2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 10 - Statement of Debt-Contracting Power of Municipalities, Fire Districts and Certain School Districts › 135.00 - Statement of Total Debt; Inclusions in Ascertaining Gross Indebtedness.

§  135.00  Statement  of  total debt; inclusions in ascertaining gross
indebtedness.  a. The debt statement of a municipality, school  district
in  a  city  or  fire  district setting forth its total net indebtedness
shall contain the following items of indebtedness  for  the  purpose  of
showing  the gross indebtedness of such municipality, school district or
fire district:
1. Borrowings. The amount of outstanding obligations (including in the
case of a county, city, town, village, school district or fire  district
which  has  sold  obligations at a discount, only the original amount of
money actually received by such  county,  city,  town,  village,  school
district  or  fire  district,  irrespective  of  the  face amount of the
obligations at maturity) or other evidences of indebtedness representing
money borrowed by such municipality, school district  or  fire  district
and remaining unpaid.
2.  Real  property liabilities. The amount of outstanding indebtedness
on account of the acquisition of real property, the title to  which  has
vested  in  such  municipality, school district or fire district, or the
title to which it has agreed to  accept  pursuant  to  the  terms  of  a
contract  therefor,  and for which payment has not been made. The amount
of such indebtedness shall be ascertained pursuant to section 142.00  of
this chapter.
3.  Contract  liabilities.  The  amount  of  outstanding  indebtedness
arising from:
(a) The  amounts  payable  upon  contracts,  other  than  for  capital
improvements  or equipment, to the extent that the sums due or to become
due for the portion of such contracts which is performed  or  is  to  be
performed  during a fiscal year shall not have been paid or provided for
by a budgetary appropriation therefor for such fiscal year or in the tax
levy for such fiscal year.
(b) The amounts which are to become  due  pursuant  to  contracts  for
capital improvements or equipment.
4. Contract liabilities: housing guarantees; subsidies. In the case of
a  city, town or village, the amount of outstanding indebtedness of such
city, town or village
(a) On account of any contract for capital or periodic subsidies to  a
housing authority to be paid subsequent to the then current year.
(b)  Arising  from a guarantee of the principal of and interest on, or
only the interest on indebtedness contracted by a housing authority.
The amount of such  indebtedness  shall  be  ascertained  pursuant  to
section 143.00 of this chapter.
4-a.    Contract   liabilities,   guarantees   of   certain   hospital
indebtedness.  In  the  case  of  a  municipality,  the  amount  of  the
outstanding  indebtedness  of  the municipality arising from a guarantee
authorized by law pursuant to section seven of article seventeen of  the
state  constitution of the principal of and the interest on, or only the
interest on  indebtedness  contracted  by  an  eligible  corporation  or
association  for  the  purpose of providing hospital or other facilities
for the prevention, diagnosis  or  treatment  of  human  disease,  pain,
injury,  disability, deformity or physical condition, and for facilities
incidental or appurtenant thereto. The amount of such indebtedness shall
be ascertained pursuant to section 143.10 of this chapter.
5. State loans to certain housing authorities and municipalities.   In
the  case  of  a city, town or village, the amount of unpaid balances of
loans  by   the   state   to   (a)   housing   authorities   acting   as
instrumentalities  of  such city, town or village, or (b) municipalities
for urban renewal purposes.
6.  Judgments,  claims,  awards  and  determinations.  The  amount  of
outstanding  indebtedness  represented  by (a) judgments which have been

docketed and claims which have been  settled  or  compromised,  and  (b)
awards  and  sums  payable by such municipality, school district or fire
district pursuant to a determination by a court, or an officer, body  or
agency,  acting  in an administrative or quasi-judicial capacity, to the
extent to which such judgments, claims, awards and sums remain unpaid.
7. Indebtedness contracted by district corporations. In the case of  a
city  or  village  in which there is situated a district corporation, as
defined in paragraph a of section 102.00 of this chapter, or of  a  town
in  the  unincorporated  area  of  which  there  is  situated a district
corporation, as defined  in  paragraph  a  of  section  102.00  of  this
chapter,  the  amount  of  outstanding net indebtedness of such district
corporation which is allocated to such city, village or town pursuant to
section 120.00 of this chapter.
8. Pay-as-you-go financing. In the case of the city of  New  York  the
amount  deemed to be outstanding indebtedness pursuant to section 122.00
of this chapter.
b. There shall be included  as  the  indebtedness  of  a  city  school
district  the  amount  of  outstanding  city  indebtedness for education
purposes allocated to such school district by the state comptroller.
c. There shall be included as the indebtedness of a school district in
a  city  the  outstanding  indebtedness  or  an  appropriate  proportion
thereof,  as  the  case may be, of merged or annexed school districts as
provided in section 121.00 of this chapter.