be paid by the state for the funds loaned to the authority or municipality, plus a proportionate share of the actual direct cost of the borrowing as certified by the state comptro…

§ 73. State subsidies. The commissioner may in the name of the state enter into contracts to make periodic subsidies (1) to an authority or a municipality for one or more projects to assist in achieving and maintaining the low rent character of a project, or, (2) to a municipali…

§ 74. Restrictions on additional subsidies. No subsidy, in addition to any periodic subsidy originally contracted for in aid of any project or projects, shall be paid by the state to a municipality or authority, acting as an instrumentality thereof, for the purpose of enabling s…

§ 75. Restriction on use of state aid. No state moneys allocated to an authority or a municipality hereunder shall be mingled or commingled with financial aid or assistance from the federal government or any agency thereof, except with the approval of the commissioner.

§ 76. Pledge of subsidy. Payments under any contracts for periodic subsidies by the state may be pledged by an authority as security for loans obtained from any source for the project to which such periodic subsidies relate.

§ 76-a. Private financing. To facilitate the enlistment of private capital through the sale by authorities or municipalities of their bonds and other obligations to persons, firms or corporations other than governments, in financing state projects, and to maintain the low-rent c…

§ 92. Real estate tax for debt service. If a city issues its obligations for any project or to raise funds to loan in aid of a project, such city may levy an ad valorem tax on real estate to the extent that revenues derived in any year from taxes levied pursuant to this chapter,…

§ 93. Authorization to make loans. A municipality is authorized to make or contract to make loans to an authority and to any housing company operating within the territorial limits of such municipality. Loans to housing companies shall not be greater in amount than seventy-five …

§ 94. Authorization to make subsidies. A municipality is authorized to make or contract to make capital or periodic subsidies to an authority operating within the territorial limits of such municipality, payable only with moneys locally appropriated therefor from the general or …

§ 95. Authorization to guarantee. A municipality is authorized to guarantee for a period not exceeding the probable life of a project, the principal of and interest on, or only the interest on, indebtedness contracted by an authority operating within the territorial limits of su…

§ 96. Administrative expenses of authority. Each municipality in which an authority is situated may annually appropriate to such authority the amount required by said authority for its administrative expenses. The amount thereof shall be within the discretion of the local legisl…

§ 97. Procedure for municipal aid. Contracts for municipal loans or subsidies to an authority or contracts for loans to a housing company shall be approved in the same manner as is required for approval and final authorization of capital projects or permanent improvements in suc…

§ 98. Conditions in contracts for municipal aid. In every contract for a loan by a municipality or for periodic subsidies by a municipality, or both, a substantial breach of the conditions set forth therein providing for the maintenance of the project as low rent housing shall b…

§ 99. Municipal services. In connection with projects located within its respective territorial boundaries, a municipality, a school district, a fire alarm district, a fire district, a fire protection district, or an improvement district may, upon such terms, with or without con…