N.Y. PBG Law § 466

§ 466. Town of Southampton housing authority. A municipal housing\nauthority, to be known as the town of Southampton housing authority is\nhereby created and established for the town of Southampton in the county\nof Suffolk, for the accomplishment of any or all of the purposes\nspecified in article eighteen of the constitution of the state of New\nYork. It shall constitute a body corporate and politic, and consist of\nfive members. It shall have the powers and duties now or hereafter\nconferred by this chapter upon municipal housing authorities. It shall\nbe organized in the manner prescribed by and be subject to the\nprovisions of this chapter, and the authority, its members, officers and\nemployees and its operations and activities shall in all respects be\ngoverned by the provisions of this chapter. Such authority shall have\nperpetual duration; provided, however, that if at the expiration of five\nyears subsequent to the time this section as hereby added takes effect,\nthere shall be outstanding no bonds or other obligations of such\nauthority theretofore issued for any of the purposes authorized in this\nchapter, then its corporate existence shall thereupon terminate and such\nauthority shall thereupon be deemed to be and shall be dissolved.\n