N.Y. LFN Law § 172.00 — New York Code / Act LFN / Article 3 / Section 172.00
Authorizations continued
Status: in_force

§ 172.00 Authorizations continued.  a. Any authorization adopted by a\nmunicipality, school district or district corporation prior to the\neffective date of this chapter for an object or purpose for which bonds,\nnotes, certificates or other evidences of indebtedness are to be issued\nshall not lapse or terminate or be otherwise affected by reason of any\nof the provisions contained in this chapter and bonds, notes,\ncertificates or other evidences of indebtedness may be authorized, sold\nor issued to finance such object or purpose in accordance with the\nprovisions of law in force prior to the effective date of this chapter,\nor in accordance with the provisions of this chapter. Such obligations\nmay be renewed in accordance with the provisions of law in force prior\nto the effective date of this chapter, or in accordance with the\nprovisions of this chapter.\n  b. Any authorization adopted by a municipality, school district or\ndistrict corporation prior to the effective date of this chapter for the\nissuance of bonds, notes, certificates or other evidences of\nindebtedness or for the disposition or expenditure of the proceeds\nthereof, shall not lapse or terminate or be otherwise affected by reason\nof any of the provisions of this chapter and bonds, notes, certificates\nor other evidences of indebtedness authorized to be issued thereunder\nmay be authorized, sold, issued or renewed and the proceeds thereof may\nbe disposed of or expended in accordance with the provisions of law in\nforce prior to the effective date of this chapter, or in accordance with\nthe provisions of this chapter.\n  c. Any municipality, school district or district corporation instead\nof issuing tax anticipation notes or revenue anticipation notes in\naccordance with the provisions of this chapter may issue bonds, notes,\ncertificates or other evidences of indebtedness, in accordance with the\nprovisions of law in force prior to the effective date of this chapter,\nin anticipation of the collection of (1) real estate taxes or\nassessments levied for a fiscal year which commenced prior to the\neffective date of this chapter and will end subsequent thereto and prior\nto the expiration of one year from the effective date of this chapter,\n(2) real estate taxes returned or certified during such fiscal year, or\n(3) taxes other than real estate taxes, or other revenues to become due\nduring such fiscal year. Such obligations, and obligations issued prior\nto the effective date of this chapter, in anticipation of the collection\nof real estate taxes, assessments, taxes other than real estate taxes,\nor other revenues, may be renewed from time to time in accordance with\nthe provisions of law in force prior to the effective date of this\nchapter, or in accordance with the provisions of this chapter.\n  d. If a municipality, fire district or school district having an\naggregate assessed valuation of real property of one hundred thousand\ndollars or over, sells bonds in accordance with the provisions of a law\nother than this chapter as provided in paragraph a, b and c of this\nsection, and if such bonds are required to be sold at public sale, it\nshall comply with the provisions of section 109.00 of this chapter as to\nthe filing of a verified debt statement.\n