Increases the maximum aggregate principal amount of the outstanding notes and bonds of the New York City Housing Development Corporation from twenty.

This bill amends the private housing finance law to increase the maximum aggregate principal amount of the outstanding notes and bonds of the New York City Housing Development Corporation from twenty billion dollars to twenty-two billion dollars. The bill specifies that the corporation shall not issue bonds if such issuance shall cause the maximum reserve fund requirement to exceed thirty million dollars unless prior to such issuance the Senate and Assembly shall have adopted a concurrent resolution. The act takes effect immediately.

Increases the maximum aggregate principal amount of the outstanding notes and bonds of the New York City Housing Development Corporation from twenty.

This bill amends the private housing finance law to increase the maximum aggregate principal amount of the outstanding notes and bonds of the New York City Housing Development Corporation from twenty billion dollars to twenty-two billion dollars. The bill specifies that the corporation shall not issue bonds if such issuance shall cause the maximum reserve fund requirement to exceed thirty million dollars unless prior to such issuance the Senate and Assembly shall have adopted a concurrent resolution. The act takes effect immediately.