N.Y. Priv. Hous. Fin. Law § 25
Current through 2024 NY Law Chapter 553
The supervising agency or the commissioner, as the case may be, may permit stock or income debentures to be issued for working capital to be used in connection with such project to an amount not exceeding three per centum of the estimated project cost or the actual project cost, whichever is larger.
N.Y. Priv. Hous. Fin. Law § 25