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 61 - Exclusion Of Self-liquidating Housing Indebtedness In Ascertaining Power Of A City To Contract Housing Indebtedness › Section 61.3 - Contents

Current through Register Vol. 46, No. 28, July 10, 2024
The application shall contain:
(a) The date of the commencement and
				  termination of the fiscal year of the city in which the application is filed,
				  and the same information for the preceding fiscal year.
(b) A brief description of the project or
				  projects in relation to which an exclusion of housing indebtedness is
				  sought.
(c) A statement as to
				  whether the project or projects are aided by (1) a guarantee or guarantees of
				  the city representing indebtedness which the city seeks to exclude or (2) a
				  loan or loans from the city for which the city contracted indebtedness which
				  the city seeks to exclude. Any guarantee or guarantees or loan or loans shall
				  be described in reasonable detail.
(d) A statement, as to each project, of the
				  indebtedness sought to be excluded which arises from such guarantee or
				  guarantees or loan or loans. The amount of any indebtedness arising from a
				  guarantee shall be ascertained pursuant to section 143.00  of the Local Finance
				  Law.
(e) A statement of the gross
				  revenues of each project actually received during such preceding fiscal year.
				  In computing gross revenues, periodic subsidies received in cash shall be
				  included but shall be identified as to amounts and sources.
(f) A statement, as to each project, of the
				  amount incurred during such preceding fiscal year for the costs of operation,
				  maintenance, repairs and replacements; the amount of the interest due and paid
				  on any such indebtedness during such preceding fiscal year; and the amounts
				  required in such preceding fiscal year for the payment of any such
				  indebtedness. In any such computation, the amounts paid into a fund, from which
				  costs of operation, maintenance, repairs and replacements are intended and
				  required to be paid in a subsequent year, shall be deemed a cost for such
				  preceding fiscal year, but amounts expended from any such fund shall not be
				  deemed an expenditure for costs of operation, maintenance, repairs or
				  replacements in the year of expenditure.
(g) A statement of the amount of the net
				  revenue, which in the opinion of such chief fiscal officer, was yielded by each
				  such project during such preceding fiscal year.
(h) A declaration, as to each project, in the
				  case of a project or projects aided by a guarantee or guarantees, that the
				  interest on and the amounts required for the payment of such indebtedness in
				  such preceding fiscal year were paid during such preceding fiscal year from
				  such gross revenues.
(i) A
				  declaration, in the case of a project or projects aided by a loan or loans,
				  that the amount which the city was required to pay during such preceding fiscal
				  year for interest on and principal of such indebtedness was paid to the city
				  during such year from such gross revenues.
(j) The application shall contain a
				  statement, as to each project, that expenditures actually made for the purposes
				  set forth in subdivision (f) above and that amounts required for the payment of
				  such indebtedness and interest as specified in subdivision (f), were made or
				  set aside from the gross revenues described in subdivision (e) above.
(k) The application shall contain a statement
				  of the chief fiscal officer that the project or projects were maintained in
				  good condition in such preceding fiscal year and that no item of maintenance,
				  operation, repairs and replacements normal for such preceding fiscal year was
				  deferred to a subsequent fiscal year.
(l) The application may contain or be
				  supported by such documents, computations, data and information as such chief
				  fiscal officer shall deem pertinent.