2006 New York Code - Idem; powers of legislature in aid of.

 
    § 2. For and in aid of such purposes, notwithstanding any provision in
  any  other  article of this constitution, but subject to the limitations
  contained in this article, the legislature may: make or contract to make
  or authorize to be made or contracted capital or periodic  subsidies  by
  the  state  to  any  city, town, village, or public corporation, payable
  only with moneys appropriated therefor from  the  general  fund  of  the
  state;  authorize  any city, town or village to make or contract to make
  such subsidies to any  public  corporation,  payable  only  with  moneys
  locally  appropriated  therefor from the general or other fund available
  for current expenses of such municipality; authorize the contracting  of
  indebtedness  for  the  purpose  of providing moneys out of which it may
  make or contract to make or authorize to be made or contracted loans  by
  the  state  to  any city, town, village or public corporation; authorize
  any city, town or village to make or  contract  to  make  loans  to  any
  public corporation; authorize any city, town or village to guarantee the
  principal  of  and  interest  on,  or only the interest on, indebtedness
  contracted by a public corporation; authorize and provide for  loans  by
  the  state and authorize loans by any city, town or village to or in aid
  of corporations regulated by law as to  rents,  profits,  dividends  and
  disposition  of  their  property  or franchises and engaged in providing
  housing facilities or nursing home accommodations; authorize  any  city,
  town  or  village  to  make  loans  to  the  owners of existing multiple
  dwellings for the rehabilitation and improvement thereof  for  occupancy
  by  persons  of  low  income  as  defined by law; grant or authorize tax
  exemptions in whole or in part, except that no  such  exemption  may  be
  granted  or  authorized for a period of more than sixty years; authorize
  cooperation with and the acceptance of aid from the United States; grant
  the power of eminent domain to any city, town or village, to any  public
  corporation  and  to  any  corporation  regulated  by  law  as to rents,
  profits, dividends and disposition of its  property  or  franchises  and
  engaged in providing housing facilities.
    As  used in this article, the term "public corporation" shall mean any
  corporate governmental agency (except a county or municipal corporation)
  organized pursuant to law to accomplish  any  or  all  of  the  purposes
  specified in this article.