* § 1556. Construction or purchase contracts. The authority shall let contracts for construction or purchase in the same manner, so far as practicable, as is provided by law for contracts of the village, except that where a construction contract involves an expenditure of five thousand dollars or less or a purchase contract involves an expenditure of three thousand dollars or less, such contract may be entered into without public letting. Nothing in this section shall be construed to limit the power of the authority to do any construction directly by the officers, agents and employees of the authority.

Terms Used In N.Y. Public Authorities Law 1556*2

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

* NB Dissolved December 31, 1977

* NB There are 2 § 1556's

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