New York Laws
Title 2 - 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.