NY Loc Fin L § 26.00 (2021)
2021 New York Laws LFN - Local Finance Article 2 - Local Indebtedness Title 2 - Local Obligations: Types Thereof 26.00 - Temporary Alternative Methods of Financing Snow and Ice Removal Expenses.

§  26.00  Temporary  alternative  methods  of  financing  snow and ice   removal expenses. a. Definitions. 1. With respect  to  any  municipality   which  has  a  calendar  fiscal year which commenced on the first day of   January, two thousand two, the terms "extraordinary  expenses  for  snow   and  ice  removal"  and  "such  extraordinary expenses", as used in this   section, shall mean the expenses incurred for the removal  of  snow  and   ice from the public thoroughfares and public places of such municipality   during  any  month  in  such  year up to and including June two thousand   three, in excess of the normal expenses which would have  been  incurred   for such purposes during such period, as determined by the finance board   of  such  municipality.  In  making  any such determination, the finance   board shall not include as a part of  such  extraordinary  expenses  the   salaries  and  wages  of regular employees, except for overtime work and   work on Sundays and holidays.2. With respect to any municipality which  has  a  fiscal  year  which   commenced  in  the  year  two  thousand two on or after the first day of   March in such year, the terms "extraordinary expenses for snow  and  ice   removal"  and  "such  extraordinary  expenses", as used in this section,   shall mean the expenses incurred for the removal of snow  and  ice  from   the  public  thoroughfares and public places of such municipality during   such fiscal year,  in  excess  of  the  amounts  appropriated  for  such   purposes  in  the  annual  budget  for  such fiscal year, or, if no such   appropriations  were  made,  then  in  excess  of  the  average  of  all   expenditures  for such purposes during each of the five preceding fiscal   years, as determined by the finance board of such municipality.b. The financing of snow and ice removal expenses by the  issuance  of   serial  bonds. 1. The finance board of a municipality which has a fiscal   year which commenced on the first day of January, two thousand two,  may   authorize  the issuance of serial bonds in the two thousand three fiscal   year to provide for the payment of all  or  part  of  the  extraordinary   expenses  of  snow and ice removal incurred during any month in the year   two thousand two up  to  and  including  June  two  thousand  three,  to   reimburse  any  fund or account of the municipality from which monies to   pay such extraordinary expenses have been advanced or to  replenish  any   fund  or  account  of  the  municipality  from  which such extraordinary   expenses  have  been  paid,  or  any  combination  of   such   purposes,   notwithstanding that there may have been lack of statutory authority for   any  such  advance  or  payment from such fund or account. The period of   probable usefulness of such objects or purposes shall be five years. Any   such serial bonds shall have a maximum maturity of over two  years,  but   the date of final maturity of any such issue shall not extend beyond the   first  day  of  March  in the year two thousand eight as to counties and   towns and shall not extend beyond the thirty-first day of December,  two   thousand eight, as to other municipalities.2.  The  finance board of a municipality which has a fiscal year which   commenced in the year two thousand two on or  after  the  first  day  of   March  in  such  year may authorize the issuance of serial bonds in such   fiscal year, or in its next succeeding fiscal year, to provide  for  the   payment  of  all  or  part of the extraordinary expenses of snow and ice   removal incurred in such fiscal year, to reimburse any fund  or  account   of the municipality from which monies to pay such extraordinary expenses   have  been  advanced  or  to  replenish  any  fund  or  account  of  the   municipality from which such extraordinary expenses have been  paid,  or   any  combination  of  such purposes, notwithstanding that there may have   been lack of statutory authority for any such advance  or  payment  from   such  fund or account. The period of probable usefulness of such objects   or purposes shall be five years. Any such  serial  bonds  shall  have  a   maximum  maturity  of  over two years, but the date of final maturity of    any such issue shall not extend beyond the thirty-first day of December,   two thousand seven.3.  Notwithstanding  the  foregoing provisions of subdivisions one and   two of this paragraph, serial bonds may not be authorized to  be  issued   for  the purpose of financing any portion of such extraordinary expenses   described in such subdivisions which heretofore have been  or  hereafter   shall  be financed by the issuance of budget notes or for the purpose of   redeeming any such notes.4. Except as provided in this section, such serial bonds and any  bond   anticipation  notes  in  anticipation thereof, shall be authorized, sold   and issued in the manner provided by this chapter. Any bond anticipation   notes issued in anticipation of such bonds shall,  for  the  purpose  of   determining  the  power  of  the  issuer to contract indebtedness and to   raise taxes upon real estate, be deemed to be serial bonds of  an  issue   having  a  maximum  maturity  of  more  than  two  years as described in   subdivision A of section five and in section ten of article eight of the   state constitution and for  the  purposes  of  (1)  paragraph  one-a  of   section  136.00 of this chapter, (2) section two hundred thirty-three of   the county law, (3) any general or special law applicable  to  counties,   cities and villages which relates to the raising of taxes on real estate   to  provide  for  the  payment  of  the interest on and the principal of   indebtedness, and (4) all laws relating to the financial  reports,  debt   statements   and   real   estate   tax   margin   computations  of  such   municipalities. The chief fiscal officer of any municipality issuing  or   renewing  such  bond  anticipation  notes  shall  immediately  after the   issuance or  renewal  thereof  notify  the  state  comptroller  of  such   issuance or renewal. The state comptroller may prescribe the form of any   such  notice  and  shall  furnish  such  forms to municipalities for the   purpose of making any such report.5. Capital notes may not be issued to finance any  object  or  purpose   for  which  serial  bonds  are  authorized to be issued pursuant to this   paragraph. The provisions of this paragraph shall not affect  the  power   of  any municipality described in paragraph a of this section to finance   all  or  part  of  any  such  extraordinary  expenses  pursuant  to  the   provisions  of  section  29.00  of  this  title  and paragraph c of this   section.6. Section 104.10 of this chapter shall not be applicable in  relation   to,  or  as the result of, the adoption of a bond resolution authorizing   the issuance of serial bonds pursuant to this paragraph. The  provisions   of  section 10.00, paragraph a of section 21.00 and any other section of   this chapter, or the provisions of any general, special  or  local  law,   which  would  restrict,  limit  or  prohibit  the issuance of such bonds   (except those enacted to conform with the state  constitution)  are,  to   the  extent  that  this section is utilized by a municipality, suspended   and made ineffective in so far as necessary to effectuate  the  purposes   of  this section; provided, however, that this paragraph shall not apply   to a city having a population of over one million  inhabitants,  if  the   legislature  at the request of such city enacts a law at the one hundred   eighty-fourth  annual  session   of   the   legislature   amending   the   administrative  code of such city in relation to facilitating payment of   certain unusual snow and ice removal expenses of the  city  incurred  in   its   current  fiscal  year  nineteen  hundred  sixty--nineteen  hundred   sixty-one.c. The financing of snow and ice removal expenses by the  issuance  of   budget  notes.  1.  If any municipality described in paragraph a of this   section has heretofore issued budget notes pursuant to the provisions of   subdivision two of paragraph a of section 29.00 of this title to provide   for the payment of extraordinary expenses of snow and  ice  removal,  as    defined in this section, the finance board, by resolution, may determine   that  such  notes  shall  be  deemed to have been issued pursuant to the   provisions of subdivision one of paragraph a of such  section  and  that   such  notes  so issued shall not thereafter be considered in determining   the power of such municipality to issue budget notes  pursuant  to  such   subdivision two.2.  If  any  municipality described in paragraph a of this section has   heretofore issued budget notes pursuant to the provisions of subdivision   one or two of paragraph a, or paragraph b,  of  section  29.00  of  this   title,  to provide for the payment of extraordinary expenses of snow and   ice removal, as defined in this section, the finance board may determine   that the provisions  of  paragraph  j  of  such  section  shall  not  be   applicable  in  relation to the maturity of such notes and (a) that such   notes shall mature in equal annual installments in two different  fiscal   years,  but the final maturity of such notes shall not extend beyond the   close of the second fiscal year immediately succeeding the year of their   issue, or (b) if the fiscal procedures applicable to  such  municipality   will  enable  the necessary budgetary appropriations for debt service to   be made and such appropriations to become  available,  that  such  notes   shall  mature  in  three  equal  annual  installments in three different   fiscal years, but the final maturity of any such notes shall not  exceed   three  years in accordance with the provisions of paragraph a of section   11.00 of this chapter which prescribes a period of  probable  usefulness   of  three  years  for  objects  or  purposes financed by the issuance of   budget notes. Such budget notes  which  mature  in  three  equal  annual   installments,  as  aforesaid,  shall, for the purpose of determining the   power of the issuer to contract indebtedness and to raise taxes on  real   estate,  be  deemed  to  be  serial  bonds  of an issue having a maximum   maturity of more than two years as described in subdivision A of section   five and in section ten of article eight of the state  constitution  and   for  the  purposes  of  (1)  paragraph  one-a  of section 136.00 of this   chapter, (2) section two hundred thirty-three of the county law, (3) any   general or special law applicable to counties, cities and villages which   relates to the raising of taxes  on  real  estate  to  provide  for  the   payment  of  the  interest on and the principal of indebtedness, and (4)   all laws relating to financial reports, debt statements and real  estate   tax  margin  computations  of  such municipalities. If the finance board   determines that such budget notes shall mature  in  three  equal  annual   installments,   as   aforesaid,   the   chief  fiscal  officer  of  such   municipality immediately after the adoption  of  the  resolution  making   such  determination  shall  file a copy of the resolution with the state   comptroller and shall immediately after the issuance or renewal of  such   notes  notify  the  state  comptroller  of such issuance or renewal. The   state comptroller may prescribe the form of any such  notice  and  shall   furnish  such forms to municipalities for the purpose of making any such   report.3. Notwithstanding any of the provisions  of  section  29.00  of  this   title,  the  finance board of a municipality described in paragraph a of   this section may authorize the issuance  of  budget  notes  pursuant  to   subdivision one of paragraph a, or paragraph b, of such section 29.00 to   provide  for the payment of all or part of the extraordinary expenses of   snow and ice removal, as defined in this section, to reimburse any  fund   or   account   of  the  municipality  from  which  monies  to  pay  such   extraordinary expenses have been advanced or to replenish  any  fund  or   account  of the municipality from which such extraordinary expenses have   been paid, or any combination of  such  purposes,  notwithstanding  that   there  may have been lack of statutory authority for any such advance or   payment from such fund or account. The finance board may determine  that    such  notes  may mature in the manner provided in paragraph j of section   29.00, or, if the fiscal procedures applicable to such municipality will   enable the necessary budgetary appropriations for  debt  service  to  be   made  and such appropriations to become available, that such notes shall   mature in two equal annual installments in two different  fiscal  years,   but  the  final maturity of such notes shall not extend beyond the close   of the second fiscal year  immediately  succeeding  the  year  of  their   issue.4.  If a municipality which had a calendar fiscal year which commenced   on the first day of January, two thousand two, issued  budget  notes  in   such  year  pursuant to the provisions of section 29.00 of this title to   finance the payment of expenses of removal  of  snow  and  ice  in  such   fiscal  year and if such budget notes, under the provisions of paragraph   j of such section, could not be renewed after the close  of  its  fiscal   year  which  would  end in the year two thousand three, then and in such   event the finance board of such  municipality  may  determine  that  the   provisions  of  paragraph  j  of such section shall not be applicable in   relation to the maturity of such notes and that such notes shall  mature   in  equal  annual  installments  in the years two thousand three and two   thousand four.5. If a municipality which had a calendar fiscal year which  commenced   on  the  first day of January, two thousand two, authorized the issuance   of budget notes in such year pursuant to the provisions of section 29.00   of this chapter to finance the payment of expenses of  removal  of  snow   and  ice  in such year and if such notes were not issued in the year two   thousand two, but were or are to be issued  in  the  year  two  thousand   three,  and if such budget notes, under the provisions of paragraph j of   such section, could not be renewed after the close of  its  fiscal  year   which  would  end  in  the  year two thousand four, then and in any such   event the finance board of such  municipality  may  determine  that  the   provisions  of  paragraph  j  of such section shall not be applicable in   relation to the maturity of such notes and that such notes shall  mature   in  equal  annual  installments  in  the years two thousand four and two   thousand five.6. Any resolution of a  finance  board  of  a  municipality  making  a   determination  pursuant  to subdivision one, two, three, four or five of   this paragraph may be adopted by a majority vote of the  finance  board,   notwithstanding  the  provisions of paragraph d of section 40.00 of this   chapter.7. The provisions of subdivision four of paragraph c of section  40.00   and  of  any  other  section  of  this chapter and the provisions of any   general, special or local law which would restrict,  limit  or  prohibit   the  renewal of budget notes as provided in this paragraph (except those   enacted to conform with the state constitution) are, to the extent  that   this   section  is  utilized  by  a  municipality,  suspended  and  made   ineffective in so  far  as  necessary  to  effectuate  the  objects  and   purposes of this section.d.  Separability.  If any clause, sentence, subdivision, paragraph, or   part of this section be adjudged by any court of competent  jurisdiction   to  be invalid, such judgment shall not affect, impair or invalidate the   remainder thereof, but shall be confined in its operation to the clause,   sentence, subdivision, paragraph, or part thereof directly  involved  in   the controversy in which such judgment shall have been rendered.