§ 466. Town of Southampton housing authority. A municipal housing
authority, to be known as the town of Southampton housing authority is
hereby created and established for the town of Southampton in the county
of Suffolk, 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 be 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 at the expiration of five
years subsequent to the time this section as hereby added takes effect,
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.