§ 2. For and in aid of such purposes, notwithstanding any provision in
any other article of this constitution, but subject to the limitations
contained in this article, the legislature may: make or contract to make
or authorize to be made or contracted capital or periodic subsidies by
the state to any city, town, village, or public corporation, payable
only with moneys appropriated therefor from the general fund of the
state; authorize any city, town or village to make or contract to make
such subsidies to any public corporation, payable only with moneys
locally appropriated therefor from the general or other fund available
for current expenses of such municipality; authorize the contracting of
indebtedness for the purpose of providing moneys out of which it may
make or contract to make or authorize to be made or contracted loans by
the state to any city, town, village or public corporation; authorize
any city, town or village to make or contract to make loans to any
public corporation; authorize any city, town or village to guarantee the
principal of and interest on, or only the interest on, indebtedness
contracted by a public corporation; authorize and provide for loans by
the state and authorize loans by any city, town or village to or in aid
of corporations regulated by law as to rents, profits, dividends and
disposition of their property or franchises and engaged in providing
housing facilities or nursing home accommodations; authorize any city,
town or village to make loans to the owners of existing multiple
dwellings for the rehabilitation and improvement thereof for occupancy
by persons of low income as defined by law; grant or authorize tax
exemptions in whole or in part, except that no such exemption may be
granted or authorized for a period of more than sixty years; authorize
cooperation with and the acceptance of aid from the United States; grant
the power of eminent domain to any city, town or village, to any public
corporation and to any corporation regulated by law as to rents,
profits, dividends and disposition of its property or franchises and
engaged in providing housing facilities.

As used in this article, the term "public corporation" shall mean any
corporate governmental agency (except a county or municipal corporation)
organized pursuant to law to accomplish any or all of the purposes
specified in this article.