N.Y. Public Housing Law Section 42
Provisions of authority bonds

Bonds of an authority shall be authorized by its resolution and may be issued singly or in one or more series, and shall bear such date or dates, mature at such time or times, bear interest at such rate or rates, without limitation, be in such denomination or denominations, interchangeable or otherwise, be in such form, either coupon or registered, carry such conversion or registration privileges, have such rank or priority, be executed in such manner, with or without authentication, and be subject to such terms of redemption with or without premium, and be secured in such manner, as such resolution may provide. The bonds may be sold by the authority at public or private sale at such price or prices as the authority may determine.

Source: Section 42 — Provisions of authority bonds, https://www.­nysenate.­gov/legislation/laws/PBG/42 (updated Sep. 22, 2014; accessed Jan. 24, 2026).

30
Organization of authorities 31
Scope of authority’s jurisdiction 32
Officers and employees 33
Transfer of officers and employees 34
Vacancies and removals 35
Non-liability of authority members 36
Disqualification of members and employees of authorities 37
Powers of authority 38
An authority shall file with the commissioner a copy of each proposed project embodying the plans, layout, estimated costs and proposed m... 39
Projects financed solely by authorities 40
Aid from and cooperation with federal government 41
Power to issue authority bonds 42
Provisions of authority bonds 44
Signature on authority bonds 45
Repurchase of authority bonds 46
Suit on authority bonds 47
Bond covenants of an authority 48
Guaranteed indebtedness of an authority 49
Authority obligations as legal investments and legal security for deposits by public officers 50
Foreclosure and other remedies against an authority 51
Liability of state or municipality 52
Tax exemptions of an authority 53
Depositories of authority funds 54
Filing by authority of by-laws, rules and regulations 55
Projects undertaken by municipalities 55–A
Facilities incidental or appurtenant to a project 56
Authorities created prior to the enactment of this chapter 57
Dissolution of authorities 58
Sale or lease of municipal projects by authorities 58–A
Sale of dwelling units by authorities 58–B
Sale or lease of project in connection with federal program of assistance for low income housing 59
Disposal of records 60
Reproduction of records 61
Tenant meetings in common areas
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Verified:
Jan. 24, 2026

Last modified:
Sep. 22, 2014

§ 42. Provisions of authority bonds's source at nysenate​.gov

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