reglab/statecodes huggingface dataset:
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter A - Sales Of Bonds And Notes; Debt Statements › Part 39 - Installment Purchase Contracts By Political Subdivisions › Section 39.2 - Evaluation of financing alternatives

Current through Register Vol. 46, No. 28, July 10, 2024
No governing board shall adopt a resolution authorizing an
					 installment purchase contract unless an evaluation of financing alternatives
					 has been prepared in connection therewith. Such evaluation shall set forth the
					 financing alternatives considered and the criteria used to evaluate these
					 alternatives. The evaluation shall also contain written documentation
					 substantiating the estimates required to be included in the evaluation pursuant
					 to this section. At a minimum, the evaluation of financing alternatives shall
					 contain the following:
(a) a statement
				  indicating the estimated cost of each capital improvement to be financed,
				  exclusive of the cost of financing;
(b) a statement indicating whether the
				  proposed capital improvements may be financed with indebtedness issued under
				  the Local Finance Law and if not, the specific reasons why such financing is
				  not authorized;
(c) if the capital
				  improvements may be financed with indebtedness, a statement indicating the
				  estimated total cost of the capital improvements, inclusive of the cost of
				  financing, if financed pursuant to the Local Finance Law;
(d) a statement indicating the estimated
				  total cost of the proposed capital improvements, inclusive of the cost of
				  financing, if financed pursuant to an installment purchase contract;
(e) a comparison of the estimated total costs
				  required by subdivisions (c) and (d) of this section; and
(f) a recommendation as to whether it is in
				  the best interests of the political subdivision to finance the capital
				  improvements pursuant to the Local Finance Law or pursuant to an installment
				  purchase contract and the specific reasons for such recommendation.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter A - Sales Of Bonds And Notes; Debt Statements › Part 39 - Installment Purchase Contracts By Political Subdivisions › Section 39.3 - Adoption of resolution authorizing an installment purchase contract

Current through Register Vol. 46, No. 28, July 10, 2024
Any resolution authorizing a political subdivision to
					 utilize an installment purchase contract to finance capital improvements shall
					 refer to the evaluation of financing alternatives and, after taking into
					 account such evaluation, set forth the specific reasons why the governing board
					 has determined that it is in the best interests of the political subdivision to
					 finance the capital improvements pursuant to an installment purchase contract.
					 The evaluation of financing alternatives shall be maintained by the political
					 subdivision as a public record and be filed with the resolution to which it
					 pertains.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter A - Sales Of Bonds And Notes; Debt Statements › Part 39 - Installment Purchase Contracts By Political Subdivisions › Section 39.4 - Compliance with competitive bidding statutes or other applicable provisions

Current through Register Vol. 46, No. 28, July 10, 2024
No political subdivision shall enter into an installment
					 purchase contract unless and until it has complied with the competitive bidding
					 requirements of article 5-A of the General Municipal Law or of any other
					 general, special or local law. If no such competitive bidding requirements are
					 applicable, the political subdivision shall comply with its procurement
					 policies and procedures adopted pursuant to General Municipal Law, section
					 104-b. F or purposes of complying with such requirements or procedures, a
					 political subdivision may determine to solicit bids, quotations or proposals,
					 as the case may be, in the alternative, exclusive and inclusive, of the cost of
					 financing.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter A - Sales Of Bonds And Notes; Debt Statements › Part 39 - Installment Purchase Contracts By Political Subdivisions › Section 39.5 - Procurement of vendor and nonvendor financing

Current through Register Vol. 46, No. 28, July 10, 2024
(a) If the governing board of the political
				  subdivision determines that it is in the best interests of the political
				  subdivision to select a bid, offer or proposal, as the case may be, inclusive
				  of the cost of financing, the governing board shall adopt a resolution
				  authorizing the political subdivision to enter into an installment purchase
				  contract with the successful bidder or offeror making a bid or offer inclusive
				  of the cost of financing.
(b) If
				  the governing board determines that it is in the best interests of the
				  political subdivision to select a bid, offer or proposal, as the case may be,
				  exclusive of the cost of financing, it shall adopt a resolution requiring the
				  capital improvement to be procured from the successful party making a bid,
				  offer or proposal, exclusive of the cost of financing, and directing that
				  nonvendor financing be obtained pursuant to either section
				  39.6,
				  39.7
				  or
				  39.8 
				  of this Part. Such resolution shall also authorize the political subdivision to
				  enter into an installment purchase contract with any party selected to provide
				  the financing or, if certificates of participation are to be issued, with a
				  party acting on behalf of the holders of the certificates of participation. The
				  resolution may also delegate to the chief fiscal officer the power to cause
				  certificates of participation to be sold pursuant to section
				  39.6
				  or
				  39.7 
				  of this Part.
(c) Any resolution
				  adopted pursuant to this section must include a statement that execution of the
				  installment purchase contract will not cause the political subdivision to
				  exceed the limits prescribed by paragraph c of subdivision 6 of section 109-b  of the General Municipal
				  Law.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter A - Sales Of Bonds And Notes; Debt Statements › Part 39 - Installment Purchase Contracts By Political Subdivisions › Section 39.6 - Public sale of certificates of participation

Current through Register Vol. 46, No. 28, July 10, 2024
A political subdivision may cause certificates of
					 participation issued in connection with one or more of its installment purchase
					 contracts to be sold at public sale. Such certificates of participation shall
					 be sold to the bidder offering the lowest interest cost as computed in
					 accordance with the net interest cost method, taking into consideration any
					 premium or discount, or the actuarial or true interest cost method, whichever
					 is specified in the notice of sale. The notice of such sale must be
					 circularized in accordance with any rule or order prescribed by the State
					 Comptroller pursuant to paragraph d of section 57.00  of the Local Finance Law for the
					 circularization of notices for the sale of bonds. Where the notice of sale
					 provides that bids shall be awarded based on net interest cost, the notice
					 shall also require that the interest rate for each maturity shall not be less
					 than the interest rate for any prior maturity. The notice of sale must be
					 circularized not less than four nor more than 15 days, Sundays excepted, before
					 the date fixed for the public sale unless the notice provides for a
					 supplemental notice of sale in accordance with the procedure for the sale of
					 bonds in paragraph (d) of section 58.00  of the Local Finance
					 Law.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter A - Sales Of Bonds And Notes; Debt Statements › Part 39 - Installment Purchase Contracts By Political Subdivisions › Section 39.7 - Private sale of certificates of participation

Current through Register Vol. 46, No. 28, July 10, 2024
The governing board or the chief fiscal officer, if the
					 governing board has delegated such power to him, may determine that a public
					 sale of certificates of participation is not in the best interests of the
					 political subdivision. The determination of the governing board or chief fiscal
					 officer, as the case may be, shall state that a private sale of such
					 certificates of participation is expected to reduce the cost of financing and
					 set forth the specific factors upon which the governing board or chief fiscal
					 officer has relied on making such determination. The factors recited in such
					 determination may include:
(a)
				  unstable or volatile market conditions;
(b) conditions of fiscal stress or negative
				  credit factors being experienced by the issuer;
(c) the large dollar amount of the proposed
				  issue;
(d) the complexity of the
				  issue; or
(e) any other factor
				  which the governing board or chief fiscal officer, as the case may be,
				  reasonably and in good faith believes will cause the cost of financing to be
				  lower if the certificates of participation are sold at private rather than
				  public sale.
Such determination, if made by the governing board, shall
					 be made by resolution and if made by the chief fiscal officer, shall be made in
					 a certificate filed with the governing board prior to such sale. Upon making
					 the determination required by this paragraph, such certificates of
					 participation may be sold at private sale provided that any underwriters,
					 providers of letters of credit or liquidity facilities, bond counsel and
					 financial advisors to be used in connection with such sale have been selected
					 in accordance with the policies and procedures contained in section
					 37.5(b)-(e) 
					 of this Title. The prior approval of the State Comptroller shall not be
					 required for any private sale of certificates of participation conducted in
					 accordance with the requirements of this paragraph.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter A - Sales Of Bonds And Notes; Debt Statements › Part 39 - Installment Purchase Contracts By Political Subdivisions › Section 39.8 - Solicitation of alternative financing quotations

Current through Register Vol. 46, No. 28, July 10, 2024
The governing board, or if authorized by the governing
					 board, the chief fiscal officer may solicit alternative quotations for
					 financing from qualified interested parties. The political subdivision or chief
					 fiscal officer, as the case may be, shall prepare and maintain written
					 documentation of compliance with this section, including the names and
					 addresses of all qualified interested parties from which financing quotations
					 were sought, the responses received from such parties and written justification
					 of the ultimate selection made. Any political subdivision which enters into an
					 installment purchase contract pursuant to this section shall not permit
					 certificates of participation to be issued in connection therewith except as
					 part of a pooled or aggregate program.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter A - Sales Of Bonds And Notes; Debt Statements › Part 39 - Installment Purchase Contracts By Political Subdivisions › Section 39.9 - Application of periodic payments and proceeds of certificates of participation

Current through Register Vol. 46, No. 28, July 10, 2024
Periodic payments to be made under an installment purchase
					 contract and the proceeds of certificates of participation shall only be
					 applied towards the following:
(a) the
				  cost of the capital improvements being financed;
(b) the payment of interest pursuant to
				  paragraph (e) of subdivision 2 of the General Municipal Law, section
				  109-b;
(c) preliminary costs of surveys, maps,
				  plans, estimates, taking of title and interest during construction;
(d) the establishment of reserve
				  funds;
(e) the cost or premiums of
				  letters of credit, insurance or other credit enhancements;
(f) the costs of bond counsel, financial
				  advisors, underwriters, trustees and paying agents; and
(g) other actual and necessary expenses
				  directly related to the issuance of certificates of participation or execution
				  of the installment purchase contract.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter A - Sales Of Bonds And Notes; Debt Statements › Part 39 - Installment Purchase Contracts By Political Subdivisions › Section 39.10 - Report to the state comptroller

Current through Register Vol. 46, No. 28, July 10, 2024
The political subdivision shall include in its annual
					 report filed with the State Comptroller in accordance with section 31  of the General Municipal Law such
					 information as the Comptroller may require for all installment purchase
					 contracts and certificates of participation that are issued in connection with
					 such installment purchase contracts, including the amount and date of all
					 certificates of participation sold at private sale.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter B - Refunding Of Indebtedness › Part 50 - Refunds Of Indebtedness By Municipalities And School Districts › Section 50.0 - Indebtedness contracted prior to january 1, 1939

Current through Register Vol. 46, No. 28, July 10, 2024
Under section 2 of article 8 of the State Constitution, and
					 section 8  of the General Municipal Law, indebtedness
					 contracted prior to January 1, 1939, may be refunded only with the approval of,
					 and on terms and conditions prescribed by, the State
					 Comptroller.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter B - Refunding Of Indebtedness › Part 50 - Refunds Of Indebtedness By Municipalities And School Districts › Section 50.1 - Application for approval of refunding

Current through Register Vol. 46, No. 28, July 10, 2024
The application for approval of refunding shall be made by
					 a person duly authorized so to do by resolution of the governing
					 board.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter B - Refunding Of Indebtedness › Part 50 - Refunds Of Indebtedness By Municipalities And School Districts › Section 50.2 - Presentation of application

Current through Register Vol. 46, No. 28, July 10, 2024
The application shall be presented to the State Comptroller
					 not less than 60 days prior to the adoption of the annual
					 budget.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter B - Refunding Of Indebtedness › Part 50 - Refunds Of Indebtedness By Municipalities And School Districts › Section 50.3 - Form of application

Current through Register Vol. 46, No. 28, July 10, 2024
The application shall be filed in duplicate on forms
					 prescribed by the State Comptroller.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter C - Cancellation And Destruction Of Obligations › Part 55 - Cancellation And Destruction Of Obligations Of Municipalities, School Districts And District Corporations › Section 55.1 - Cancellation of paid obligations

Current through Register Vol. 46, No. 28, July 10, 2024
Bonds, corporate stock, notes, coupons, or other evidences
					 of indebtedness issued pursuant to the Local Finance Law or any other law, when
					 paid, shall be cancelled in either of the following ways:
(a) by perforating the obligation with the
				  word "Paid", or with the word "Cancelled", or the substantial equivalent of
				  either word, and with words or numbers which will indicate the date of payment.
				  Beneath such perforations and upon the face of the obligation shall be (1)
				  subscribed in ink the name and title of the chief fiscal officer of the issuer
				  or his duly delegated deputy, or the name and title of an officer of the paying
				  agent of the issuer, or (2) a perforated abbreviation of the name of the
				  municipality, school district or district corporation, such as "C of
				  NY".
(b) by writing or stamping in
				  ink the word "Paid" together with the date of payment upon the face of the
				  obligation. Beneath such writing or stamp shall be subscribed in ink the name
				  and title of the chief fiscal officer of the issuer, or his duly delegated
				  deputy, or the name and title of an officer of the paying agent of the issuer.
				  If this method is used, the signature or signatures of the officer or officers
				  upon the obligation shall be cut or torn from the cancelled
				  obligation.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter C - Cancellation And Destruction Of Obligations › Part 55 - Cancellation And Destruction Of Obligations Of Municipalities, School Districts And District Corporations › Section 55.2 - Destruction of cancelled obligations

Current through Register Vol. 46, No. 28, July 10, 2024
Bonds, corporate stocks, notes, coupons, or other evidences
					 of indebtedness issued pursuant to the Local Finance Law or any other law, when
					 paid, may be destroyed, after prior cancellation, by the burning, pulverizing
					 or shredding of such obligations by the chief fiscal officer of the issuer or
					 by his duly delegated deputy or by a duly authorized paying agent, except that
					 registered obligations shall not be destroyed until six years after the date of
					 payment. Such destruction, whether by burning, pulverizing or shredding, shall
					 be effected in such a manner as will render impossible restoration of such
					 obligations to their original form.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter C - Cancellation And Destruction Of Obligations › Part 55 - Cancellation And Destruction Of Obligations Of Municipalities, School Districts And District Corporations › Section 55.3 - Destruction of obligations by registration agents

Current through Register Vol. 46, No. 28, July 10, 2024
A registration agent may destroy bonds, corporate stock,
					 notes and coupons when necessary to comply with the provisions of title 5 of
					 article 2 of the Local Finance Law. Such destruction shall be accomplished by
					 any of the following methods.
(a) By
				  burning, pulverizing or shredding the obligations.
(b) By perforating the obligation with the
				  word "Void", or with the word "Cancelled", or the substantial equivalent of
				  either word, and with words or numbers which will indicate the date upon which
				  the obligation was rendered void. Beneath such perforations and upon the face
				  of the obligations shall be (1) subscribed in ink the name and title of the
				  registration agent of the issuer or his duly delegated deputy, or the name and
				  title of an officer of the bank or trust company acting as registration agent
				  of the issuer, or (2) a perforated abbreviation of the name of the
				  municipality, school district or district corporation, such as "C of
				  NY".
(c) By writing or stamping in
				  ink the word "Void" upon the face of the obligation. Beneath such writing or
				  stamp there shall be written or stamped in ink the date upon which the
				  obligation was rendered void. Beneath such word and date there shall be
				  subscribed in ink the name and title of the registration agent of the issuer or
				  his duly delegated deputy, or the name and title of an officer of a bank or
				  trust company acting as a registration agent of the issuer. If this method is
				  used the signature or signatures of the officer or officers upon the obligation
				  shall be cut or torn from the destroyed obligation.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter C - Cancellation And Destruction Of Obligations › Part 55 - Cancellation And Destruction Of Obligations Of Municipalities, School Districts And District Corporations › Section 55.4 - Cancellation of coupons by counties or cities

Current through Register Vol. 46, No. 28, July 10, 2024
Notwithstanding the provisions of sections
					 55.1
					 and
					 55.3 
					 of this Part, any county or city may cancel paid coupons or may destroy unpaid
					 coupons by perforating the coupon in two places with holes approximately
					 three-sixteenths of an inch in diameter. One of such perforations shall be
					 through the signature and the other through the dollar
					 amount.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter C - Cancellation And Destruction Of Obligations › Part 55 - Cancellation And Destruction Of Obligations Of Municipalities, School Districts And District Corporations › Section 55.5 - Burning, pulverizing or shredding of obligations

Current through Register Vol. 46, No. 28, July 10, 2024
Should obligations be destroyed in the manner set forth in
					 subdivision (b) or (c) of section
					 55.3 
					 of this Part, or in the manner set forth in section
					 55.4 
					 of this Part, they shall be burned, pulverized or shredded within one year from
					 the date of such destruction.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter C - Cancellation And Destruction Of Obligations › Part 55 - Cancellation And Destruction Of Obligations Of Municipalities, School Districts And District Corporations › Section 55.6 - Records to be kept

Current through Register Vol. 46, No. 28, July 10, 2024
A record shall be kept by each chief fiscal officer,
					 registration agent and paying agent of all obligations cancelled or destroyed
					 by them, respectively, which record shall properly describe the obligation
					 cancelled or destroyed and state the date of such cancellation or
					 destruction.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter C - Cancellation And Destruction Of Obligations › Part 55 - Cancellation And Destruction Of Obligations Of Municipalities, School Districts And District Corporations › Section 55.7 - Use of facsimile signature

Current through Register Vol. 46, No. 28, July 10, 2024
Any officer required by this Part to subscribe his name
					 upon an obligation which is to be cancelled or destroyed may use, in lieu of an
					 actual signature, a stamp or other device which will produce in ink a facsimile
					 signature of such officer.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter C - Cancellation And Destruction Of Obligations › Part 55 - Cancellation And Destruction Of Obligations Of Municipalities, School Districts And District Corporations › Section 55.8 - Cancellation and destruction of partially destroyed or defaced obligations

Current through Register Vol. 46, No. 28, July 10, 2024
When new bonds, corporate stock, notes or coupons are to be
					 reissued pursuant to the provisions of section 164.00  of the Local Finance Law, to
					 replace a partially destroyed or defaced obligation, there shall be written or
					 stamped in ink upon the face of the obligation, if possible, or if not possible
					 then upon a paper attached to the obligation, the following words: "Void. New
					 obligation issued pursuant to Section 164.00  of the Local Finance Law
					 on................, 19...." The chief fiscal officer, or his duly delegated
					 deputy, shall subscribe his name and title to such statement. Such partly
					 destroyed or partly defaced obligation shall not be destroyed until six years
					 after the payment of the new obligation issued in lieu thereof, at which time
					 the destruction shall be by burning.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter C - Cancellation And Destruction Of Obligations › Part 55 - Cancellation And Destruction Of Obligations Of Municipalities, School Districts And District Corporations › Section 55.9 - Effective date

Current through Register Vol. 46, No. 28, July 10, 2024
This Part shall take effect immediately and shall be filed
					 in the Department of Audit and Control and a duplicate original copy hereof
					 shall be filed in the Department of State.
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 60.1 - Applications

Current through Register Vol. 46, No. 28, July 10, 2024
Applications submitted to the State Comptroller in
					 accordance with the provisions of section 123.00  of the Local Finance Law shall
					 comply with the provisions of this Part.
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 60.2 - Execution of applications

Current through Register Vol. 46, No. 28, July 10, 2024
The application shall be made by the chief fiscal officer,
					 in the case of a municipality, and by the finance board, in the case of a
					 district corporation. In the event the application is made by a city, village
					 or town for the exclusion of all or part of the outstanding indebtedness of a
					 district corporation, such application shall be made by the chief fiscal
					 officer of such municipality. The application of a chief fiscal officer of a
					 municipality shall be verified by such officer; the application of the finance
					 board of a district corporation shall be verified by such board. If the
					 application is made by the chief fiscal officer, it shall state the title of
					 his office.
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 60.3 - Caption of applications

Current through Register Vol. 46, No. 28, July 10, 2024
The application shall be entitled substantially as
					 follows:
STATE OF NEW YORK-DEPARTMENT OF AUDIT AND CONTROL
In the Matter
of
The application of ( If a municipality, name of chief
					 fiscal officer)
as chief fiscal officer of the (Name of
					 municipality))
for a certificate of the State Comptroller authorizing the
					 exclusion of certain outstanding indebtedness, pursuant to section 123.00  of the Local Finance
					 Law.
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 60.5 - Other requirements

Current through Register Vol. 46, No. 28, July 10, 2024
Each application shall be accompanied by a copy of the most
					 recently adopted budget and a copy of the previously adopted budget of the
					 municipality, of the county or town improvement district, or of the district
					 corporation, as the case may be, unless pursuant to section 54-a  of the State Finance Law or pursuant
					 to some other law, such municipality, improvement district or district
					 corporation has filed copies of such budgets with the State
					 Comptroller.
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 60.6 - Effective date

Current through Register Vol. 46, No. 28, July 10, 2024
This order shall take effect immediately and shall be filed
					 in the Department of Audit and Control and a duplicate original copy hereof
					 shall be filed in the Department of State.
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 61.1 - Form of statement

Current through Register Vol. 46, No. 28, July 10, 2024
A statement submitted by the chief fiscal officer of a city
					 to the State Comptroller, pursuant to section 152.00  of the Local Finance Law, for a
					 certificate of the State Comptroller authorizing the exclusion of housing
					 indebtedness contracted by such city, shall be in the form of a petition and
					 shall be entitled as follows:
STATE OF NEW YORK-DEPARTMENT OF AUDIT AND CONTROL
In the Matter
of
The application of ______, as the chief fiscal officer of
					 the city of ______ for a certificate of the State Comptroller, pursuant to
					 section 152.00  of the Local Finance Law,
					 authorizing the exclusion of certain housing indebtedness of the city in
					 ascertaining the power of the city to contract indebtedness to effectuate any
					 of the purposes of article XVIII of the State Constitution.
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 61.2 - Execution

Current through Register Vol. 46, No. 28, July 10, 2024
The application shall be submitted in duplicate and shall
					 be verified by such chief fiscal officer.
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 61.4 - Application to be available for inspection

Current through Register Vol. 46, No. 28, July 10, 2024
The application shall be filed in the office of the chief
					 fiscal officer of the city prior to the date of the publication of the notice
					 required to be published pursuant to paragraph f of section 152.00  of the Local Finance Law and shall
					 remain on file and available for public inspection for at least two weeks
					 subsequent to the date of the publication of such notice. A copy of such
					 application and of all documents, computations and other data and information
					 which will be submitted to the State Comptroller by the chief fiscal officer of
					 the city in support of the application shall be filed in the office of such
					 chief fiscal officer and shall be public records.
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 61.5 - Affidavits

Current through Register Vol. 46, No. 28, July 10, 2024
The application filed with the State Comptroller shall be
					 accompanied by an affidavit of the chief fiscal officer of the city which shall
					 show due compliance with section
					 61.4 
					 of this Part and shall set forth a copy of the notice published pursuant to
					 paragraph f of section 152.00  of the Local Finance Law and shall
					 show that such notice was duly published. Such affidavit also shall contain a
					 statement that no legal action or proceeding, designed to prevent the
					 submission of such application, has been commenced, or, in the event any such
					 action or proceeding has been commenced, the affidavit shall contain a
					 statement describing any such action or proceeding. Such affidavit also shall
					 state that nothing has been done, or has happened, to the knowledge of the
					 affiant which affects the application or the proceedings thereunder. Such
					 affidavit must be sworn to as of a date at least two weeks subsequent to the
					 date of the publication of the notice required to be published pursuant to
					 paragraph f of section 152.00  of the Local Finance
					 Law.
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 61.6 - Effective date

Current through Register Vol. 46, No. 28, July 10, 2024
This Part shall take effect immediately and shall be filed
					 in the Department of Audit and Control and a duplicate original copy hereof
					 shall be filed in the Department of State.
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 62 - Exclusion Of Sewer Indebtedness In Ascertaining Power Of A Municipality To Contract Indebtedness › Section 62.1 - Applications

Current through Register Vol. 46, No. 28, July 10, 2024
Applications filed with the State Comptroller pursuant to
					 the provisions of section 124.10  of the Local Finance Law shall
					 comply with the provisions of this Part.
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 62 - Exclusion Of Sewer Indebtedness In Ascertaining Power Of A Municipality To Contract Indebtedness › Section 62.2 - Execution of applications

Current through Register Vol. 46, No. 28, July 10, 2024
The application shall be made and verified by the chief
					 fiscal officer of the municipality and shall state the title of his
					 office.
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 62 - Exclusion Of Sewer Indebtedness In Ascertaining Power Of A Municipality To Contract Indebtedness › Section 62.3 - Caption of application

Current through Register Vol. 46, No. 28, July 10, 2024
The application shall be entitled substantially as
					 follows:
STATE OF NEW YORK.. DEPARTMENT OF AUDIT AND
					 CONTROL........................................................................
_______________________________________________________________________________
In the Matter
of
The application of ( (Name of chief fiscal officer))
as chief fiscal officer of the (Name of
					 municipality)
for a certificate of the State Comptroller authorizing the
					 exclusion of sewer indebtedness pursuant to section 124.10  of the Local Finance
					 Law.
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 62 - Exclusion Of Sewer Indebtedness In Ascertaining Power Of A Municipality To Contract Indebtedness › Section 62.5 - Definition of sewage

Current through Register Vol. 46, No. 28, July 10, 2024
For the purpose of this Part the term "sewage" shall have
					 the same meaning as that defined in subdivision (d) of section 1202 of the
					 Public Health Law.
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 62 - Exclusion Of Sewer Indebtedness In Ascertaining Power Of A Municipality To Contract Indebtedness › Section 62.6 - Effective date

Current through Register Vol. 46, No. 28, July 10, 2024
This Part, as amended, shall take effect immediately and
					 shall be filed in the Department of Audit and Control and a duplicate original
					 copy hereof shall be filed in the Department of State.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter E - Administration Of Funds Paid Into Courts Of Record › Part 70 - Administration Of Funds Paid Into Courts Of Record › Section 70.1 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
The term county treasurer includes the Commissioner of
					 Finance of the City of New York, a county treasurer in counties outside the
					 City of New York and any other fiscal officer performing the functions of a
					 county treasurer.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter E - Administration Of Funds Paid Into Courts Of Record › Part 70 - Administration Of Funds Paid Into Courts Of Record › Section 70.2 - Order or certificate to deposit

Current through Register Vol. 46, No. 28, July 10, 2024
Each deposit of money or securities with a county treasurer
					 shall be accompanied by either:
(a) a
				  copy of the judgment, order or decree directing said deposit or payment into
				  court certified by the clerk of the court or by an attorney pursuant to section 2105  of the Civil Practice Law and Rules; or
(b) where the deposit is made without court
				  order, a certificate, under seal of the court having jurisdiction, of the clerk
				  or other officer of the court who received the deposit, in those cases where
				  moneys or securities are deposited or paid into court pursuant to statute. For
				  example, a tender into court, a deposit to discharge a judgment or a mechanic's
				  lien, security for costs in certain cases; deposits of civil bail; a surplus
				  arising upon the sale of property by a sheriff under an execution or by a
				  referee in mortgage foreclosure proceedings by advertising. This certificate
				  shall contain the following information:
(1)
				  name of the court, or source of the receipt;
(2) title of the action or
				  proceeding;
(3) by whom, for whom
				  and for what purpose the deposit is made;
(4) date of the original receipt by the
				  official making the deposit; and
(5) if the deposit consists of cash, the
				  amount thereof, if it be securities, the nature and description of the
				  same.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter E - Administration Of Funds Paid Into Courts Of Record › Part 70 - Administration Of Funds Paid Into Courts Of Record › Section 70.3 - Order for payment

Current through Register Vol. 46, No. 28, July 10, 2024
No payment, investment, surrender or delivery of court
					 funds, property or security may be made by any county treasurer or depository,
					 without a certified copy of an order or decree of the court having jurisdiction
					 of such funds, property and securities, directing each such payment,
					 investment, surrender or delivery. However, payment may be made by a county
					 treasurer without a court order, to the person entitled thereto or his
					 authorized attorney, whenever the amount paid into court, inclusive of interest
					 earned thereon, does not exceed $50.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter E - Administration Of Funds Paid Into Courts Of Record › Part 70 - Administration Of Funds Paid Into Courts Of Record › Section 70.5 - Vouchers

Current through Register Vol. 46, No. 28, July 10, 2024
Either of the following shall be considered a proper
					 voucher for payments of money out of court, by a county treasurer.
(a) A check properly endorsed and bearing
				  proper evidence of payment by the bank on which it was drawn to the person or
				  persons to whom payment was directed to be made.
(b) A proper receipt or voucher signed by the
				  person or persons to whom payment is directed to be made or to whom securities
				  or other property are directed to be assigned or delivered. Said receipt must
				  be filed at the time of any payment, assignment or delivery directed by the
				  order of the court.
(c) A release
				  executed by the person to whom payment is to be made and/or securities are to
				  be assigned or delivered by the county treasurer, without a court order, where
				  the moneys and/or securities, inclusive of interest, do not exceed $50. Said
				  release must be filed prior to the payment, assignment or delivery.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter E - Administration Of Funds Paid Into Courts Of Record › Part 70 - Administration Of Funds Paid Into Courts Of Record › Section 70.6 - Fees

Current through Register Vol. 46, No. 28, July 10, 2024
(a) A county
				  treasurer is entitled only to the fees prescribed by law.
(b) Fees for investing money pursuant to a
				  direction of a court must be taken at the time such investment is
				  made.
(c) Fees for receiving and
				  paying interest on investments must not be taken until such interest is
				  actually paid.
(d) A county
				  treasurer is not entitled to fees for receiving court funds from his
				  predecessor in office nor for delivering such funds to his successor in
				  office.
(e) A county treasurer can
				  waive his right to fees only when such fees belong to him personally, and not
				  to the county.
(f) No entry or
				  payment of fees shall be made in the court and trust fund ledger of a county
				  treasurer until they are actually paid.
(g) Except as hereinafter provided, unless
				  the court specially directs, all fees for payment of money out of court shall
				  be deducted from the amount paid and not from the balance remaining to the
				  credit of the action or proceeding. When no provision for fees is contained in
				  the order directing payment, such fees shall be deducted from each separate
				  amount so directed to be paid except in the following case; if a judgment or
				  other evidence of debt has become a lien upon the funds or portion thereof, or
				  the expenses of litigation, such as referee's fees, county clerk's fees or fees
				  for subpoenaing witnesses, are directed to be paid therefrom, the fees for
				  paying out same shall be deducted from the sum or sums remaining of the share
				  or shares which are to bear such expenses if such sum or sums be sufficient. If
				  they be insufficient, the amount to be applied to such payments shall be the
				  amount remaining of such sum or sums after deducting treasurer's
				  fees.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter II - Municipal Affairs › Subchapter E - Administration Of Funds Paid Into Courts Of Record › Part 70 - Administration Of Funds Paid Into Courts Of Record › Section 70.7 - Books of account of county treasurers and commissioners of finance

Current through Register Vol. 46, No. 28, July 10, 2024
(a) When funds are
				  received by a county treasurer or commissioner of finance, such officer shall
				  forthwith open in the court and trust ledger a separate account for each action
				  and proceeding and shall keep an exact account of all moneys and securities
				  attributable thereto. Each account in such book or books of account shall
				  state:
(1) name of court or source of receipt
				  when not deposited by court order;
(2) title of action or proceeding and action
				  or proceeding number;
(3) date of
				  entry of original order to deposit;
(4) date of original receipt of money or
				  securities;
(5) name of person from
				  whom received;
(6) name of each
				  beneficiary, when known, or purpose for which the deposit is made;
(7) amount of money or securities
				  received;
(8) description of
				  securities received;
(9) name of
				  depository in which the funds are deposited;
(10) each addition of interest;
(11) date and description of each order
				  directing payment;
(12) date and
				  amount of each payment and to whom paid;
(13) each investment, if any, and change
				  thereof; and
(14) such additional
				  data as may be required by the State Comptroller.
These entries must be made in the court and trust fund
					 ledger at the time the underlying transactions occur.