2012 New York Consolidated Laws
PBA - Public Authorities
Article 10 - NEW YORK STATE MUNICIPAL ASSISTANCE CORPORATION ACT
Title 2 - (3010 - 3021) GENERAL PROVISIONS RELATING TO MUNICIPAL ASSISTANCE CORPORATIONS
3014 - Conditions on payment of funds to or purchase of obligations of municipality.

 
    §  3014.  Conditions on payment of funds to or purchase of obligations
  of municipality. 1. A corporation shall require, in connection with  any
  payment  of funds to, or purchase or exchange of the obligations of, the
  municipality being assisted, or the extension of other benefits thereto,
  that such municipality agree to observe such conditions with respect  to
  expenditure  control,  record  keeping, accounting, budgeting, financial
  management and other practices of such municipality as may be set  forth
  in  or  permitted  under the special law creating such corporation. Such
  agreement  may  provide  such  remedies  for  failure  to  observe  such
  conditions as shall be necessary or desirable to accomplish the purposes
  of  this  article  and  such special law and are authorized or permitted
  thereunder.
    2. Notwithstanding the provisions of any other law,  general,  special
  or  local, inconsistent with the provisions hereof, any municipality may
  sell notes and bonds authorized to  be  issued  pursuant  to  the  local
  finance law by private sale to the corporation or to receive moneys from
  the  corporation  as  herein  provided  and  such municipality is hereby
  authorized to agree to and undertake any agreements made pursuant to the
  terms hereof.