§ 99-D — Planning for future capital improvements

§ 99-d. Planning for future capital improvements. 1. Notwithstanding\nthe provisions of any general, special or local law, the governing board\nor other appropriate authority of a municipal corporation, school\ndistrict or district corporation may authorize the preparation of\nsurveys, preliminary plans and detailed plans, specifications and\nestimates necessary for planning for a capital improvement which it is\ncontemplated might be undertaken in the future and may provide for the\nmanner in which the cost thereof shall be financed, subject, however, to\nthe applicable provisions of any general, special or local law\nrespecting the issuance of bonds or notes.\n 2. The total amount of bonds or capital notes which may be authorized\nin any fiscal year of the municipal corporation, school district or\ndistrict corporation to finance such advance planning pursuant to this\nsection shall not exceed the maximum amount of budget notes which it may\nissue in such year pursuant to subdivision two or subdivision three of\nparagraph a of section 29.00 of the local finance law, as the case may\nbe, provided, however, that for the purposes of this subdivision,\namounts which are to be paid in the first instance from improvement\ndistrict assessments shall be included in computing "the amount of the\nannual budget" of a town or a county in accordance with section 29.00 of\nsuch law.\n 3. If the advance planning is undertaken for the purpose of an\nexisting or proposed county or town improvement district, or any\nextension thereof, the existing district, or the proposed district when\ncreated, or the extension thereof, shall reimburse the county or town\nfor the cost of such advance planning, including any interest on any\nobligations issued to finance such cost. The amount so reimbursed shall\nbe applied first to the payment of any outstanding obligations issued to\nfinance such expenditure.\n