New York Private Housing Finance Law Section 208 - Consideration for issuance of stock, bonds or income debentures.

   208.   Consideration  for  issuance  of  stock,  bonds  or  income
  debentures. No redevelopment corporation shall  issue  stock,  bonds  or
  income  debentures,  except  for money or property actually received for
  the use and lawful purposes of  the  corporation  or  services  actually
  performed for the corporation.

Last modified: February 3, 2019