NY Loc Fin L § 102.00 (2021)
2021 New York Laws LFN - Local Finance Article 2 - Local Indebtedness Title 8 - Limitations on the Power to Contract Indebtedness 102.00 - Consent by Cities, Towns and Villages to the Contracting of Indebtedness by Certain District Corporations.

§  102.00  Consent by cities, towns and villages to the contracting of indebtedness by certain district corporations.    a.  As  used  in  this section,  the  term  "district  corporations"  shall  mean  any district corporation other than a fire district, or a  river  improvement,  river regulating,   or   drainage   district,  established  by  or  under  the supervision of the department of conservation.   b. A district corporation, as defined in paragraph a of this  section, shall  not  contract  any  indebtedness unless it shall first secure the consent of the city or village within which, or of the town  within  any unincorporated area of which, it is situated in whole or in part.   c.  Whenever  any  district  corporation, as defined in paragraph a of this section, shall desire to contract indebtedness,  it  shall  file  a petition in the office of the chief fiscal officer of each city, town or village   affected,   for  the  consent  of  such  municipality  to  the contracting of such indebtedness. Such petition shall be executed by the finance board  of  such  district  corporation  and  shall  contain  the following items:   1.   The   amount   of   outstanding  indebtedness  of  such  district corporation, the purposes for which it was contracted and the manner  in which such indebtedness will be paid.   2. The amount of outstanding indebtedness of such district corporation contracted on or after January first, nineteen hundred thirty-nine, less the total of those amounts included therein which, if contracted by such city,   town   or  village,  would  be  listed  as  deductions  by  such municipality, pursuant to section 136.00 of this chapter,  in  the  debt statement  of  total  net indebtedness prepared pursuant to title ten of article two of this chapter. The amounts so deducted shall be itemized.   3. The amount of the indebtedness proposed to be  contracted  by  such district  corporation,  the purpose for which and the manner in which it will be contracted. If only part  of  such  a  district  corporation  is situated  within  such  city, village or the unincorporated area of such town,  the  petition  shall  state  the  proportionate  amount  of  such indebtedness  which  would  be  allocated to such city, village or town, pursuant to the procedure set forth in section 120.00 of  this  chapter, regardless  of  whether such indebtedness would or would not be included in ascertaining the power of such municipality to contract  indebtedness if contracted by such municipality.   4.  The  manner in which funds will be provided for the payment of the proposed indebtedness.   5. A description of the  real  property  within  such  city,  town  or village  subject  to  the  levy of taxes or benefit assessments by or on behalf of such petitioning corporate district.   6. The receipts and expenditures of such district corporation for  the latest completed fiscal year thereof.   d. Immediately after receipt of the petition, the chief fiscal officer of  such  city,  town or village shall prepare a certificate which shall contain:   1. The average full valuation and the most recent  assessed  valuation of  such  city,  town  or village and the average full valuation and the most recent assessed valuation of the real property therein  subject  to the  levy  of  taxes  or  benefit  assessments  by  or on behalf of such petitioning district corporation.   2. A statement of the debt of such city, town or village, prepared  in the  manner set forth in title ten of article two of this chapter, as of a date  not  more  than  thirty  days  previous  to  the  date  of  such certificate,  except that in a city containing more than one county such statement shall be prepared as of  a  date  not  more  than  sixty  days previous to the date of such certificate.    3.  The  amount  of  indebtedness  proposed  to  be  contracted by the petitioning district corporation or if such district corporation is  not wholly  contained  within such city, village, or the unincorporated area of such town, the proportionate amount of such indebtedness which  would be allocated to such city, village or town pursuant to the procedure set forth  in  section  120.00  of  this chapter, regardless of whether such indebtedness would or would not be included in ascertaining the power of such municipality to contract indebtedness,  and  the  percentage  which such  proposed indebtedness or proportionate amount thereof, as the case may be, bears to  (a) The average full valuation of such city, town or village and  (b) The average full valuation of the real property within such  city, town  or  village subject to the levy of taxes or benefit assessments by or on behalf of the petitioning district corporation.   e. The finance board of each such city, town or  village  may  require any  officer,  board  or  agency of such municipality or of the district corporation to furnish such additional data and information  in  his  or its  possession  as  such  finance board deems necessary to enable it to make its decision as to whether or not to grant the  consent  petitioned for.   f. The chief fiscal officer shall present the petition of the district corporation  to the finance board of such city, town or village together with his certificate at the next regular meeting of  such  board  to  be held  after  the  preparation of his certificate or at a special meeting thereof called for the purpose of fixing a time and place for  a  public hearing  on  such  petition.  Upon  presentation  of  the  petition  and certificate, the finance board of such city, town or village shall adopt a resolution fixing a time and place for  a  public  hearing  upon  such petition  and shall cause a notice thereof to be published at least once in the official newspaper or newspapers  of  such  municipality,  or  if there  be  no such newspaper or newspapers, then in a newspaper having a general circulation in such city, town or village. The first publication thereof shall be not less than ten days nor more than twenty days before the day designated therein for the hearing. Such  notice  shall  specify the  purpose  of  the  hearing  and  the  time when and place where such finance board will meet to consider such petition.  It  shall  also  set forth  in full the certificate of the chief fiscal officer of such city, town or village. Such  publication  shall  be  at  the  expense  of  the petitioning district corporation.   g.  After  a public hearing held upon notice as hereinbefore provided, the consent of such city, town or village may be granted by at  least  a two-thirds  vote  of  the voting strength of such finance board. If such finance board shall consent to the contracting  of  indebtedness  in  an amount  which  would  increase  the  indebtedness  of such city, town or village by three per centum of the average full valuation thereof,  such action shall:   1.  In  the case of a city, be subject to a permissive referendum if a procedure for a permissive referendum shall have been adopted  by  local law pursuant to section 34.00 of this chapter.   2.  (a)  In  the  case  of  a town of the first class, be subject to a permissive referendum in the manner provided in section  35.00  of  this chapter.  (b)  In  the  case  of  a  town  of  the second class, be subject to a mandatory referendum in the manner provided in article six of  the  town law.   3.  In the case of a village, be subject to a permissive referendum in the manner provided in section 36.00 of this chapter.    h. If all the cities, towns or villages affected  do  not  give  their consent  to  the petitioning district corporation in the manner provided in this  section,  such  corporate  district  shall  not  contract  such indebtedness.