2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 3 - Local Obligations: Authorization Thereof › 39.00 - Tax Anticipation Note Resolution, Revenue Anticipation Note Resolution and Urban Renewal Note Resolution; Form and Contents.

§  39.00  Tax  anticipation note resolution, revenue anticipation note
resolution and urban renewal note  resolution;  form  and  contents.  a.
Whenever   the  finance  board  shall  authorize  the  issuance  of  tax
anticipation notes, revenue anticipation notes or urban  renewal  notes,
or the renewal of such notes, it shall do so by a "tax anticipation note
resolution",  "a  revenue  anticipation  note  resolution"  or an "urban
renewal note resolution", as the case may be. Each such resolution shall
be properly dated and shall bear a title which will indicate the type of
note to  which  it  relates.  Whenever  any  such  note  has  been  duly
authorized  by  a  chief  fiscal  officer the certificate required to be
filed by such officer pursuant to section 30.00 of  this  chapter  shall
bear a title which will indicate the type of note to which it relates.
b.  A  tax  anticipation  note  resolution,  revenue anticipation note
resolution or  an  urban  renewal  note  resolution  shall  contain,  in
substance, the following provisions:
1. A statement that such notes are issued in anticipation of:
(a) The collection of real estate taxes or assessments, in the case of
tax anticipation notes;
(b)  The  collection  of  revenues  other  than  real  estate taxes or
assessments, in the case of revenue anticipation notes; or
(c) The receipt of moneys from (1) the sale of real property,  or  any
interest  therein,  acquired  for  or  incidental  to  an  urban renewal
project; or (2) from the United States government pursuant to title  one
of  the  federal housing act of nineteen hundred forty-nine, as amended;
or (3) from the state of New York pursuant to the general municipal law;
or from any or all such sources, in the case of urban renewal notes.
2. (a) In the case of tax anticipation notes:
(1) If such taxes or assessments were levied or are to be levied for a
fiscal year, a statement of the fiscal year  for  which  such  taxes  or
assessments were levied or are to be levied, or
(2)  If  such notes are to be issued in anticipation of the collection
of assessments levied for a capital improvement and to be collected in a
single installment,  and,  if  such  assessments  have  been  levied,  a
statement of the date of the levy of such assessments, or
(3)  If  such notes are to be issued in anticipation of the collection
of an  installment  of  assessments  which  are  levied  for  a  capital
improvement  and which are to be collected in several installments, and,
if such installment of assessments has been levied, a statement  of  the
date on which such installment is due and payable.
(b)  In  the  case  of  revenue anticipation notes, a statement of the
fiscal year in which such revenues are due and payable.
3. (a) In the case  of  tax  anticipation  notes,  if  such  taxes  or
assessments have been levied, a statement of the amount of such taxes or
assessments   remaining   uncollected   against  which  such  notes  are
authorized to be issued.
(b) In the case of revenue anticipation  notes,  a  statement  of  the
amount  of  uncollected revenues against which such notes are authorized
to be issued.
(c) In the case of urban renewal notes, a statement of (1)  the  total
estimated cost of the urban renewal project as stated in the certificate
of  the  chief  fiscal officer of the municipality filed and approved in
the manner prescribed in paragraph d of section 25.10 of  this  chapter;
(2)  the  total amount of any and all advances, loans and grants made by
the United States government or by the state of New York in aid of  such
project  to  the  municipality  prior  to  and including the date of the
issuance of any such note or notes; (3) the amount of any and all  local
grants-in-aid  made  or  to  be made for such project; and (4) the total
amount of such notes outstanding for such project.
4. In the case of urban renewal notes,  a  statement  identifying  the
particular urban renewal project with respect to which such notes are to
be issued.
5. A statement of the amount of such notes to be issued.
6. A statement of the period of maturity on such notes.
7. (a) In the case of tax anticipation notes issued in anticipation of
the  collection  of  taxes or assessments which have been levied, or the
renewals thereof, a statement that the date of maturity  of  such  notes
shall  not  extend beyond the close of the applicable period provided in
section 24.00 of this chapter for the maturity of such notes.
(b) In the case of revenue anticipation notes, if such notes are to be
issued in renewal of  similar  notes,  a  statement  that  the  date  of
maturity  of  such  notes  shall not extend beyond the expiration of the
second fiscal year succeeding the fiscal year  in  which  such  original
notes were issued.
(c) In the case of urban renewal notes, a statement whether such notes
are renewal notes and, if they are, the date of issuance of the original
notes.