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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.\na. A bond resolution adopted by the finance board of a village shall be\nsubject to a permissive referendum or such resolution may be submitted\nto a referendum by such finance board on its own motion, in the m…
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;\nschool districts. a. In a school district other than a city school\ndistrict a bond resolution or a capital note resolution shall not be\nadopted by the finance board thereof unless a tax to be collected in\nins…
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;\nfire districts and other district corporations. a. A bond resolution or\na capital note resolution adopted by the finance board of a fire\ndistrict shall not become effective unless it shall have been approved\n…
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.\nWhenever the finance board shall authorize the issuance of bond\nanticipation notes or renewals thereof, it shall do so by a "bond\nanticipation note resolution." Each such resolution shall be properly\ndated and sha…
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\nresolution and urban renewal note resolution; form and contents. a.\nWhenever the finance board shall authorize the issuance of tax\nanticipation notes, revenue anticipation notes or urban renewal notes,\nor th…
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\nthereof. a. The issuance of budget notes or renewals thereof shall be\nauthorized by a "budget note resolution." Each such resolution shall be\nproperly dated and shall bear a title which will indicate that it\nre…
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\nthereof. a. The issuance of deficiency notes or renewals thereof shall\nbe authorized by a "deficiency note resolution". Each such resolution\nshall be properly dated and shall bear a title which will indicate…
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:\n 1. Any municipality may at any time, by resolution, repeal or revoke\nin whole or in part (a) any resolution heretofore or hereafter adopted\nauthorizing the issuance of obligations, and (b) any certificate …
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\ntax to be collected in installments is to be voted. Where the voting of\na special tax or a tax to be collected in installments is a condition\nprecedent to the adoption of a bond resolution or capital note\…
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.\nThe finance board shall prescribe the terms, form and contents of bonds\nand notes. However, the finance board may, by resolution, delegate to\nthe chief fiscal officer all or part of such power in relation to …
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\nshall contain a statement of at least the following:\n 1. The type of obligation.\n 2. The amount of the obligation and the total amount of the issue of\nwhich the obligation is a part.\n 3. The date and matur…
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\nmunicipality, school district or district corporation may contain on its\nface a recital in substantially the following form:\n "It is hereby certified and recited that all conditions, acts and\nthings requi…
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\nprescribing the terms, form and contents of bonds may reserve to itself\nthe power to call in and redeem such bonds prior to the date of their\nmaturity. Such power may be exercised upon the giving of notice of suc…
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.\nSubject to the provisions of the financial emergency act for the city of\nNew York but notwithstanding any other law to the contrary:\n (a) To facilitate the marketing of any issue of bonds or notes of the\nci…
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\ncapital budget for the city of New York. Subject to the provisions of\nthe New York State Financial Emergency Act for The City of New York but\nnotwithstanding any other law to the contrary, to facilitate the fund…
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.\nSubject to the provisions of chapter one hundred twenty-two of the laws\nof two thousand three creating the Buffalo fiscal stability authority,\nto facilitate the marketing of any issue of serial bonds or notes of …
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\nprovisions of the New York state financial emergency act of nineteen\nhundred eighty-four for the city of Yonkers, to facilitate the marketing\nof any issue of serial bonds or notes of the city of Yonkers issued on\…
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\nany issue of serial bonds or notes of the county of Erie issued on or\nbefore June thirtieth, two thousand twenty-seven such county may,\nnotwithstanding any limitations on private sales of bonds provided by…
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\nany issue of serial bonds of the city of Utica issued on or before March\nthirty-first, nineteen hundred eighty-eight, such city may,\nnotwithstanding any limitations on private sales of bonds provided by\nlaw…
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\nfacilitate the marketing of any issue of bonds of the city of Niagara\nFalls, Niagara county, issued on or before June thirtieth, nineteen\nhundred ninety-nine, such city may, notwithstanding any limitations on\np…
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\nmarketing of any issue of serial bonds of the city of Lackawanna\nauthorized to be issued pursuant to section two of the chapter of the\nlaws of nineteen hundred ninety which enacted this section, issued for\nthe purp…
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\nmarketing of any issue of serial bonds or notes of the city of Troy\nissued on or before December thirty-first, nineteen hundred ninety-nine\nsuch city may, notwithstanding any limitations on private sales of bonds…
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.\nWhenever in the judgment of the finance board the interest of a\nmunicipality would be served thereby, the municipality may issue bonds\nor notes, on or before July fifteenth, two thousand twenty-seven, with…
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\nthe terms, form and contents of bonds shall provide for the issuance of\nbonds in either or both of the following forms:\n 1. Bonds payable to bearer with coupons attached for the payment of\ninterest to beare…
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\nor note shall not provide for the notation of payments of principal\nthereon. Only one bond or note shall be set forth in a single instrument\nand such bond or note, when paid, shall be surrendered for cance…
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\nshall be vested with the powers and duties prescribed in sections 21.00,\n57.00, 58.00, 59.00, 60.00, 62.00 and 63.00 of this chapter, and any\nother powers or duties pertaining or incidental to the sale and i…
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\nin accordance with the procedure set forth in this section and sections\n58.00 and 59.00 of this title, except as otherwise provided in this\nparagraph. Bonds may be sold at private sale to the United States\…
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\nbasis. The state comptroller shall promulgate rules in conformance with\nthe state administrative procedure act governing the sale of bonds and\nnotes on a negotiated basis as authorized by sections 54.90 and 57.0…
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\nleast once, not less than five nor more than thirty days before the date\nfixed for the public sale of bonds, a notice of such public sale or a\nsummary thereof in accordance with one of the following methods: (…
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.\nAs used in this section:\n 1. "Municipality" means a county, or a city or town with a population\nof one hundred thousand or more that has issued at least twenty-five\nmillion dollars in bonds within at least …
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\nbe opened publicly at the time and place stated in the notice of sale,\nand not before, and shall be publicly announced. Prior to the time fixed\nfor such public opening of bids, a sealed bid may be amended b…
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\nprivate sale, but they shall not be sold on option or on a deferred\npayment plan, except as authorized by paragraph a of section 57.00 of\nthis chapter.\n b. Notes may be sold without limitation as to rate of inte…
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\nauthorized. a. The agency selling notes of a municipality, school\ndistrict or district corporation may sell such notes at private sale to\na bank or trust company of which an officer or employee of the\nmunicipa…
N.Y. Local Finance Law § 61.00 Execution of obligations
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§ 61.00 Execution of obligations. a. All obligations, including\ninterim bonds, shall be executed in the name of the municipality, school\ndistrict or district corporation by the chief fiscal officer unless the\nfinance board shall, by resolution, designate a different officer 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\nmunicipality, school district or district corporation may issue interim\nbonds pending the printing or engraving and delivery of bonds in\ndefinitive form. Such interim bonds shall be of substantially the same…
N.Y. Local Finance Law § 62.10 Statutory installment bonds
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§ 62.10 Statutory installment bonds. a. Notwithstanding any other\nprovisions of this chapter, if the principal amount for an object or\npurpose, or objects or purposes, or class or classes thereof, to be\nfinanced by the issuance of bonds does not exceed five million dollars\ni…
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,\nbonds of an issue not exceeding five million dollars, whether of a\nsingle issue or sold as a single issue pursuant to paragraph c of\nsection 57.00 of this chapter, having a maximum maturity of not more\nthan…
N.Y. Local Finance Law § 63.10 Cancellation of obligations
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§ 63.10. Cancellation of obligations. When obligations are paid,\nnotwithstanding the provisions of any other general, special or local\nlaw or of article forty-six of the education law relating to public\nrecords, they shall be cancelled or destroyed in such manner as the\nstat…
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\ntitle shall mean:\n 1. In counties, the chief fiscal officer thereof, unless the finance\nboard shall designate a different officer.\n 2. In cities, the chief fiscal officer thereof.\n 3. In towns and villages, th…
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\ncoupon bond so provides, the holder thereof may present such bond to the\nregistration agent with a written request for its conversion into a\nregistered bond. The registration agent shall thereupon cut off and\n…
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\nregistered bonds. a. If a coupon bond issued prior or subsequent to the\neffective date of this chapter has been converted into a registered\nbond, the registered holder, or his legal representatives, successor…
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\nissue in registered form, if it so provides, shall be converted into a\ncoupon bond at the request of the registered holder, or his legal\nrepresentatives, successors or transferees, in the same manner as is\npr…
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\nbearer, if it so provides, shall be converted into a registered note at\nthe request of the holder. The registration agent shall register such\nnote in his books in the name of the holder and endorse a certifica…
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\nconverted into registered form in the manner provided in section 71.00\nof this chapter and, at the request of the owner, a bond issued in\nregistered form or a note issued in registered form or which provides…
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\ncontain estoppel clause. The resolution of a finance board authorizing\nthe issuance of bonds or notes, or the certificate of a chief fiscal\nofficer authorizing the issuance of notes, may, in the discretion of the…
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\nestoppel clause; publication and notice. a. If a resolution of a finance\nboard authorizing the issuance of bonds or notes or the certificate of a\nchief fiscal officer authorizing the issuance of notes cont…
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\nresolution, summary of such resolution or certificate together with such\na notice, the validity of the obligations authorized thereby may be\ncontested only if:\n 1. Such obligations were authorized for an obj…
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.\na. If an action, suit or proceeding contesting the validity of the\nobligations authorized by such resolution or certificate is commenced\nwithin twenty days from the date of publication of such resolution,\…
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\nobligations issued pursuant to a resolution or certificate published in\nthe manner provided in this title contain a recital in substantially the\nform prescribed in section 52.00 of this chapter, such recital shall\n…
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\nthis title, other than section 85.80, shall be applicable to the city of\nNew York. The provisions of this title shall be applicable (a) only to\na municipality , other than the city of New York, with respect …