§ 417. North Hempstead Housing Authority. A municipal housing
authority, to be known as the North Hempstead Housing Authority, is
hereby created and established 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 who shall be qualified electors of the town of
North Hempstead. 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. The town board of the town of North
Hempstead may appropriate and pay over to the authority out of general
town funds and as a town charge a sum not to exceed ten thousand dollars
for purposes of organization, administration, investigation, planning
and report. Such authority shall have perpetual duration; provided,
however, that if on May first, nineteen hundred fifty-one, 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.