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

Section 95. Authorization to guarantee

Latest version.

A municipality is authorized to
  guarantee for a period not exceeding the probable life of a project, the
  principal of and interest on, or  only  the  interest  on,  indebtedness
  contracted  by  an  authority operating within the territorial limits of
  such municipality in connection with such project.

                    
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