There is a newer version of the New York Consolidated Laws
2016 New York Laws
PBG - Public Housing
Article 4 - (Public Housing) STATE AID
76 - Pledge of subsidy.
NY Pub Hsg L § 76 (2016) What's This?
76. Pledge of subsidy. Payments under any contracts for periodic subsidies by the state may be pledged by an authority as security for loans obtained from any source for the project to which such periodic subsidies relate.
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