Section 514. Village of Lake Placid housing authority

A municipal housing
  authority, to be known as the Lake Placid housing  authority  is  hereby
  created  and established for the village of Lake Placid in the county of
  Essex 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, be perpetual  in  duration  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 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.