§ 33.00 — Bond resolution and capital note resolution; procedure for enactment thereof

New York § 33.00

• Jurisdiction: New York
• Law LFN: Local Finance
• Title 3: Local Obligations: Authorization Thereof
• Art. 2: Local Indebtedness

Text

§ 33.00 Bond resolution and capital note resolution; procedure for\nenactment thereof. a. Every bond resolution and capital note resolution\nshall be adopted by at least a two-thirds vote of the voting strength of\nthe finance board, except that (1) where a bond resolution or a capital\nnote resolution is subject to mandatory referendum before it shall\nbecome effective or (2) where a bond resolution provides that it shall\nbe submitted to a referendum in the manner authorized by or pursuant to\nthis chapter, a three-fifths vote shall be sufficient. A majority vote\nshall be sufficient for the adoption of a resolution authorizing the\nrenewal of a capital note.\n b. Any village having a population of five thousand or more, as\ndetermined pursuant to the last available federal census, and any city\nmay hereafter adopt, in the manner provided by law, a local law\nrequiring public hearings on all bond resolutions and capital note\nresolutions or on bond resolutions and capital note resolutions\nauthorizing the issuance of obligations for such purposes or amounts as\nmay be specified in such local law. Such a local law shall prescribe the\nprocedure for such public hearings.\n