Enacts the "city of Little Falls deficit financing act" authorizing the city of Little Falls, in the county of Herkimer, to finance certain deficits by the issuance of bonds

Little Falls can borrow for deficits

The law lets the City of Little Falls issue up to $3.4 million in serial bonds by November 30, 2026. The money pays deficits in the general, golf, and water funds expected at the end of 2025, and can roll in the remaining principal of outstanding budget, deficiency, or revenue anticipation notes. The city may also use bond‑anticipation notes. The council must adjust budgets consistent with State Comptroller recommendations, and the mayor must file quarterly budget reports and trial balances within 30 days after each quarter to the common council, the state budget director, the State Comptroller, and the Senate and Assembly finance chairs. Within 90 days after any debt is issued, and each fiscal year while it is outstanding, the mayor must prepare a three‑year financial plan and share it with the same officials. This helps keep services running now, but adds debt that the city may repay with taxes, fees, or future budget changes; the city must notify the State Comptroller at least 15 days before any new bond or note sale or any installment purchase contract, and the Comptroller may review affordability.