Section 414. Competing undertakings not authorized

Latest version.

No municipality shall
  have  power  under  this  article  to  construct  any   undertaking   in
  contravention  of  any  act  of the legislature of the state of New York
  whereby the state of New York pledges to or agrees with the  holders  of
  any  bonds  issued  or  to be issued pursuant to said act that the state
  will not authorize the construction of  an  undertaking  which  will  be
  competitive with the project authorized by said act.

                    
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