§ 426. Albany Housing Authority. A municipal housing authority, to be\nknown as the Albany Housing Authority, is hereby created and established\nin the city of Albany in the county of Albany for the accomplishment of\nany or all of the purposes specified in article eighteen of the\nconstitution of the state of New York. It shall constitute a body\ncorporate and politic and consist of five members. It shall have the\npowers and duties now or hereafter conferred by this chapter upon\nmunicipal housing authorities. It shall be organized in the manner\nprescribed by and subject to the provisions of this chapter, and the\nauthority, its members, officers and employees and its operations and\nactivities shall in all respects be governed by the provisions of this\nchapter. Such authority shall have perpetual duration; provided,\nhowever, that if, at the expiration of three years subsequent to the\ntime this section as hereby amended takes effect, there shall be\noutstanding no bonds or other obligations of such authority, theretofore\nissued for any of the purposes authorized in this chapter, then its\ncorporate existence shall thereupon terminate and such authority shall\nthereupon be deemed to be and shall be dissolved.\n
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