New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter D - Exclusion Of Self-liquidating Indebtedness From Limitations › Part 60 - Exclusion Of Self-liquidating Indebtedness In Ascertaining Power Of A Municipality To Contract Indebtedness › Section 60.4 - Contents of application

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				  The application, if made by a chief fiscal officer of a municipality, shall
				  state whether the application is made by him in his discretion or whether he
				  has been directed by the finance board to make the application. The application
				  shall contain a brief description of the public improvement or part of a public
				  improvement or service, a reference to the law pursuant to which the public
				  improvement or part of a public improvement is owned or the service is rendered
				  and a statement of the actual date, or if that is not known, the approximate
				  date, when the public improvement or part of a public improvement was placed in
				  operation or the service was first rendered. In the case of a district
				  corporation or an improvement district of a county or town, the application
				  shall state the date on which such corporation or improvement district was
				  created or established, the date of any extension thereof, a reference to the
				  statutes pursuant to which it was created, established or extended and a
				  reference to the statutes pursuant to which it operates. It shall state the
				  dates of the commencement and termination of the fiscal year in which the
				  application is filed and the same information for the preceding fiscal year. If
				  such public improvement or a part of a public improvement shall have been in
				  operation or such service shall have been rendered for at least one complete
				  fiscal year of such municipality, district corporation, or improvement
				  district, the application also shall contain the following information with
				  respect to such public improvement, or part of a public improvement or service
				  for the preceding fiscal year:
(1) A
				  description of each issue of bonds, bond anticipation notes and capital notes
				  issued therefor and outstanding (i) as of the beginning of such preceding
				  fiscal year, (ii) as of the close of such preceding fiscal year and (iii) as of
				  the date of the application. For each issue of obligations there shall be set
				  forth the amount of such issue outstanding as of the beginning of such
				  preceding fiscal year, as of the close of such preceding fiscal year and as of
				  the date of the application, the date of issue, the date of final maturity, the
				  interest rate, the dates of amortization or payment of principal and of
				  interest, and the amounts required during such preceding fiscal year for the
				  payment of interest on and the amortization or payment of the principal
				  thereof. If any bonds, bond anticipation notes and capital notes were issued
				  therefor during such preceding fiscal year and were paid during such year,
				  other than from the proceeds of bonds, there shall be set forth the details of
				  such borrowing and payment.
(2) The
				  gross revenue actually received therefrom during such preceding fiscal year.
				  Such gross revenue shall not include receipts from taxes and assessments for
				  benefit or subsidies by the municipality or district corporation in any form or
				  manner.
(3) The amount incurred
				  therefor during such preceding fiscal year for the costs of operation,
				  maintenance and repairs.
(4) The
				  net revenue received therefrom during such preceding fiscal year which shall be
				  determined by subtracting the amount of item (3) above from the amount of item
				  (2) above.
(5) The amount
				  outstanding at the close of such preceding fiscal year of real property
				  liabilities and contract liabilities incurred for such public improvement, part
				  of a public improvement or service and the amount outstanding at the close of
				  such preceding fiscal year of judgments, claims, awards and determinations
				  attributable to or chargeable against such public improvement, part of a public
				  improvement or service. The definitions of the terms "real property
				  liabilities", "contract liabilities" and "judgments, claims, awards and
				  determinations", in subdivisions 2, 3 and 6 of paragraph a of section 135.00  of the Local Finance Law shall
				  apply herein.