§ 154. Control of rentals on authority projects. Subject to the terms of any loan or subsidy contract with a government, the power to fix rents on a project shall rest exclusively with the authority. But nothing in this chapter shall prevent an authority or municipality from establishing, in addition to all other operation and depreciation reserve funds, a reserve fund, or funds which may be applied in aid of the construction, operation or maintenance of other projects of such authority or municipality.

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Terms Used In N.Y. Public Housing Law 154

  • Contract: A legal written agreement that becomes binding when signed.