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0 chapters · 164 sections in this title.
N.Y. Local Finance Law § 36.00 Bond resolution subject to permissive referendum; villages
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§ 36.00 Bond resolution subject to permissive referendum; villages. a. A bond resolution adopted by the finance board of a village shall be subject to a permissive referendum or such resolution may be submitted to a referendum by such finance board on its own motion, in the mann…
N.Y. Local Finance Law § 37.00 Referenda on bond resolutions or capital note resolutions; school districts
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§ 37.00 Referenda on bond resolutions or capital note resolutions; school districts. a. In a school district other than a city school district a bond resolution or a capital note resolution shall not be adopted by the finance board thereof unless a tax to be collected in install…
N.Y. Local Finance Law § 38.00 Referenda on bond resolutions or capital note resolutions; fire districts and other district corporations
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§ 38.00 Referenda on bond resolutions or capital note resolutions; fire districts and other district corporations. a. A bond resolution or a capital note resolution adopted by the finance board of a fire district shall not become effective unless it shall have been approved at a…
N.Y. Local Finance Law § 38.10 Bond anticipation note resolution; form and contents
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§ 38.10 Bond anticipation note resolution; form and contents. Whenever the finance board shall authorize the issuance of bond anticipation notes or renewals thereof, it shall do so by a "bond anticipation note resolution." Each such resolution shall be properly dated and shall b…
N.Y. Local Finance Law § 39.00 Tax anticipation note resolution, revenue anticipation note resolution and urban renewal note resolution; form and contents
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§ 39.00 Tax anticipation note resolution, revenue anticipation note resolution and urban renewal note resolution; form and contents. a. Whenever the finance board shall authorize the issuance of tax anticipation notes, revenue anticipation notes or urban renewal notes, or the re…
N.Y. Local Finance Law § 40.00 Budget note resolution; form and contents; authorization thereof
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§ 40.00 Budget note resolution; form and contents; authorization thereof. a. The issuance of budget notes or renewals thereof shall be authorized by a "budget note resolution." Each such resolution shall be properly dated and shall bear a title which will indicate that it relate…
N.Y. Local Finance Law § 40.10 Deficiency note resolution; form and contents; authorization thereof
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§ 40.10 Deficiency note resolution; form and contents; authorization thereof. a. The issuance of deficiency notes or renewals thereof shall be authorized by a "deficiency note resolution". Each such resolution shall be properly dated and shall bear a title which will indicate th…
N.Y. Local Finance Law § 41.00 Repeal of unexpended authorizations
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§ 41.00 Repeal of unexpended authorizations. a. The finance board of: 1. Any municipality may at any time, by resolution, repeal or revoke in whole or in part (a) any resolution heretofore or hereafter adopted authorizing the issuance of obligations, and (b) any certificate of a…
N.Y. Local Finance Law § 41.10 Contents of notice of meeting or election where special tax or tax to be collected in installments is to be voted
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§ 41.10 Contents of notice of meeting or election where special tax or tax to be collected in installments is to be voted. Where the voting of a special tax or a tax to be collected in installments is a condition precedent to the adoption of a bond resolution or capital note res…
N.Y. Local Finance Law § 50.00 Agency prescribing terms, form and contents of obligations
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§ 50.00 Agency prescribing terms, form and contents of obligations. The finance board shall prescribe the terms, form and contents of bonds and notes. However, the finance board may, by resolution, delegate to the chief fiscal officer all or part of such power in relation to eve…
N.Y. Local Finance Law § 51.00 Terms, form and contents of obligations
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§ 51.00 Terms, form and contents of obligations. Every bond and note shall contain a statement of at least the following: 1. The type of obligation. 2. The amount of the obligation and the total amount of the issue of which the obligation is a part. 3. The date and maturity of t…
N.Y. Local Finance Law § 52.00 Recital of validity in obligations
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§ 52.00 Recital of validity in obligations. Any obligation issued by a municipality, school district or district corporation may contain on its face a recital in substantially the following form: "It is hereby certified and recited that all conditions, acts and things required b…
N.Y. Local Finance Law § 53.00 Obligations redeemable prior to maturity
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§ 53.00 Obligations redeemable prior to maturity. a. The agency prescribing the terms, form and contents of bonds may reserve to itself the power to call in and redeem such bonds prior to the date of their maturity. Such power may be exercised upon the giving of notice of such c…
N.Y. Local Finance Law § 54.10 Bonds and notes of the city of New York; certain provisions
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§ 54.10 Bonds and notes of the city of New York; certain provisions. Subject to the provisions of the financial emergency act for the city of New York but notwithstanding any other law to the contrary: (a) To facilitate the marketing of any issue of bonds or notes of the city of…
N.Y. Local Finance Law § 54.20 Funding of capital expenditures duly appropriated in the capital budget for the city of New York
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§ 54.20 Funding of capital expenditures duly appropriated in the capital budget for the city of New York. Subject to the provisions of the New York State Financial Emergency Act for The City of New York but notwithstanding any other law to the contrary, to facilitate the funding…
N.Y. Local Finance Law § 54.30 Costs of sales; bonds and notes of the city of Buffalo
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§ 54.30 Costs of sales; bonds and notes of the city of Buffalo. Subject to the provisions of chapter one hundred twenty-two of the laws of two thousand three creating the Buffalo fiscal stability authority, to facilitate the marketing of any issue of serial bonds or notes of the…
N.Y. Local Finance Law § 54.40 Bonds and notes of the city of Yonkers
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§ 54.40 Bonds and notes of the city of Yonkers. Subject to the provisions of the New York state financial emergency act of nineteen hundred eighty-four for the city of Yonkers, to facilitate the marketing of any issue of serial bonds or notes of the city of Yonkers issued on or …
N.Y. Local Finance Law § 54.50 Costs of sales; county of Erie
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§ 54.50 Costs of sales; county of Erie. To facilitate the marketing of any issue of serial bonds or notes of the county of Erie issued on or before June thirtieth, two thousand twenty-seven such county may, notwithstanding any limitations on private sales of bonds provided by la…
N.Y. Local Finance Law § 54.60 Cost of sales; city of Utica
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§ 54.60 Cost of sales; city of Utica. To facilitate the marketing of any issue of serial bonds of the city of Utica issued on or before March thirty-first, nineteen hundred eighty-eight, such city may, notwithstanding any limitations on private sales of bonds provided by law, an…
N.Y. Local Finance Law § 54.70 Cost of sales; city of Niagara Falls, Niagara county
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§ 54.70 Cost of sales; city of Niagara Falls, Niagara county. To facilitate the marketing of any issue of bonds of the city of Niagara Falls, Niagara county, issued on or before June thirtieth, nineteen hundred ninety-nine, such city may, notwithstanding any limitations on priva…
N.Y. Local Finance Law § 54.80 Cost of sales; city of Lackawanna
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§ 54.80 Cost of sales; city of Lackawanna. To facilitate the marketing of any issue of serial bonds of the city of Lackawanna authorized to be issued pursuant to section two of the chapter of the laws of nineteen hundred ninety which enacted this section, issued for the purposes…
N.Y. Local Finance Law § 54.85 Bonds and notes of the city of Troy
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§ 54.85. Bonds and notes of the city of Troy. To facilitate the marketing of any issue of serial bonds or notes of the city of Troy issued on or before December thirty-first, nineteen hundred ninety-nine such city may, notwithstanding any limitations on private sales of bonds pr…
N.Y. Local Finance Law § 54.90 Issuance of bonds or notes with variable rates of interest
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§ 54.90 Issuance of bonds or notes with variable rates of interest. a. Whenever in the judgment of the finance board the interest of a municipality would be served thereby, the municipality may issue bonds or notes, on or before July fifteenth, two thousand twenty-seven, with in…
N.Y. Local Finance Law § 55.00 Bearer and registered obligations
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§ 55.00 Bearer and registered obligations. a. The agency prescribing the terms, form and contents of bonds shall provide for the issuance of bonds in either or both of the following forms: 1. Bonds payable to bearer with coupons attached for the payment of interest to bearer, an…
N.Y. Local Finance Law § 55.10 Endorsements of principal payments on bonds and notes
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§ 55.10. Endorsements of principal payments on bonds and notes. A bond or note shall not provide for the notation of payments of principal thereon. Only one bond or note shall be set forth in a single instrument and such bond or note, when paid, shall be surrendered for cancella…
N.Y. Local Finance Law § 56.00 Agency selling and issuing obligations
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§ 56.00 Agency selling and issuing obligations. a. The finance board shall be vested with the powers and duties prescribed in sections 21.00, 57.00, 58.00, 59.00, 60.00, 62.00 and 63.00 of this chapter, and any other powers or duties pertaining or incidental to the sale and issu…
N.Y. Local Finance Law § 57.00 Sale of bonds
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§ 57.00 Sale of bonds. a. Bonds shall be sold only at public sale and in accordance with the procedure set forth in this section and sections 58.00 and 59.00 of this title, except as otherwise provided in this paragraph. Bonds may be sold at private sale to the United States gov…
N.Y. Local Finance Law § 57.10 Guidelines for sale of bonds and notes on a negotiated basis
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* § 57.10 Guidelines for sale of bonds and notes on a negotiated basis. The state comptroller shall promulgate rules in conformance with the state administrative procedure act governing the sale of bonds and notes on a negotiated basis as authorized by sections 54.90 and 57.00 o…
N.Y. Local Finance Law § 58.00 Notice of sale of bonds
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§ 58.00 Notice of sale of bonds. * a. There shall be published, at least once, not less than five nor more than thirty days before the date fixed for the public sale of bonds, a notice of such public sale or a summary thereof in accordance with one of the following methods: (1) …
N.Y. Local Finance Law § 58.10 Electronic open auction public bond sale pilot program
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* § 58.10 Electronic open auction public bond sale pilot program. a. As used in this section: 1. "Municipality" means a county, or a city or town with a population of one hundred thousand or more that has issued at least twenty-five million dollars in bonds within at least one o…
N.Y. Local Finance Law § 59.00 Bids opened publicly; amendments; awards
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§ 59.00 Bids opened publicly; amendments; awards. * a. All bids shall be opened publicly at the time and place stated in the notice of sale, and not before, and shall be publicly announced. Prior to the time fixed for such public opening of bids, a sealed bid may be amended by a…
N.Y. Local Finance Law § 60.00 Sale of notes
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§ 60.00 Sale of notes. a. Notes may be sold at either public or private sale, but they shall not be sold on option or on a deferred payment plan, except as authorized by paragraph a of section 57.00 of this chapter. b. Notes may be sold without limitation as to rate of interest,…
N.Y. Local Finance Law § 60.10 Sale of obligations to certain banks and trust companies authorized
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§ 60.10. Sale of obligations to certain banks and trust companies authorized. a. The agency selling notes of a municipality, school district or district corporation may sell such notes at private sale to a bank or trust company of which an officer or employee of the municipality…
N.Y. Local Finance Law § 61.00 Execution of obligations
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§ 61.00 Execution of obligations. a. All obligations, including interim bonds, shall be executed in the name of the municipality, school district or district corporation by the chief fiscal officer unless the finance board shall, by resolution, designate a different officer or o…
N.Y. Local Finance Law § 62.00 Interim bonds
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§ 62.00 Interim bonds. The agency selling and issuing the bonds of a municipality, school district or district corporation may issue interim bonds pending the printing or engraving and delivery of bonds in definitive form. Such interim bonds shall be of substantially the same fo…
N.Y. Local Finance Law § 62.10 Statutory installment bonds
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§ 62.10 Statutory installment bonds. a. Notwithstanding any other provisions of this chapter, if the principal amount for an object or purpose, or objects or purposes, or class or classes thereof, to be financed by the issuance of bonds does not exceed five million dollars in th…
N.Y. Local Finance Law § 63.00 Bond issues of certain amounts
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§ 63.00 Bond issues of certain amounts. a. When sold at public sale, bonds of an issue not exceeding five million dollars, whether of a single issue or sold as a single issue pursuant to paragraph c of section 57.00 of this chapter, having a maximum maturity of not more than fiv…
N.Y. Local Finance Law § 63.10 Cancellation of obligations
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§ 63.10. Cancellation of obligations. When obligations are paid, notwithstanding the provisions of any other general, special or local law or of article forty-six of the education law relating to public records, they shall be cancelled or destroyed in such manner as the state co…
N.Y. Local Finance Law § 70.00 Fiscal agent
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§ 70.00 Fiscal agent. a. The term "fiscal agent" as used in this title shall mean: 1. In counties, the chief fiscal officer thereof, unless the finance board shall designate a different officer. 2. In cities, the chief fiscal officer thereof. 3. In towns and villages, the clerk …
N.Y. Local Finance Law § 71.00 Conversion of coupon bonds into registered bonds
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§ 71.00 Conversion of coupon bonds into registered bonds. a. If a coupon bond so provides, the holder thereof may present such bond to the registration agent with a written request for its conversion into a registered bond. The registration agent shall thereupon cut off and dest…
N.Y. Local Finance Law § 72.00 Reconversion of coupon bonds which have been converted into registered bonds
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§ 72.00 Reconversion of coupon bonds which have been converted into registered bonds. a. If a coupon bond issued prior or subsequent to the effective date of this chapter has been converted into a registered bond, the registered holder, or his legal representatives, successors, …
N.Y. Local Finance Law § 73.00 Conversion and reconversion of registered bonds
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§ 73.00 Conversion and reconversion of registered bonds. a. A bond issue in registered form, if it so provides, shall be converted into a coupon bond at the request of the registered holder, or his legal representatives, successors or transferees, in the same manner as is provid…
N.Y. Local Finance Law § 74.00 Conversion and reconversion of notes
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§ 74.00 Conversion and reconversion of notes. a. A note payable to bearer, if it so provides, shall be converted into a registered note at the request of the holder. The registration agent shall register such note in his books in the name of the holder and endorse a certificate …
N.Y. Local Finance Law § 75.00 Registration of obligations
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§ 75.00 Registration of obligations. a. A coupon bond which has been converted into registered form in the manner provided in section 71.00 of this chapter and, at the request of the owner, a bond issued in registered form or a note issued in registered form or which provides th…
N.Y. Local Finance Law § 80.00 Bond resolution, or note resolution or certificate, may contain estoppel clause
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§ 80.00 Bond resolution, or note resolution or certificate, may contain estoppel clause. The resolution of a finance board authorizing the issuance of bonds or notes, or the certificate of a chief fiscal officer authorizing the issuance of notes, may, in the discretion of the fi…
N.Y. Local Finance Law § 81.00 Bond resolution, or note resolution or certificate, containing estoppel clause; publication and notice
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§ 81.00 Bond resolution, or note resolution or certificate, containing estoppel clause; publication and notice. a. If a resolution of a finance board authorizing the issuance of bonds or notes or the certificate of a chief fiscal officer authorizing the issuance of notes contain…
N.Y. Local Finance Law § 82.00 Twenty day period of limitation
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§ 82.00 Twenty day period of limitation. After the publication of a resolution, summary of such resolution or certificate together with such a notice, the validity of the obligations authorized thereby may be contested only if: 1. Such obligations were authorized for an object o…
N.Y. Local Finance Law § 83.00 Contesting of validity of obligations; substantial compliance
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§ 83.00 Contesting of validity of obligations; substantial compliance. a. If an action, suit or proceeding contesting the validity of the obligations authorized by such resolution or certificate is commenced within twenty days from the date of publication of such resolution, sum…
N.Y. Local Finance Law § 84.00 Effect of recital of validity in obligations
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§ 84.00 Effect of recital of validity in obligations. If the obligations issued pursuant to a resolution or certificate published in the manner provided in this title contain a recital in substantially the form prescribed in section 52.00 of this chapter, such recital shall bind…
N.Y. Local Finance Law § 85.00 Limitation of provisions; emergency period
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§ 85.00 Limitation of provisions; emergency period. No provisions of this title, other than section 85.80, shall be applicable to the city of New York. The provisions of this title shall be applicable (a) only to a municipality , other than the city of New York, with respect to …