§ 458-a. Mount Kisco housing authority. 1. A municipal housing authority, to be known as the Mount Kisco housing authority is hereby recreated, re-established and continued from February twenty-second, nineteen hundred fifty-nine for the village of Mount Kisco in the county of Westchester for the accomplishment of any or all of the purposes specified in article eighteen of the constitution of the state of New York and is hereby constituted and declared to be a body corporate and politic, consisting of five members, with all the powers, rights and duties now or hereafter conferred by the public housing law upon municipal housing authorities. It shall be subject to the provisions of the public housing law, and the authority, its members, officers and employees and its operations and activities shall in all respects be governed by the provisions of the public housing law. Such authority shall have perpetual duration; provided, however, that if at the expiration of five years subsequent to April thirtieth, nineteen hundred sixty-three, there shall be outstanding no bonds, notes or other obligations of such authority theretofore issued for any of the purposes authorized in the public housing law, then its corporate existence shall thereupon terminate and such authority shall thereupon be deemed to be and shall be dissolved.

2. Notwithstanding any general, special or local law, the village of Mount Kisco, Westchester county, is hereby authorized and empowered to transfer and convey to the Mount Kisco housing authority, and such authority is hereby authorized and empowered to acquire all the right, title, interest and assets, including contractual rights and obligations, held by the village with respect to a public housing project in said village, identified and numbered as NY-38-1, and for that purpose such village and authority are hereby authorized and empowered to make, execute and deliver any instrument and perform any act necessary or convenient, and upon such transfer, conveyance and delivery all the rights, duties, liabilities and responsibilities of the village relative to such housing project, including any contract with the federal public housing administration, shall be assumed by and devolve upon the Mount Kisco housing authority.

3. All proceedings and acts of the Mount Kisco housing authority and the village of Mount Kisco, Westchester county, and all contracts, agreements, obligations and undertaking heretofore entered into by such Mount Kisco housing authority or village relating to the public housing project in the village identified and known as Public Housing Administration Project number NY-38-1 are hereby legalized, validated, ratified and confirmed in all respects, notwithstanding any defect or irregularity therein or want of statutory authority.