N.Y. LFN Law § 137.00

§ 137.00 Debt statement of school districts outside cities with one\nhundred twenty-five thousand inhabitants or more according to the latest\nfederal census. The debt statement of a school district, other than a\nschool district in a city with one hundred twenty-five thousand\ninhabitants or more according to the latest federal census, shall\ncontain the following items of indebtedness for the purpose of showing\nthe indebtedness of such school district:\n 1. The amount of\n (a) Outstanding bonds;\n (b) Outstanding bond anticipation notes, other than those issued in\nanticipation of the bonds of the issue in connection with which the debt\nstatement is prepared;\n (c) Bonds of the proposed issue in connection with which the debt\nstatement is prepared; and\n (d) Bond anticipation notes proposed to be issued where a debt\nstatement is prepared in connection with the issuance of such notes.\n 2. The amount of indebtedness of a merged or annexed school district\ndetermined pursuant to section 121.10 of this article.\n For the purpose of showing the indebtedness of a school district,\nother than a school district in a city with one hundred twenty-five\nthousand inhabitants or more according to the latest federal census,\nthere may be deducted the amount of any such indebtedness which has been\ncontracted or is proposed to be contracted to the extent provided in\nsection 121.20 of this article, and in such case a certified copy of the\nestimate of the commissioner of education shall be attached to and form\na part of the debt statement filed with the state comptroller and the\nclerk of the school district.\n For the purpose of showing the indebtedness of a school district other\nthan a school district in a city with one hundred twenty-five thousand\ninhabitants or more according to the latest federal census, there may be\ndeducted the amount of indebtedness contracted, or indebtedness proposed\nto be contracted, for the purpose and to the extent provided in section\n121.30 of this article.\n In connection with the sale of bond anticipation notes, a school\ndistrict may prepare a debt statement and may file such statement in the\nmanner provided in section 109.00 of this article.\n