Section 464. Geneva Housing Authority

A municipal housing authority, to be
  known as the Geneva Housing Authority, is hereby created and established
  for  the city of Geneva in the county of Ontario, 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.