§ 10.00 — Power of municipalities, school districts and district corporations to contract indebtedness

New York § 10.00

• Jurisdiction: New York
• Law LFN: Local Finance
• Title 1: Power to Contract Indebtedness and Periods of Probable Usefulness
• Art. 2: Local Indebtedness

Text

§ 10.00 Power of municipalities, school districts and district\ncorporations to contract indebtedness. In addition to the power to\ncontract indebtedness pursuant to sections 24.00, 25.00, 25.10, 29.00\nand 29.20 of this article, a municipality, school district or district\ncorporation shall have the power to contract indebtedness respectively\nfor any municipal, school district or district corporation object or\npurpose set forth in paragraph a of section 11.00 of this title, or for\na class of such objects or purposes when authorized under the provisions\nof section 31.00 of this article, if it is authorized by law to expend\nmoney for or to accomplish such object or purpose; provided, however,\nthat it shall not be able to contract indebtedness to a greater extent\nthan it is authorized by law to spend money for such object or purpose\nor class of such objects or purposes and provided also that this section\nshall not relieve any such unit of government of any duty imposed by law\nto include in its annual budget or tax levy or otherwise to pay from\ncurrent funds all or part of any expenditure that it may make for such\nobject or purpose or class of such objects or purposes.\n