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Statutes » New York » LFN Law » Article 2

N.Y. LFN Law § 10.00

This is the official text of N.Y. LFN Law § 10.00, part of New York’s LFN Law — part of the compiled statutory law of New York, published by the state as "LFN Law." Browse the sections below, each linked to its official government source.

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Power of municipalities, school districts and district corporations to contract indebtedness

Official statutory text

§ 10.00 Power of municipalities, school districts and district\ncorporations to contract indebtedness. In addition to the power to\ncontract indebtedness pursuant to sections 24.00, 25.00, 25.10, 29.00\nand 29.20 of this article, a municipality, school district or district\ncorporation shall have the power to contract indebtedness respectively\nfor any municipal, school district or district corporation object or\npurpose set forth in paragraph a of section 11.00 of this title, or for\na class of such objects or purposes when authorized under the provisions\nof section 31.00 of this article, if it is authorized by law to expend\nmoney for or to accomplish such object or purpose; provided, however,\nthat it shall not be able to contract indebtedness to a greater extent\nthan it is authorized by law to spend money for such object or purpose\nor class of such objects or purposes and provided also that this section\nshall not relieve any such unit of government of any duty imposed by law\nto include in its annual budget or tax levy or otherwise to pay from\ncurrent funds all or part of any expenditure that it may make for such\nobject or purpose or class of such objects or purposes.\n

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.