Title PBG, Public Housing

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

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

§ 639. Legal investment and deposit. The bonds, notes or other\nobligations of the trust are hereby made securities in which all public\nofficers and bodies of the state and all public corporations,\nmunicipalities and municipal subdivisions, all insurance companies and\nassocia…

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

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

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

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

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

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

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

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

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

§ 649. Severability. If any provision of this article or its\napplication to any person or circumstance is held unconstitutional or\ninvalid, in whole or in part, by any court, such holding of\nunconstitutionality or invalidity shall in no way affect or impair any\nother provisi…

§ 70. State loans. The commissioner may, in the name of the state,\nenter into contracts for loans to an authority or a municipality for one\nor more projects, though a project has received or will receive aid from\nany other source, except the federal government. All such contr…

§ 71. Conditions precedent to state loans. 1. No loan shall be made\nunless the commissioner finds that: (a) the project is in conformity\nwith a plan or undertaking for the clearance, replanning, reconstruction\nor rehabilitation of a substandard and insanitary area or areas an…

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

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

§ 74. Restrictions on additional subsidies. No subsidy, in addition\nto any periodic subsidy originally contracted for in aid of any project\nor projects, shall be paid by the state to a municipality or authority,\nacting as an instrumentality thereof, for the purpose of enablin…

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

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

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

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

§ 93. Authorization to make loans. A municipality is authorized to\nmake or contract to make loans to an authority and to any housing\ncompany operating within the territorial limits of such municipality.\nLoans to housing companies shall not be greater in amount than\nseventy-f…

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

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

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

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

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

§ 99. Municipal services. In connection with projects located within\nits respective territorial boundaries, a municipality, a school\ndistrict, a fire alarm district, a fire district, a fire protection\ndistrict, or an improvement district may, upon such terms, with or\nwithout…