Laws of New York (Last Updated: November 21, 2014)

Section 74. Restrictions on additional subsidies

Latest version.

No subsidy, in addition
  to any periodic subsidy originally contracted for in aid of any  project
  or  projects, shall be paid by the state to a municipality or authority,
  acting as an instrumentality thereof, for the purpose of  enabling  such
  municipality  or  authority  to  remedy  an  actual  default or avoid an
  impending default in the payment of principal or interest  on  any  loan
  which  has  been  theretofore  made by the state to such municipality or
  authority pursuant to this chapter.

                    
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