§ 414. Competing undertakings not authorized. No municipality shall\nhave power under this article to construct any undertaking in\ncontravention of any act of the legislature of the state of New York\nwhereby the state of New York pledges to or agrees with the holders of\nany bonds issued or to be issued pursuant to said act that the state\nwill not authorize the construction of an undertaking which will be\ncompetitive with the project authorized by said act.\n
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