§ 160.00 Action by finance board. Whenever in this chapter the finance board is empowered or required to act, and no proportion of voting strength for such action is prescribed, such action shall be taken by at least a majority vote of the voting strength of such finance board.
§ 160.05. Financial restructuring board for local governments. 1. There shall be a financial restructuring board for local governments which shall consist of ten members: the director of the budget who shall be chair of the board, the attorney general, the state comptroller, and the secretary of state, each of whom may designate a representative […]
§ 160.10 Delegation to a deputy. Whenever pursuant to this chapter the finance board delegates any power or duty to the chief fiscal officer, unless the finance board specifies otherwise when it makes such delegation, the chief fiscal officer may authorize a deputy to exercise such power or perform such duty. Such authorization shall be […]
§ 161.00 Negotiability of obligations. All bonds and notes of a municipality, school district or district corporation, including notes issued by a city school district pursuant to section 26.00 of this chapter, whether payable to bearer or in registered form, shall be negotiable instruments within the meaning of article eight of the uniform commercial code, […]
§ 162.00 Exemption from taxation. All bonds and notes of a municipality, school district or district corporation, until payable, and the interest thereon, shall be exempt from taxation for municipal and state purposes.
§ 163.00 Record of obligations. a. The chief fiscal officer in counties and cities, the clerk in towns and villages, the clerk or secretary or such other officer as the finance board shall designate in school districts and district corporations, shall keep a complete record of each issue of bonds and notes, which shall include: […]
§ 164.00 Reissuance of lost, destroyed, partially destroyed or defaced obligations. a. The finance board may issue a new bond, note or coupon to replace one lost, destroyed, partially destroyed or defaced. However, the finance board may, by resolution, delegate such power to the chief fiscal officer or the fiscal agent, as the term “fiscal […]
§ 165.00 Deposit and use of proceeds from sale of bonds, bond anticipation notes, capital notes, urban renewal notes or budget notes. a. The proceeds, inclusive of premiums, from the sale of bonds, bond anticipation notes, capital notes, urban renewal notes or budget notes shall be deposited and secured in a special account in the […]
§ 165.10. Advances from funds. If there are funds of a municipality, school district or district corporation, other than: 1. The proceeds of bonds, bond anticipation notes, capital notes, urban renewal notes and budget notes, and 2. Funds which, by law, may be used only for stated purposes, which are not immediately required for the […]
§ 165.20 Exchange of certain bonds or notes. Notwithstanding any other provisions of this chapter, the city of New York prior to July first, nineteen hundred eighty-two shall be authorized to exchange bonds or notes of such city for any notes of such city held by the municipal assistance corporation for the city of New […]
§ 166.00 Action against municipal officers. a. The holder in due course of any bond, note or interest bearing coupon issued due to the malfeasance, misfeasance, or negligence of any officer of a municipality, school district or district corporation, whose cause of action thereon is determined by judgment, or who is privy to such action, […]
§ 167.00 Action against municipality; appeals. An appeal from a judgment in an action against a municipality, school district or district corporation on a bond, note or interest bearing coupon, may be taken by any person bound as a privy by such judgment, within sixty days after the service of a copy of the judgment […]
§ 168.00 Agreements for credit enhancement. a. The finance board of any municipality, school district or district corporation (herein a “public body”) is hereby authorized and empowered to enter into such agreements as it deems reasonable and appropriate, with any department or agency of the United States of America, the state, or any other financially […]
* § 169.00 Installment loans and obligations evidencing installment loans. a. Notwithstanding the provisions of any other law, general, special or local, inconsistent with this section, relating to the power of municipalities to enter into contracts and to contract indebtedness, the finance board of any municipality selling bonds or notes at private sale to the […]
