New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Appendices › Appendix 5

Current through Register Vol. 46, No. 28, July 10, 2024
Form A. C. 970 (1964 Rev.)
Cities over 125,000 Population
DEBT STATEMENT
OF
_________________
Name of Municipality
________COUNTY, NEW YORK
PREPARED AS OF
________, 19________
Form A. C. 970-1
Cities over 125,000 population
STATE OF NEW YORK
DEPARTMENT OF AUDIT AND CONTROL
DIVISION OF MUNICIPAL AFFAIRS
This is the official debt statement form prescribed for use by
				cities having a population of more 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, except
				that in the case of New York City, such statement must be prepared as of a date
				not more than sixty 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. In the case of New York City, a copy must also be
				filed in the same respective periods of time in the office of the chief fiscal
				officer. 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. The law defines a completed assessment roll as one which has been
				"completed, verified and filed by the assessors." 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 and pension
				exempt properties but exclude the assessed valuations of all other exempt
				properties to the extent they are exempt from general taxation. Full valuation
				(Column 3) is determined as follows: Divide the assessed valuation (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.
6. INCLUSIONS:
Re Item 9, 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.
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,
(Page 1)
Form A. C. 970-2
section 15.10. However, 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 improvements 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
				ther 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 14, 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 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
				water project pursuant to Article II, Title 1-A of the Local Finance
				Law.
(f) Items 15 and 16, 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. 970-3
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 ............ (a)________
4. Contract Liabilities ............ (a)________
Housing Guarantees; Subsidies. ............ (b)________
5. State Loans to Certain Housing Authorities and
Municipalities. 135.00(a, 5). ............ ________
6. Judgments, Claims, Awards and Determinations. ............
				(a)________
7. Indebtedness Contracted by Certain District
Corporations. 135.00(a, 7). ............ ________
8. Pay-As-You-Go Financing. (New York City only)
135.00(a, 8), 122.00 ............ ________
9. Indebtedness Contracted or Incurred Pursuant to
Article II, Title 1-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. ............ (a) ________
(c) Real Property Liabilities. ............ (c) ________
(d) Contract Liabilities. ............ (d) ________
Total Inclusions ............ $________
________
1. Tax and Revenue Obligations. 136.00(1). $ ________
See Instruction 7(a), page 1.
2. Obligations Issued for other than Capital
Improvements. 136.00(1-a). ________
See Instruction 7(b), page 2.
3. Water Indebtedness. 136.00(2). ________
See Instruction 7(c), page 2.
4. Indebtedness Contracted for Self-Liquidating
Projects. 136.00(3). ________
See Instruction 7(d), page 2.
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. Assessable Improvements. (Buffalo, Rochester and
Syracuse only) 136.00(5). ________
8. Indebtedness of a County wholly included within
or Coterminous with a City. ________
9. Indebtedness Permitted to be Excluded Pursuant to
Local Finance Law, section
				136.00(7):
(New York City only)
(b) Indebtedness for Self-Liquidating Dock
Facilities. (b)________
(f) Indebtedness for Self-Liquidating Transit
Facilities. (f)________
10. Indebtedness for Housing and Urban Renewal
Purposes.
(a) ________
Separate according to 136,00(8) (b)________
(c) ________
(d) ________
11. Assets of Sinking Funds. 136.00(10). ________
12. Cash on Hand for Debts. 136.00(11). ________
13. Appropriations. 136.00(12). ________
14. School Indebtedness Excluded Pursuant to Local
Finance Law, section 126.00. ________
(New York City only)
15.
(a) Several Indebtedness Contracted in relation to a Joint
Water Project. 15.20. (a)________
(b) Joint Indebtedness Contracted for such Purpose.
(d) ________
16.
(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. (See
Instruction 7(f), page 2) (b) ________
17.
(a) Several Indebtedness Contracted for a Joint
Sewage or Drainage Project 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. (See In-
Instruction 7(f), page 2) (b)________
Total Exclusions $________
(Page 5)
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Form A. C. 970-7
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
____________
____________
(Page 7)