§ 409. Hempstead Housing Authority. A municipal housing authority, to
be known as the Hempstead Housing Authority, is hereby created and
established for the village of Hempstead in the county of Nassau for the
accomplishment of any or all of the purposes specified in article
eighteen of the constitution of the state of New York. It shall
constitute a body corporate and politic and consist of five members. It
shall have the powers and duties now or hereafter conferred by this
chapter upon municipal housing authorities. It shall be organized in the
manner prescribed by and subject to the provisions of this chapter, and
the authority, its members, officers and employees and its operations
and activities shall in all respects be governed by the provisions of
this chapter. Such authority shall have perpetual duration; provided,
however, that if on May first, nineteen hundred forty-seven, there shall
be outstanding no bonds or other obligations of such authority
theretofore issued for any of the purposes authorized in this chapter,
then its corporate existence shall thereupon terminate and such
authority shall thereupon be deemed to be and shall be dissolved.