N.Y. LFN Law § 41.00

§ 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 of a\nchief fiscal officer authorizing the issuance of obligations, dated on\nor after the effective date of this chapter, or\n 2. Any school district may, by resolution, repeal or revoke in whole\nor in part (a) any resolution heretofore or hereafter adopted\nauthorizing the issuance of obligations, at any time after four years\nhave elapsed from the date of the adoption of any such resolution, and\n(b) any certificate of a chief fiscal officer authorizing the issuance\nof obligations, dated on or after the effective date of this chapter, at\nany time after four years have elapsed from the date of any such\ncertificate, or\n 3. Any district corporation may at any time, by resolution, repeal or\nrevoke in whole or in part (a) any resolution heretofore or hereafter\nadopted authorizing the issuance of obligations, and (b) any certificate\nof a chief fiscal officer authorizing the issuance of obligations, dated\non or after the effective date of this chapter,\nexcept to the extent that any indebtedness shall already have been\ncontracted or encumbrances made thereunder for the object or purpose for\nwhich such resolution or certificate authorizes the issuance of\nobligations, whether or not the voting of a special tax or a tax to be\ncollected in installments or the approval of a proposition for the\nexpenditure of money, at a regular or special election or meeting, was a\ncondition precedent to the adoption of such resolution or such\nresolution subsequent to the adoption thereof was submitted and approved\nat a regular or special election or meeting.\n b. Any resolution heretofore or hereafter adopted authorizing the\nissuance of obligations, or any certificate of a chief fiscal officer\nauthorizing the issuance of obligations, dated on or after the effective\ndate of this chapter, unless repealed or revoked at a prior date in the\nmanner provided in paragraph a of this section, shall be deemed to be\nrepealed ten years after the date it becomes effective, except to the\nextent that any indebtedness shall already have been contracted or\nencumbrances made thereunder for the object or purpose for which such\nresolution or certificate authorizes the issuance of obligations.\n