There is a newer version of the New York Consolidated Laws
2006 New York Code - Procedure For Municipal Aid.
§ 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 such municipality. The provisions of this section shall not apply to any project commenced prior to the date of enactment of this chapter.
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