Source: https://www.ecode360.com/8685476
Timestamp: 2018-08-20 20:11:32
Document Index: 773823630

Matched Legal Cases: ['§ 51', '§ 51', '§ 51', '§ 51', '§ 51', '§ 51', '§ 106', '§ 106', '§ 165']

City of Schenectady, NY Finance
§ 51-1 Position of Director created.
§ 51-2 Facsimile signature of Director.
§ 51-3 Deputy Director: duties; bond.
§ 51-4 Assessment rolls: notices.
§ 51-5 Tax and assessment search authorization.
§ 51-7 Deposit of proceeds of capital notes.
Chapter 51: Finance
[HISTORY: Adopted by the Council of the City of Schenectady 2-9-1970 by Ord. No. 15274.[1]Amendments noted where applicable.]
Capital budget process — See Ch. 13.
Bonds — See Ch. 14.
Claim releases and insurance — See Ch. 20.
Purchasing — See Ch. 62.
Editor's Note: The provisions of this chapter are derived from Chapter 2, Article IV, Secs. 2-77 through 2-82, and Chapter 2, Article I, Sec. 2-7, of the former Revised Ordinances, adopted 2-9-1970 by Ord. No. 15274.
Chapter 51 : Finance
The position of Director of Finance is hereby created.
The facsimile signature of the Director of Finance shall conform to the specimen as certified to the bank, trust company or banking institution by delivery to it of a certified copy of such signature.
A Deputy Director of Finance shall be designated, who, in case of the absence or disability of the Director of Finance or of a vacancy in that office, shall discharge the duties of that office until the Director of Finance returns, his disability ceases or the vacancy is filled, and he shall perform such other duties as may from time to time be prescribed by law or by ordinance of the Council or by the Mayor or the Director of Finance, not inconsistent with the provisions of law or ordinance. The Deputy Director of Finance, before entering upon the duties of his office, shall execute and file with the City Clerk an official undertaking in the penal sum as is now required by law.
The notice of publication by the Director of Finance of the receipt of assessment rolls for the payment of water rents and general City taxes shall have a heading not less than 1/2 inch in height containing, among other things, the following words: "water rents due" or "general City taxes due."
[Added 5-17-1971 by Ord. No. 15515; amended 1-5-1981 by Ord. No. 80-161; 11-30-1987 by Ord. No. 87-75]
The Director of Finance is hereby authorized to have tax and assessment searches made on any real estate in the City when application is made to him in writing, in accordance with Chapter 864 of the Laws of 1937. The fee for a complete search, whether it be extension or continuation of a search for any one piece of property, shall be $50.
[Added 4-2-1973 by Ord. No. 16032]
The Director of Finance shall impose the following service charges for receiving, handling and disbursing the following funds and coupons substituted by contractors in lieu of a retained cash percentage:
For all interest bearing securities submitted in accordance with § 106 of the General Municipal Law, 5% of the matured coupon amount shall be deducted from the City's payment to the contractor for the coupons.
For all interest bearing securities without coupons, 5% of the interest payable on such securities during the period held by the Director of Finance.
For all non-interest-bearing securities submitted in accordance with § 106 of the General Municipal Law, a twenty-five-dollar fee will be charged for each security submitted.
For securities exchanged for securities previously submitted, a flat fee of $10 per security shall be charged in addition to the above.
Pursuant to Subsection a of § 165.00 of the Local Finance Law, the proceeds, inclusive of premiums, of any capital notes of the City, if issued in amounts of $100,000 or less, and of any budget notes hereafter authorized need not be deposited in a special account but may be deposited and commingled by the Director of Finance with other funds of the City in any account of the City in any bank or trust company in which he is authorized to deposit funds of the City. Such power shall not be construed as authorizing the use of any such proceeds for an object or purpose other than that for which the obligations were issued.