N.Y. SCC Law § 60
This is the official text of N.Y. SCC Law § 60, part of New York’s SCC Law — part of the compiled statutory law of New York, published by the state as "SCC Law." Browse the sections below, each linked to its official government source.
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Temporary and funded debts
Official statutory text
§ 60. Temporary and funded debts. (a) Whenever the finance board, as\nthat term is defined in section 2.00 of the local finance law, shall\nauthorize the issuance of bonds or notes, it shall do so by ordinance.\n (b) Provision shall be made for the payment of each annual installment\nof a funded debt and accrued interest on such funded debt in the year in\nwhich such principal and interest shall become due by the insertion of\nthe proper sum in the annual estimate for the year in question. Bonds\nissued to provide for the supply of water may be paid out of water rents\nreceived by the city.\n
Status: in_force · Read it on the official government site
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