N.Y. PBA Law § 3014

§ 3014. Conditions on payment of funds to or purchase of obligations\nof municipality. 1. A corporation shall require, in connection with any\npayment of funds to, or purchase or exchange of the obligations of, the\nmunicipality being assisted, or the extension of other benefits thereto,\nthat such municipality agree to observe such conditions with respect to\nexpenditure control, record keeping, accounting, budgeting, financial\nmanagement and other practices of such municipality as may be set forth\nin or permitted under the special law creating such corporation. Such\nagreement may provide such remedies for failure to observe such\nconditions as shall be necessary or desirable to accomplish the purposes\nof this article and such special law and are authorized or permitted\nthereunder.\n 2. Notwithstanding the provisions of any other law, general, special\nor local, inconsistent with the provisions hereof, any municipality may\nsell notes and bonds authorized to be issued pursuant to the local\nfinance law by private sale to the corporation or to receive moneys from\nthe corporation as herein provided and such municipality is hereby\nauthorized to agree to and undertake any agreements made pursuant to the\nterms hereof.\n