§ 980-G — Review by the state comptroller

New York § 980-G

• Jurisdiction: New York
• Law GMU: General Municipal
• Art. 19-A: Business Improvement Districts

Text

§ 980-g. Review by the state comptroller. (a) The state comptroller\nshall review as provided in this section: (1) the establishment or\nextension of a district; and (2) the amendment of a district plan\npursuant to subdivision (c) of section nine hundred eighty-i of this\narticle.\n (b) Within twenty days after the adoption of a local law by a\nlegislative body pursuant to section nine hundred eighty-f or\nsubdivision (c) of section nine hundred eighty-i of this article, the\nchief executive officer, or, except in a municipality having a\npopulation of one million or more, other such officer of the\nmunicipality as the legislative body shall determine, shall forward the\nfollowing information to the state comptroller at Albany, New York:\n (1) an itemized statement of the then outstanding indebtedness of the\nmunicipality for all purposes, as evidenced by bonds, bond anticipation\nnotes, capital notes, deferred payment notes and budget notes; the\namount of budgetary appropriations for the payment of any outstanding\nindebtedness, whether or not appropriations have been realized as cash;\nthe amount of indebtedness proposed to be contracted for the\nimprovement, and the amounts, purposes and probable date of issuance of\nany bonds, bond anticipation notes, capital notes, deferred payments\nnotes and budget notes which the municipality has authorized to be\nissued but which in fact have not been issued to date;\n (2) a statement of the total assessed valuation of the taxable real\nproperty situated in the proposed district or extension of a district,\nas shown on the latest completed and four preceding assessment rolls of\nthe municipality and of the amount of municipal real property taxes\nlevied against such property in the preceding fiscal year;\n (3) a statement of the average full valuation of the taxable real\nproperty of the municipality determined in accordance with the\nprovisions of paragraph seven-a of section 2.00 of the local finance\nlaw; and\n (4) a statement, the form of which shall be determined by the\ncomptroller, attesting that the provisions of this article have been\nmet, signed and verified by the chief executive officer.\n (c) The state comptroller shall then review the information submitted\npursuant to paragraphs one, two and three of subdivision (b) above to\ndetermine that the tax and debt limitations provided in section nine\nhundred eighty-k of this article will not be exceeded by the\nestablishment or extension of the district.\n (d) The state comptroller shall notify the municipality of his or her\ndetermination within sixty days of the receipt of the items specified in\nsubdivision (b) of this section. Unless the state comptroller determines\nthat the tax and debt limitations provided in section nine hundred\neighty-k of this article will be exceeded by the establishment or\nextension of the district or that the statement required by paragraph\nfour of subdivision (b) of this section does not comply with the\nprovisions of such paragraph, the municipality may proceed with the\nestablishment or extension of the district upon receipt of the notice\nfrom the state comptroller of his or her determination.\n (e) Upon the municipality's compliance with any other requirements\nestablished by law, the local law enacted pursuant to section nine\nhundred eighty-f of this article shall become effective.\n