reglab/statecodes huggingface dataset:
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 3 - Local Obligations: Authorization Thereof › 38.10 - Bond Anticipation Note Resolution; Form and Contents.

§   38.10  Bond  anticipation  note  resolution;  form  and  contents.
  Whenever  the  finance  board  shall  authorize  the  issuance  of  bond
  anticipation  notes  or  renewals  thereof,  it  shall  do so by a "bond
  anticipation note resolution." Each such resolution  shall  be  properly
  dated  and  shall  bear a title which will indicate that it relates to a
  bond anticipation note. Whenever a bond anticipation 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 that it relates to a bond anticipation
  note. Every such resolution shall contain, in substance,  at  least  the
  following provisions:
1.  A  statement  of  the  specific  object or purpose or the class of
  objects or purposes for which the obligations to be authorized  by  such
  resolution  are  to  be issued. Such specific object or purpose shall be
  described in  brief  and  general  terms  sufficient  for  a  reasonable
  identification.
2.  A  specific  reference  to  the  bond  resolution  or  resolutions
  authorizing the bonds in anticipation of the sale of  which  such  notes
  are to be issued.
3.  A  statement of the amount of bonds to be issued for such specific
  object or purpose or class of objects or purposes and whether such bonds
  are to be serial or sinking fund bonds.
4. A statement of the amount of such bond  anticipation  notes  to  be
  issued.
5.  A  statement  of  the  amount of bond anticipation notes which are
  outstanding which had been previously issued in anticipation of the sale
  of such bonds.
6. A statement as to whether or not such notes are renewal  notes  and
  if  they  are,  the  date  of  issuance  of the original notes issued in
  anticipation of the sale of such bonds.
7. A statement of the period of maturity of such notes.
8. A statement indicating whether or not  such  notes  are  issued  in
  anticipation of bonds for an assessable improvement.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 3 - Local Obligations: Authorization Thereof › 40.00 - Budget Note Resolution; Form and Contents; Authorization Thereof.

§  40.00  Budget  note  resolution;  form  and contents; authorization
  thereof. a. The issuance of budget notes or renewals  thereof  shall  be
  authorized  by a "budget note resolution." Each such resolution shall be
  properly dated and shall bear  a  title  which  will  indicate  that  it
  relates to a budget note.
b. Any municipality, school district or district corporation may adopt
  one  or  more budget note resolutions authorizing the issuance of budget
  notes for a specific object or purpose,  for  which  object  or  purpose
  budget  notes may be issued. In addition, any municipality may adopt one
  or more budget note resolutions authorizing the issuance of budget notes
  for a class of objects or purposes set forth in paragraph b, c, d  or  e
  of section 29.00 of this chapter.
c.  A budget note resolution shall contain, in substance, at least the
  following provisions:
1. A statement setting forth the facts and circumstances necessitating
  the issuance of such budget notes and the specific object or purpose  or
  the  class  of  objects  or  purposes  for  which the budget notes to be
  authorized by such resolution are to be issued and  stating  that  there
  are  no  other  funds  available  with  which to pay or provide for such
  object or purpose or class of objects or purposes.   Such  circumstances
  necessitating  the  issuance of budget notes and such specific object or
  purpose shall be described in brief and general terms sufficient  for  a
  reasonable identification.
2.  A  statement  of  the amount of budget notes to be issued for such
  specific object or purpose or class of objects or purposes.
3. A statement of the period of maturity of such notes.
4. If such notes are  to  be  issued  in  renewal  of  other  notes  a
  statement  that  the  date  of  maturity  of such notes shall not extend
  beyond the applicable period provided in section 29.00 of  this  chapter
  for the maturity of such notes.
d.  Every  budget  note  resolution  shall  be  adopted  by at least a
  majority vote of the voting strength of the finance board.   A  majority
  vote  shall  be  sufficient for the adoption of a resolution authorizing
  the renewal of any budget note.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 3 - Local Obligations: Authorization Thereof › 40.10 - Deficiency Note Resolution; Form and Contents; Authorization Thereof.

§  40.10  Deficiency note resolution; form and contents; authorization
  thereof. a. The issuance of deficiency notes or renewals  thereof  shall
  be  authorized  by  a "deficiency note resolution". Each such resolution
  shall be properly dated and shall bear a title which will indicate  that
  it relates to a deficiency note.
b. Any municipality, school district or district corporation may adopt
  one  or  more  deficiency  note  resolutions authorizing the issuance of
  deficiency notes for the  specific  object  or  purpose  of  covering  a
  deficiency  in  any  fund or funds arising from revenues being less than
  the amount estimated in the budget for the current fiscal  year  of  the
  municipality, school district or district corporation.
c.  A deficiency note resolution shall contain, in substance, at least
  the following provisions:
1. a statement of  the  specific  object  or  purpose  for  which  the
  deficiency notes to be authorized by such resolution are to be issued;
2.  a  statement  of  the amount of deficiency notes to be issued, the
  amount and the cause of the deficiency in revenues, and  that  no  other
  source of financing is available;
3. a statement of the period of maturity of such notes; and
4.  if  such  notes  are  to  be  issued  in renewal of other notes, a
  statement that the date of maturity  of  such  notes  shall  not  extend
  beyond  the  applicable period provided in section 29.20 of this article
  for the maturity of such notes.
d. Every deficiency note resolution shall be adopted  by  at  least  a
  majority  vote of the voting strength of the finance board. A two-thirds
  vote of the voting strength of the finance board shall  be  required  to
  adopt  a  deficiency note resolution authorizing the issuance of renewal
  notes or authorizing the issuance of deficiency notes  in  a  year  next
  succeeding a year in which deficiency notes were issued.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 3 - Local Obligations: Authorization Thereof › 41.00 - Repeal of Unexpended Authorizations.

§ 41.00 Repeal of unexpended authorizations. a. The finance board of:
1.  Any  municipality may at any time, by resolution, repeal or revoke
  in whole or in part (a) any resolution heretofore or  hereafter  adopted
  authorizing  the  issuance  of obligations, and (b) any certificate of a
  chief fiscal officer authorizing the issuance of obligations,  dated  on
  or after the effective date of this chapter, or
2.  Any  school district may, by resolution, repeal or revoke in whole
  or  in  part  (a)  any  resolution  heretofore  or   hereafter   adopted
  authorizing  the  issuance  of obligations, at any time after four years
  have elapsed from the date of the adoption of any such  resolution,  and
  (b)  any  certificate of a chief fiscal officer authorizing the issuance
  of obligations, dated on or after the effective date of this chapter, at
  any time after four years  have  elapsed  from  the  date  of  any  such
  certificate, or
3.  Any district corporation may at any time, by resolution, repeal or
  revoke in whole or in part (a) any resolution  heretofore  or  hereafter
  adopted authorizing the issuance of obligations, and (b) any certificate
  of a chief fiscal officer authorizing the issuance of obligations, dated
  on or after the effective date of this chapter,
  except  to  the  extent  that  any  indebtedness shall already have been
  contracted or encumbrances made thereunder for the object or purpose for
  which  such  resolution  or  certificate  authorizes  the  issuance   of
  obligations,  whether  or not the voting of a special tax or a tax to be
  collected in installments or the  approval  of  a  proposition  for  the
  expenditure of money, at a regular or special election or meeting, was a
  condition   precedent  to  the  adoption  of  such  resolution  or  such
  resolution subsequent to the adoption thereof was submitted and approved
  at a regular or special election or meeting.
b. Any resolution heretofore  or  hereafter  adopted  authorizing  the
  issuance  of  obligations,  or any certificate of a chief fiscal officer
  authorizing the issuance of obligations, dated on or after the effective
  date of this chapter, unless repealed or revoked at a prior date in  the
  manner  provided  in  paragraph a of this section, shall be deemed to be
  repealed ten years after the date it becomes effective,  except  to  the
  extent  that  any  indebtedness  shall  already  have been contracted or
  encumbrances made thereunder for the object or purpose  for  which  such
  resolution or certificate authorizes the issuance of obligations.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 3 - Local Obligations: Authorization Thereof › 41.10 - Contents of Notice of Meeting or Election Where Special Tax or Tax to Be Collected in Installments Is to Be Voted.

§ 41.10 Contents of notice of meeting or election where special tax or
  tax to be collected in installments is to be voted.  Where the voting of
  a  special  tax  or a tax to be collected in installments is a condition
  precedent  to  the  adoption  of  a  bond  resolution  or  capital  note
  resolution  and the bonds or capital notes are to be issued to finance a
  specific object or purpose, the notice of the meeting or the election at
  which such tax is voted must state the estimated maximum  cost  of  each
  item  of such specific object or purpose and the estimated total cost of
  all of the items.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 50.00 - Agency Prescribing Terms, Form and Contents of Obligations.

§  50.00  Agency  prescribing terms, form and contents of obligations.
  The finance board shall prescribe the terms, form and contents of  bonds
  and  notes.  However,  the finance board may, by resolution, delegate to
  the chief fiscal officer all or part of such power in relation to  every
  or  any  type  of  bond or note, in which event the chief fiscal officer
  shall exercise such power until the finance board, by resolution,  shall
  elect to reassume the same.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 51.00 - Terms, Form and Contents of Obligations.

§  51.00  Terms, form and contents of obligations. Every bond and note
  shall contain a statement of at least the following:
1. The type of obligation.
2. The amount of the obligation and the total amount of the  issue  of
  which the obligation is a part.
3. The date and maturity of the obligation.
4.  If  the  obligation  is  a  tax  anticipation  note  or  a revenue
  anticipation note, the fiscal year for which the taxes  were  levied  or
  are to be levied or in which the revenues are to become due and payable,
  as  the  case may be; if the obligation is a tax anticipation note to be
  issued in anticipation of the levy or collection of  assessments  for  a
  fiscal year or in anticipation of the collection of an installment of an
  assessment  for  a  capital  improvement, the fiscal year for which such
  assessments were levied or are to be levied or in which such installment
  becomes due, as the case may be.
* 5. The rate of interest or, in the case  of  obligations  bearing  a
  variable  rate  of interest, the procedure for calculating such variable
  rate of interest and the maximum rate of interest  which  such  variable
  rate notes may bear, together with the date or dates of payment thereof.
* NB Effective until July 15, 2024
* 5. The rate of interest and the date or dates of payment thereof.
* NB Effective July 15, 2024
6. The place or places of payment of principal and interest.
7. The medium of payment.
8.  An irrevocable pledge of the faith and credit of the municipality,
  school district or district corporation issuing the obligation  for  the
  payment thereof.
9. If the obligation is payable to bearer, whether it may be converted
  into  a  registered obligation; if the obligation is in registered form,
  whether it may be converted into a bearer obligation.
10. If the obligation may be called for redemption prior to  its  date
  of maturity, the terms and conditions under which such obligation may be
  redeemed.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 52.00 - Recital of Validity in Obligations.

§ 52.00 Recital of validity in obligations. Any obligation issued by a
  municipality, school district or district corporation may contain on its
  face a recital in substantially the following form:
"It  is  hereby  certified  and  recited that all conditions, acts and
  things required by the Constitution and statutes of  the  State  of  New
  York  to exist, to have happened and to have been performed precedent to
  and in the issuance of this (Here insert  type  of  obligation),  exist,
  have  happened  and  have  been  performed,  and that the issue of (Here
  insert type of obligations) of which this  is  one,  together  with  all
  other  indebtedness  of  such  (Here insert name of municipality, school
  district or district corporation) is within every debt and  other  limit
  prescribed by the Constitution and laws of such State."
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 54.20 - Funding of Capital Expenditures Duly Appropriated in the Capital Budget for the City of New York.

§  54.20  Funding  of  capital  expenditures  duly appropriated in the
  capital budget for the city of New York. Subject to  the  provisions  of
  the  New York State Financial Emergency Act for The City of New York but
  notwithstanding any other law to the contrary, to facilitate the funding
  of capital expenditures duly appropriated in the capital budget for  the
  city  of  New  York,  the  finance board of such city shall establish an
  account or accounts to receive amounts  duly  appropriated  for  capital
  purposes  in  the  expense  budget of such city. Any payment pursuant to
  such an expense budget appropriation shall be made prior  to  completion
  of  the  annual audit of the fiscal year in which such appropriation was
  made. At its discretion, the finance board  of  such  city  shall  apply
  amounts  from any such account to capital expenditures duly appropriated
  in the capital budget of such city.
The moneys in any such account shall be deposited and secured  in  the
  manner provided by section ten of the general municipal law. The finance
  board  or  the chief fiscal officer of such municipality, if the finance
  board shall delegate such duty to him, may invest  the  moneys  in  each
  such  fund  in  the  manner  provided  in  section eleven of the general
  municipal law. Any interest earned or  capital  gains  realized  on  the
  moneys  so deposited or invested shall accrue to and become part of such
  account. The separate identity of  such  account  shall  be  maintained,
  whether its assets consist of cash or investments or both.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 54.30 - Costs of Sales; Bonds and Notes of the City of Buffalo.

§  54.30  Costs  of  sales;  bonds  and  notes of the city of Buffalo.
  Subject to the provisions of chapter one hundred twenty-two of the  laws
  of  two  thousand three creating the Buffalo fiscal stability authority,
  to facilitate the marketing of any issue of serial bonds or notes of the
  city of Buffalo  issued  on  or  before  June  thirtieth,  two  thousand
  twenty-four,  such  city may, notwithstanding any limitations on private
  sales of bonds provided by law, and subject to  approval  by  the  state
  comptroller  of  the  terms and conditions of such sale: (a) arrange for
  the  underwriting  of  its  bonds  or  notes  at  private  sale  through
  negotiated  agreement, compensation for such underwriting to be provided
  by negotiated fee or by sale of such bonds or notes to an underwriter at
  a price of less than the sum of par value of, and the  accrued  interest
  on,  such  obligations; or (b) arrange for the private sale of its bonds
  or notes through negotiated agreement, compensation for such sales to be
  provided by negotiated fee, if required. The cost of  such  underwriting
  or  private placement shall be deemed a preliminary cost for purposes of
  section 11.00 of this article.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 54.40 - Bonds and Notes of the City of Yonkers.

§  54.40  Bonds  and  notes  of  the  city  of Yonkers. Subject to the
  provisions of the New York state financial  emergency  act  of  nineteen
  hundred eighty-four for the city of Yonkers, to facilitate the marketing
  of  any  issue of serial bonds or notes of the city of Yonkers issued on
  or before June thirtieth,  two  thousand  twenty-four,  such  city  may,
  notwithstanding  any  limitations  on private sales of bonds provided by
  law, and subject to approval by the state comptroller of the  terms  and
  conditions  of  such sale: (a) arrange for the underwriting of its bonds
  or notes at private sale through negotiated agreement, compensation  for
  such  underwriting  to  be provided by negotiated fee or by sale of such
  bonds or notes to an underwriter at a price of less than the sum of  par
  value  of, and the accrued interest on, such obligations; or (b) arrange
  for the private sale of its bonds or notes through negotiated agreement,
  compensation for such  sales  to  be  provided  by  negotiated  fee,  if
  required.  The  cost  of such underwriting or private placement shall be
  deemed a preliminary cost for purposes of section 11.00 of this article.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 54.50 - Costs of Sales; County of Erie.

§ 54.50 Costs of sales; county of Erie. To facilitate the marketing of
  any  issue  of  serial bonds or notes of the county of Erie issued on or
  before  June  thirtieth,  two  thousand  twenty-four  such  county  may,
  notwithstanding  any  limitations  on private sales of bonds provided by
  law, and subject to approval by the state comptroller of the  terms  and
  conditions of such sale:
a.  arrange for the underwriting of its bonds or notes at private sale
  through negotiated agreement, compensation for such underwriting  to  be
  provided  by  negotiated  fee  or  by  sale of such bonds or notes to an
  underwriter at a price less than the  sum  of  par  value  of,  and  the
  accrued interest on, such obligations; or
b.  arrange  for  the  private  sale  of  its  bonds  or notes through
  negotiated agreement, compensation for such  sales  to  be  provided  by
  negotiated  fee,  if  required. The cost of such underwriting or private
  placement shall be deemed a preliminary cost  for  purposes  of  section
  11.00 of this article.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 54.60 - Cost of Sales; City of Utica.

§  54.60 Cost of sales; city of Utica.  To facilitate the marketing of
  any issue of serial bonds of the city of Utica issued on or before March
  thirty-first,   nineteen   hundred   eighty-eight,   such   city    may,
  notwithstanding  any  limitations  on private sales of bonds provided by
  law, and subject to approval by the state comptroller of the  terms  and
  conditions of such sale:
a.  arrange  for the underwriting of its bonds at private sale through
  negotiated agreement, compensation for such underwriting to be  provided
  by  negotiated fee or by sale of such bonds to an underwriter at a price
  of par value or at a discount not to exceed two percent, and the accrued
  interest on such obligations; or
b. arrange for the  private  sale  of  its  bonds  through  negotiated
  agreement, compensation for such sales to be provided by negotiated fee,
  if required. The cost of such underwriting or private placement shall be
  deemed a preliminary cost for purposes of section 11.00 of this chapter.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 54.70 - Cost of Sales; City of Niagara Falls, Niagara County.

§  54.70  Cost  of  sales;  city  of Niagara Falls, Niagara county. To
  facilitate the marketing of any issue of bonds of the  city  of  Niagara
  Falls,  Niagara  county,  issued  on  or before June thirtieth, nineteen
  hundred ninety-nine, such city may, notwithstanding any  limitations  on
  private  sales  of  bonds provided by law and subject to approval by the
  state comptroller of the terms and conditions of such sale:
a. arrange for the underwriting of its bonds at private  sale  through
  negotiated  agreement, compensation for such underwriting to be provided
  by negotiated fee or by sale of such bonds to an underwriter at a  price
  less  than  the  sum  of par value of, and the accrued interest on, such
  bonds; or
b. arrange for the  private  sale  of  its  bonds  through  negotiated
  agreement,  compensation for such sale to be provided by negotiated fee,
  if required.
The cost of any such underwriting or private placement shall be deemed
  a preliminary cost for purposes of section 11.00 of this article.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 54.80 - Cost of Sales; City of Lackawanna.

§  54.80  Cost  of  sales;  city  of  Lackawanna.    To facilitate the
  marketing of any issue  of  serial  bonds  of  the  city  of  Lackawanna
  authorized  to  be  issued pursuant to section two of the chapter of the
  laws of nineteen hundred ninety which enacted this section,  issued  for
  the  purposes  of  complying  with a court ordered assessment reduction,
  such city may, on or before March first,  nineteen  hundred  ninety-one,
  notwithstanding  any  limitations  on private sales of bonds provided by
  law, and subject to approval by the state comptroller of the  terms  and
  conditions of such sales:
a.  arrange  for the underwriting of its bonds at private sale through
  negotiated agreement, compensation for services rendered  in  connection
  with  such  underwriting  to be provided by negotiated fee or by sale of
  such bonds to an underwriter at a price of less  than  the  sum  of  par
  value of, and the accrued interest on, such obligations; or
b.  arrange  for  the  private  sale  of  its bonds through negotiated
  agreement, compensation for services rendered in  connection  with  such
  sales  to  be  provided  by negotiated fee or by sale of such bonds at a
  price of less than the sum of par value of,  and  accrued  interest  on,
  such  obligations.  The  cost  of such underwriting or private placement
  shall be deemed a preliminary cost for purposes of section 11.00 of this
  chapter.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 54.85 - Bonds and Notes of the City of Troy.

§  54.85.  Bonds  and  notes  of  the  city of Troy. To facilitate the
  marketing of any issue of serial bonds or notes  of  the  city  of  Troy
  issued  on or before December thirty-first, nineteen hundred ninety-nine
  such city may, notwithstanding any limitations on private sales of bonds
  provided by law, and subject to approval by the state comptroller of the
  terms and conditions of such sale (a) arrange for  the  underwriting  of
  its  bonds  or  notes  at  private  sale  through  negotiated agreement,
  compensation for such underwriting to be provided by negotiated  fee  or
  by sale of such bonds or notes to an underwriter at a price of less than
  the  sum  of  par value of, and accrued interest on, such obligation; or
  (b) arrange  for  the  private  sale  of  its  bonds  or  notes  through
  negotiated  agreement,  compensation  for  such  sales to be provided by
  negotiated fee, if required. The cost of such  underwriting  or  private
  placement  shall  be  deemed  a preliminary cost for purposes of section
  11.00 of this chapter. Bonds or notes of the city of Troy  may  also  be
  sold  at  private  sale  to the municipal assistance corporation for the
  city of Troy.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 55.00 - Bearer and Registered Obligations.

§  55.00 Bearer and registered obligations.  a. The agency prescribing
  the terms, form and contents of bonds shall provide for the issuance  of
  bonds in either or both of the following forms:
1.  Bonds  payable  to bearer with coupons attached for the payment of
  interest to bearer, and such bonds may provide for their conversion into
  bonds registered as to both principal and interest and not otherwise.
2. Bonds in registered form, and such  bonds  may  provide  for  their
  conversion into coupon bonds.
b.  The agency prescribing the terms, form and contents of notes shall
  provide for the issuance of notes in either or  both  of  the  following
  forms:
1.  Notes  payable  to  bearer,  with  interest payable to bearer upon
  presentation for notation of such payment thereon if periodic payment of
  such interest is authorized,  and  such  notes  may  provide  for  their
  conversion  into  notes registered as to both principal and interest and
  not otherwise.
2. Notes in registered form, and such  notes  may  provide  for  their
  conversion into notes payable to bearer.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 55.10 - Endorsements of Principal Payments on Bonds and Notes.

§ 55.10. Endorsements of principal payments on bonds and notes. A bond
  or  note  shall  not  provide  for the notation of payments of principal
  thereon. Only one bond or note shall be set forth in a single instrument
  and such bond or note, when paid, shall be surrendered for  cancellation
  or destruction in the manner provided in this chapter.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 56.00 - Agency Selling and Issuing Obligations.

§  56.00 Agency selling and issuing obligations.  a. The finance board
  shall be vested with the powers and duties prescribed in sections 21.00,
  57.00, 58.00, 59.00, 60.00, 62.00 and 63.00 of  this  chapter,  and  any
  other powers or duties pertaining or incidental to the sale and issuance
  of  obligations.  However, the finance board of any municipality, school
  district or district corporation may, by  resolution,  delegate  all  or
  part  of  such  powers and duties to the chief fiscal officer or, in the
  case of school districts, to the clerk of the  school  board,  in  which
  event  such  chief  fiscal  officer or clerk of the school board, as the
  case may be, shall exercise such powers and perform  such  duties  until
  the finance board shall, by resolution, elect to reassume the same.
b. In such instances in which the chief fiscal officer or clerk of the
  school  board,  as  the  case may be, exercises such powers and performs
  such duties, the same shall be exercised or performed  subject  to  such
  terms  and  conditions,  not  inconsistent  with  the provisions of this
  chapter, as the finance board may prescribe.
c. In the case of river improvement or drainage districts  established
  by  or  under  the  supervision  of  the  conservation  department,  the
  provisions of this  chapter  shall  be  followed,  but  the  obligations
  authorized  and prescribed by the finance board shall be sold and issued
  by the state comptroller.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 57.10 - Guidelines for Sale of Bonds and Notes on a Negotiated Basis.

* §  57.10  Guidelines  for  sale  of  bonds and notes on a negotiated
  basis.  The state comptroller shall promulgate rules in conformance with
  the state administrative procedure act governing the sale of  bonds  and
  notes on a negotiated basis as authorized by sections 54.90 and 57.00 of
  this  chapter.  No  bond  or  note  sale  on a negotiated basis shall be
  conducted by a municipality, school  district  or  district  corporation
  without  prior  approval  of the state comptroller except as provided in
  such rules, which shall set forth the  circumstances  under  which  such
  approval  shall  not  be  required. The state comptroller shall annually
  deliver to the senate finance committee and the assembly ways and  means
  committee  a  report  listing  all  such sales conducted in the previous
  year, including the name of the issuer and the amount of the  issue  for
  each  such  sale.    Such  rules shall be reviewed at least annually and
  updated as may be necessary.
* NB Repealed July 15, 2024
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 60.00 - Sale of Notes.

§  60.00  Sale  of  notes.  a.  Notes  may be sold at either public or
  private sale, but they shall not be sold on  option  or  on  a  deferred
  payment  plan,  except  as authorized by paragraph a of section 57.00 of
  this chapter.
b. Notes may be sold without limitation as to rate  of  interest,  and
  for  a  sum not less than the par value of, and the accrued interest on,
  such obligations except as authorized by section 54.10 of this  chapter,
  and  bond  anticipation notes of municipalities may be sold to the state
  of New York municipal bond bank agency, and in addition by the  city  of
  New  York  to  the  municipal assistance corporation for the city of New
  York, at such rate or rates of interest as may be  agreed  upon  by  and
  between the issuer and either of such agencies.
c.  Capital  notes  for  one  or  more specific objects or purposes or
  classes of objects or purposes, or a combination thereof, may be sold as
  a single capital note issue. Bond anticipation notes  for  one  or  more
  specific  objects  or  purposes  or classes of objects or purposes, or a
  combination thereof, may be sold as  a  single  bond  anticipation  note
  issue.
d.  If  notes are sold at public sale the agency in charge of the sale
  may specify the procedure therefor or such agency may adopt as  much  of
  the  procedure  prescribed  for  the  sale of bonds in sections 57.00 to
  59.00, inclusive, of this chapter, as such agency  may  desire.  In  all
  such  sales,  however,  the  agency  shall comply with the provisions of
  paragraph e of this section. Nothing herein contained shall be construed
  to prevent the sale of notes at public auction.
e. The state comptroller shall adopt a rule or  order,  which  he  may
  amend from time to time, prescribing a procedure for the circularization
  of  notices  for the public sale of notes and which shall also prescribe
  such data and information as he may deem advisable to  be  contained  in
  such  notices.  Such  rule  or order and the amendments thereto shall be
  filed in his office and in such other offices as he may designate.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 61.00 - Execution of Obligations.

§  61.00  Execution  of  obligations.    a. All obligations, including
  interim bonds, shall be executed in the name of the municipality, school
  district or district corporation by the chief fiscal officer unless  the
  finance  board  shall,  by  resolution, designate a different officer or
  officers to  execute  such  obligations.    Such  execution  may  be  by
  facsimile  signature, in which event the finance board shall provide for
  authentication of such obligation by the manual  countersignature  of  a
  fiscal  agent  or  of  a designated official of the municipality, school
  district or district corporation. Such obligations shall have  the  seal
  or  a  facsimile  seal  of the municipality, school district or district
  corporation impressed or imprinted  thereon.  Such  obligations  may  be
  attested  by  the  facsimile  or  manual  signature of the clerk of such
  municipality, school district or  district  corporation  or  such  other
  official  thereof  as  may  be  designated by the finance board. Coupons
  attached to a bond shall be authenticated by  the  facsimile  or  manual
  signature of the chief fiscal officer unless the finance board shall, by
  resolution,  provide  that  such  coupons  shall be authenticated by the
  facsimile or manual signature of a different officer.
b. Obligations executed in the manner set forth above by the officials
  designated and referred to above shall be valid and binding  obligations
  when  duly  delivered, notwithstanding the fact that before the delivery
  thereof the persons executing the same shall have ceased to be officials
  or other officials may have been designated to perform such functions.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 62.00 - Interim Bonds.

§  62.00  Interim bonds. The agency selling and issuing the bonds of a
  municipality, school district or district corporation may issue  interim
  bonds  pending  the  printing  or  engraving  and  delivery  of bonds in
  definitive form. Such interim bonds shall be of substantially  the  same
  form  and  tenor  as  the  definitive bonds, except that they shall also
  provide that they are exchangeable for the definitive  bonds  when  such
  bonds  are  ready  for delivery, and if such definitive bonds are coupon
  bonds, the interim bonds need not have coupons attached but may  provide
  for the payment of interest upon their presentation for notation of such
  payment  thereon. Such interim bonds may be issued in such denominations
  as the purchaser may request, which may be one denomination equal to the
  principal amount of the bond issue.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 63.00 - Bond Issues of Certain Amounts.

§  63.00 Bond issues of certain amounts.  a. When sold at public sale,
  bonds of an issue not exceeding  five  million  dollars,  whether  of  a
  single  issue  or  sold  as  a  single  issue pursuant to paragraph c of
  section 57.00 of this chapter, having a maximum  maturity  of  not  more
  than five years measured from the date of the bonds, need not be sold in
  accordance  with  the  requirements of section 58.00 of this chapter for
  publication of the notice of sale but may be sold upon such  publication
  or  circularization  of  such notice as shall be prescribed by the state
  comptroller in the rule or order referred to in paragraph d  of  section
  57.00 of this chapter.
b.  Bonds of an issue not exceeding five million dollars, whether of a
  single issue or sold as a  single  issue  pursuant  to  paragraph  c  of
  section  57.00  of  this  chapter,  may  be sold at private sale without
  limitation as to rate of interest, provided,  however,  that  the  total
  amount  of bonds which may be sold at private sale in any fiscal year of
  the municipality, school district  or  district  corporation  shall  not
  exceed  five  million  dollars,  and provided further that if such bonds
  have a maximum maturity of more than ten years measured from the date of
  the bonds, the issuer shall furnish the  purchaser  a  written  opinion,
  signed  by  any person regularly admitted to practice as an attorney and
  counselor in the courts of record of this state, that  such  bonds  have
  been  duly authorized and issued in accordance with the constitution and
  laws of this state and are valid and legally binding obligations of  the
  issuer.  Such  legal  opinion  shall  be furnished at the expense of the
  issuer and a duplicate original thereof shall be filed with the  officer
  of the issuer who is required to keep a record of such bonds pursuant to
  section 163.00 of this chapter.
c. The bonds of any issue which may be sold pursuant to the provisions
  of  this  section  need not have coupons attached in accordance with the
  requirements of paragraph a of section 55.00 of  this  chapter  but  may
  provide for the payment of interest upon their presentation for notation
  of  such  payment thereon. Such bonds, if issued without coupons, shall,
  nevertheless, be considered and treated as coupon bonds for the purposes
  of sections 71.00, 72.00 and 75.00 of this chapter, except that upon the
  reconversion of such a bond which has been converted into  a  registered
  bond,  a new bond may be issued in substantially the same form and tenor
  as originally issued, or with coupons, as the holder may request.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof › 63.10 - Cancellation of Obligations.

§  63.10.  Cancellation  of  obligations.  When  obligations are paid,
  notwithstanding the provisions of any other general,  special  or  local
  law  or  of  article  forty-six  of the education law relating to public
  records, they shall be cancelled or destroyed  in  such  manner  as  the
  state  comptroller shall prescribe by a rule or order to be filed in his
  office and in such other offices as he may designate.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 5 - Local Obligations: Registration, Conversion and Reconversion Thereof › 71.00 - Conversion of Coupon Bonds Into Registered Bonds.

§  71.00  Conversion  of  coupon bonds into registered bonds.  a. If a
  coupon bond so provides, the holder thereof may present such bond to the
  registration agent with a written request  for  its  conversion  into  a
  registered  bond.  The  registration  agent  shall thereupon cut off and
  destroy the coupons and endorse a certificate of  such  conversion  upon
  the bond.
b.  The  certificate of conversion shall contain a statement, properly
  dated, of the amount and value of such coupons, and that  the  interest,
  at  the  rate and on the dates stated in the bond and as was provided by
  the coupons, as well as the principal, is to be paid to  the  registered
  holder,  his  legal  representatives,  successors or transferees, at the
  place or places stated in the bond and as was  stated  in  the  coupons,
  unless such place or places shall be changed with the written consent of
  the holder.
c. When the coupons have been cut off and destroyed, and a certificate
  of  conversion has been properly endorsed upon the bond, such bond shall
  then be registered as provided in section 75.00 of this chapter.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 5 - Local Obligations: Registration, Conversion and Reconversion Thereof › 73.00 - Conversion and Reconversion of Registered Bonds.

§  73.00  Conversion  and reconversion of registered bonds.  a. A bond
  issue in registered form, if it so provides, shall be converted  into  a
  coupon  bond  at  the  request  of  the  registered holder, or his legal
  representatives, successors or transferees, in the  same  manner  as  is
  provided  in  section  72.00  of  this chapter for the reconversion of a
  coupon bond which has been converted into a registered bond, except that
  only a new bond with coupons shall be issued. Such new coupon bond shall
  be payable  according  to  the  terms  of  the  original  bond.  A  bond
  heretofore  or  hereafter  issued  in  registered  form,  which does not
  provide that it may be converted into a coupon bond, shall be  converted
  into  a coupon bond at the request of the registered holder or his legal
  representatives, successors or transferees, provided the issue of  which
  such  bond is a part was sold at public sale and the notice of such sale
  provided for the issuance of bonds in bearer form with coupons with  the
  right of conversion into registered form, and provided the finance board
  of  the  issuer shall adopt a resolution authorizing such conversion and
  prescribing the form of the bond and the coupons for unmatured interest.
  Such bond, in such event, shall be converted in the same  manner  as  is
  provided  in  section  72.00  of  this chapter for the reconversion of a
  coupon bond which has been converted into a registered bond, except that
  only a new bond with coupons shall be issued and such  new  coupon  bond
  shall be payable according to the terms of the original bond.
b.  A  registered  bond which has been so converted may be reconverted
  into a registered bond in the same manner  as  is  provided  in  section
  71.00  of  this  chapter  for  the  conversion  of  a coupon bond into a
  registered bond.
c. Such bond may again and from time  to  time  be  converted  into  a
  coupon  bond  and  reconverted  into  a  registered  bond  in the manner
  provided in this section.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 5 - Local Obligations: Registration, Conversion and Reconversion Thereof › 74.00 - Conversion and Reconversion of Notes.

§  74.00  Conversion  and reconversion of notes.  a. A note payable to
  bearer, if it so provides, shall be converted into a registered note  at
  the  request  of  the holder. The registration agent shall register such
  note in his books in the name of the holder and endorse a certificate of
  such registration upon the note. In like manner, at the written  request
  of  the  registered  holder  of  the  note  so  converted,  or his legal
  representatives, successors,  or  transferees,  the  registration  agent
  shall  reconvert  such note into a note payable to bearer by registering
  such note in his books as payable to bearer and endorsing a  certificate
  of  such  registration  upon  the  note.  Such  request  shall  be  duly
  acknowledged or proved, or in  the  alternative  the  signature  thereto
  shall  be  certified  as  to  its genuineness by an officer of a bank or
  trust company located and authorized to do business in this state.  Such
  note may again and from time to time be converted into a registered note
  and reconverted into a note payable to bearer in the manner provided  in
  this paragraph.
b.  A  note  issued  in  registered  form, if it so provides, shall be
  converted into a note payable to bearer at the written  request  of  the
  registered   holder,   or  his  legal  representatives,  successors,  or
  transferees. Such request shall be duly acknowledged or  proved,  or  in
  the  alternative  the  signature  thereto  shall  be certified as to its
  genuineness by an officer  of  a  bank  or  trust  company  located  and
  authorized  to  do  business in this state. The registration agent shall
  register such note in his books as payable to bearer, and shall  endorse
  a certificate of such registration upon the note. In like manner, at the
  request  of  the  holder  of a note so converted, the registration agent
  shall reconvert such note into a registered  note  by  registering  such
  note  in his books in the name of the holder and endorsing a certificate
  of such registration upon the note. Such note may again and from time to
  time be converted into a note payable to bearer and reconverted  into  a
  registered note in the manner provided in this paragraph.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 6 - Local Obligations: Estoppel From Contesting Validity Thereof › 80.00 - Bond Resolution, or Note Resolution or Certificate, May Contain Estoppel Clause.

§  80.00  Bond  resolution,  or  note  resolution  or certificate, may
  contain estoppel clause. The resolution of a finance  board  authorizing
  the  issuance  of  bonds  or notes, or the certificate of a chief fiscal
  officer authorizing the issuance of notes, may, in the discretion of the
  finance board or such chief fiscal officer, as the case may be,  contain
  a  statement  that  the  validity  of  such  bonds  or notes or any bond
  anticipation notes issued in anticipation of the sale of such bonds  may
  be contested only if:
1.  Such obligations are authorized for an object or purpose for which
  the  municipality,  school  district  or  district  corporation  is  not
  authorized to expend money, or
2.  The provisions of law which should be complied with at the date of
  the publication of such resolution or summary thereof,  or  certificate,
  as  the case may be, are not substantially complied with, and an action,
  suit or proceeding contesting such validity, is commenced within  twenty
  days after the date of such publication, or
3.  Such  obligations are authorized in violation of the provisions of
  the constitution.
2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 6 - Local Obligations: Estoppel From Contesting Validity Thereof › 82.00 - Twenty Day Period of Limitation.

§  82.00  Twenty  day period of limitation. After the publication of a
  resolution, summary of such resolution or certificate together with such
  a notice, the validity of the  obligations  authorized  thereby  may  be
  contested only if:
1. Such obligations were authorized for an object or purpose for which
  the  municipality,  school  district  or  district  corporation  is  not
  authorized to expend money, or
2. The provisions of law which should have been complied with  at  the
  date  of  the publication of such resolution, summary of such resolution
  or certificate were not substantially complied with, and an action, suit
  or proceeding contesting such validity is commenced within  twenty  days
  after such publication, or
3.  Such obligations were authorized in violation of the provisions of
  the constitution.