New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Appendices › Appendix 8

Current through Register Vol. 46, No. 28, July 10, 2024
Form A.C., 973 (1964 Rev.)
Cities under 125,000 population
Counties
Towns
Villages
DEBT STATEMENT
OF
___________
Name of Municipality
________ COUNTY, NEW YORK
PREPARED AS OF
________, 19 ________
Form A.C. 973-1
Cities under 125,000 population
Counties
Towns
Villages
STATE OF NEW YORK
DEPARTMENT OF AUDIT AND CONTROL
DIVISION OF MUNICIPAL AFFAIRS
This is the official debt statement form prescribed for use by
				counties, towns, villages and cities having a population of less than 125,000
				inhabitants according to the 1960 federal census.
ARTHUR LEVITT
State Comptroller
INSTRUCTIONS
1. Statutory Reference. At each Item of indebtedness to be
				included and excluded in the debt statement will be found a statutory
				reference. For example, "135.00(a, 1)" means "subdivision 1 of paragraph a of
				section 135.00  of the Local Finance Law".
				Reference to that section in the Local Finance Law will show the statutory
				meaning of the word "Borrowings". Wherever a reference appears, that section of
				the Local Finance Law should be consulted.
2. Date of Preparation. The statement must be prepared as of a
				date not more than thirty days previous to the date of sale of bonds. Local
				Finance Law, section
				109.00.
3. Filing. A debt statement must be filed not more than fifteen
				days nor less than three days before a municipality sells any bonds which are
				required to be sold at public sale. The statement must be filed with the State
				Comptroller and a duplicate copy must be filed with the clerk or corresponding
				officer of the municipality. It is not necessary to file a copy in the county
				clerk's office. Local Finance Law, section
				109.00.
4. Fees for Copies. Should it be necessary to obtain either a
				copy, certified copy, or exemplified copy of a debt statement filed with the
				State Comptroller, see paragraph c of section 141.00  of the Local Finance Law, as added
				by Chapter 437 of the Laws of 1947, for fee schedule. The statute requires such
				fees to be prepaid.
5. Average Full Valuation. In computing "Average Full
				Valuation" at page 4, use last completed assessment roll and four preceding
				rolls. A completed assessment roll is one which has been completed, verified
				and filed by the assessors and for which a State equalization rate has been
				established. The words "For Fiscal Year Ending" refer to the year for which
				taxes have been or will be extended on the assessment roll rather than the year
				in which the roll was completed. The amounts to be used in Column 1 would be
				the amounts shown on such rolls as filed after the hearing of grievances,
				regardless of subsequent changes. In Column 1, include the assessed valuations
				of special franchises but exclude the assessed valuations of all exempt
				properties to the extent they are exempt from general taxation. Full valuation
				(Column 3) is determined as follows: Divide the assessed valuations (Column 1)
				by the equalization rate (Column 2) established by the State for such
				valuation. Where boundary changes have occurred and in the case of
				newly-created municipalities, see section 2.00 (7-a)  of the Local
				Finance Law.
In the case of counties, average full valuation is computed by
				dividing the assessed valuations on the last completed and four preceding
				assessment rolls of the cities and towns therein by the equalization rates
				established for such rolls; provided, however, in a county having a county
				department of assessment the State equalization rates established for the
				cities and towns therein on the basis of the county roll shall be applied to
				the apportionate portions of the county roll. The sum of the quotients thus
				obtained shall be divided by five.
6. INCLUSIONS:
Re Item 8, Page 4. Include the respective amounts of all
				several indebtedness and allocated or apportioned joint indebtedness contracted
				or incurred pursuant to Article II, Title 1-A of the Local Finance Law in
				relation to a joint service or a joint water, sewage or drainage project. The
				amount of joint indebtedness to be so included should not exceed the amount of
				such indebtedness allocated and apportioned to the municipality in the bond or
				note resolution authorizing such indebtedness to be contracted.
(Page 1)
Form A.C. 973-2
Joint indebtedness to be included arising out of real property
				liabilities and contract liabilities should not exceed the amount of such
				indebtedness required to be allocated and apportioned to the municipality in
				the agreement of the participating municipalities in relation to such joint
				service or project. Where the agreement does not provide for any such
				allocation or apportionment, or in the case of involuntary joint indebtedness,
				the amount to be allocated and apportioned and included in the debt statement
				of a participating municipality should be in the same proportion as the full
				valuation of the real estate subject to taxation or assessment by such
				municipality for such joint service or project bears to the full valuation of
				the real estate subject to taxation or assessment by all of the participating
				municipalities for such joint service or project. See Local Finance Law,
				section 15.10. H owever, if the State Comptroller has issued a certificate
				allocating and apportioning such joint indebtedness pursuant to the provisions
				of section 15.10  of the Local Finance Law, the
				amounts so allocated and apportioned by the State Comptroller should be
				included in the debt statements of each respective municipality as
				indebtedness.
7. EXCLUSIONS:
(a) Item 1, Page 5. Do not include bonds, bond anticipation
				notes, capital notes, budget notes or obligations which have been issued for
				the direct financing of improvement or equipment. Do not include any tax or
				revenue obligations, or renewals thereof, which have not been retired within
				five years after the date such original obligations were issued.
(b) Item 2, Page 5. Include only obligations issued for objects
				or purposes other than the financing of capital improvements and contracted to
				be redeemed in one of the two fiscal years immediately succeeding the year of
				their issue, Do not include serial bonds of an issue having a maximum maturity
				of more than two years.
(c) Item 3, Page 5. Do not include joint or several
				indebtedness contracted pursuant to Article II, Title 1-A of the Local Finance
				Law to finance a joint water project. Such indebtedness is to be included in
				Item 12, page 5.
(d) Item 4, Page 5. Do not include any indebtedness contracted
				pursuant to Article II, Title 1-A of the Local Finance Law in relation to a
				joint service or a joint water, sewage or drainage project.
(e) Item 11, Page 5. Include city indebtedness for education
				purposes, if any, allocated to the city school district by the State
				Comptroller pursuant to section 1 of Chapter 831 of the Laws of 1951.
(f) Item 12, Page 5. State the respective amounts of any
				several indebtedness and the allocated or apportioned amounts of any joint
				indebtedness contracted or incurred in relation to the financing of a joint
				water project pursuant to Article II, Title 1-A of the Local Finance
				Law.
(g) Items 13 and 14, Page 5. State the respective amounts of
				any several indebtedness and the allocated or apportioned amounts of any joint
				indebtedness contracted or incurred in relation to the financing of a joint
				service and a joint sewage or drainage project pursuant to Article II, Title
				1-A of the Local Finance Law and excluded pursuant to the provisions of
				sections 15.20 and 123.00 of such law.
8. Gross Joint Indebtedness. The aggregate gross amount of all
				joint indebtedness including borrowings, real property liabilities, contract
				liabilities, judgments, claims, awards and determinations contracted or
				incurred and before any apportionment or allocation should be stated at page 4
				of the debt statement.
* * *
* *
*
(Page 2)
Form A.C. 973-3
The following is a statement of the ________ of ________ in the
				County of ________, New York, to contract indebtedness, and is prepared as of
				________, 196 ________, pursuant to Title 8, Article II of the Local Finance
				Law.
1. Borrowings. 135.00(a, 1). ............ $________
2. Real Property Liabilities. 135.00(a, 2), 142.00.
				............ ________
3. Contract Liabilities. (Separate according to 135.00(a,3)).
				............
(a) ________
(b) ________
4. Cities, Towns and Villages:
Contract Liabilities:
Housing Guarantees; Subsidies. ............ (a)________
(b) ________
5. Cities, Towns and Villages:
State Loans to Certain Housing Authorities and Mu-
nicipalites. 135.00(a, 5). ............ ________
6. Judgments, Claims, Awards and Determinations ............
				(a)________
(b) ________
7. Cities, Towns and Villages:
Indebtedness Contracted by Certain District Corporations.
				135.00(a, 7) ............ ________
8. Indebtedness Contracted or Incurred Pursuant to
Article II, Title I-A of the Local Finance Law in
relation to a Joint Service or Joint Water, Sewage or
Drainage Project: (See Instruction 6, Page 1.)
(a) Borrowings: Several Indebtedness. ............
				________
(b) Borrowings: Allocated or Apportioned Joint
Indebtedness. ............ ________
(c) Real Property Liabilities. ............ ________
(d) Contract Liabilities. ............ ________
(e) Judgments, Claims. Awards and Determinations. ________
Total Inclusions ............ $ ________
________
1. Tax and Revenue Obligations. 136.00(1). ............
				$________
(b) ________
2. Obligations Issued for other than Capital Improvements.
				136.00(1-a)............ ________
(b) ________
3. Water Indebtedness. 136.00(2). ............ $________
(b) ________
4. Indebtedness Contracted for Self-Liquidating Projects.
				136.00(3). ............
(a) ________
(b) ________
(b) ________
(c) ________
5. Sewer Indebtedness Contracted on or after January
1, 1962, and prior to January 1, 1973. 136.00(4-
				a)............. ________
6. Bonds for Pensions. 136.00(4). ............ ________
7. Cities and Villages with Population of 5,000 or More:
Indebtedness for Housing and Urban Renewal
Purposes. ............
(a) ________
(a) ________
(c) ________
(d) ________
8. Towns and Villages with Population of Less than
5,000:
Subsidies or Guarantees for Housing Purposes.
136.00(9)............. ________
9. Assets of Sinking Funds. 136.00(10). ............
				________
10. Cash on Hand for Debts. 136.00(11). ............
				________
11. Appropriations. 136.00(12). ............ ________
12. Cities Only:
School Indebtedness. 136.00(13) ............ ________
(d) ________
13.
(a) Several Indebtedness Contracted in relation to a
Joint Water Project. 15.20. ............ (a) ________
(d) ________
(d) ________
14.
(a) Several Indebtedness Contracted for a Joint
Service and Excluded Pursuant to Local Finance
Law, sections 15.20 and 123.00. ............ (a)________
(b) The Apportioned or Allocated Amount of any
such Joint Indebtedness so Excluded. ............
				(b)________
(d) ________
15.
(a) Several Indebtedness Contracted for a Joint
Sewage or Drainage Project and Excluded Pur-
suant to Local Finance Law, sections
				15.20 and
123.00. ............ (a)________
(b) The Apportioned or Allocated Amount of any
such Joint Indebtedness so Excluded. ............
				(b)________
(d) ________
Total Exclusions ............ $________.
________
Image
Form A.C. 973-7
NOTE: This debt statement must be verified by the chief fiscal
				officer of the municipality. See definition of the term "chief fiscal officer"
				in the Local Finance Law, section
				2.00(5). If a municipality
				has no chief fiscal officer, then this statement must be verified by the
				finance board.
VERIFICATION BY CHIEF FISCAL OFFICER
State of New York)
) ss:
County of________)
________ being duly sworn, deposes and says: That ________he is
				the duly (elected) (appointed), qualified, and acting chief fiscal officer of
				the ________ in the County of ________ New York; that ________he prepared and
				has read the foregoing debt statement and knows the contents thereof; that the
				same is true to (his) (her) own knowledge except as to the matters therein
				stated to be alleged upon information and belief, and that as to those matters
				________he believes it to be true.
Subscribed and sworn to before me
___________
Signature this ________ day of ________, 19 ________.
___________
Title
___________
Notary Public
___________
Mail Address
VERIFICATION BY FINANCE BOARD
Not necessary if verification is made by chief fiscal
				officer
State of New York)
) ss:
County of ________)
____________
____________
being each duly sworn, depose and say: That they are the duly
				(elected) (appointed), qualified, and acting members of the finance board of
				the ________ in the County of ________, New York, that they prepared and each
				of them has read the foregoing debt statement and knows the contents thereof;
				that the same is true of their own knowledge except as to the matters therein
				stated to be alleged upon information and belief, and that as to those matters
				they believe it to be true.
Subscribed and sworn to before me ________
this ________ day of ________, 19 ________. ________
___________
Notary Public ________
________