§ 37.00 — Referenda on bond resolutions or capital note resolutions; school districts

New York § 37.00

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

Text

§ 37.00 Referenda on bond resolutions or capital note resolutions;\nschool districts. a. In a school district other than a city school\ndistrict a bond resolution or a capital note resolution shall not be\nadopted by the finance board thereof unless a tax to be collected in\ninstallments shall have been voted in the manner provided in the\neducation law, as amended from time to time, for the object or purpose\nfor which such resolution authorizes the issuance of obligations. The\nforegoing provisions of this paragraph shall not apply to:\n 1. A bond resolution or capital note resolution adopted by the finance\nboard of a school district authorizing the issuance of bonds or capital\nnotes for the payment of all or part of a judgment, award or a\ncompromised or settled claim against the school district for the\nacquisition of land or rights in land, to the extent that the amount of\nsuch judgment, award or claim exceeds the amount authorized to be\nexpended for such acquisition of land or rights in land, provided such\nexcess amount does not exceed fifteen per centum of the amount so\nauthorized to be expended.\n 2. A bond resolution which authorizes the issuance of bonds pursuant\nto section 92.00 of this chapter where prior to the issuance by a school\ndistrict of the bond anticipation note or notes to be refunded by such\nbonds a tax to be collected in installments has been voted in the manner\nprovided in the education law for the object or purpose for which such\nnote or notes were issued.\n 3. A bond resolution or capital note resolution which authorizes the\nissuance of bonds or capital notes for the payment of judgments, or\ncompromised or settled claims against such a school district, or awards\nor sums payable by such a school district pursuant to a determination by\na court, or an officer, body or agency acting in an administrative or\nquasi-judicial capacity.\n b. In a city school district a bond resolution adopted by the finance\nboard thereof shall not become effective unless a proposition approving\nsuch resolution shall have been adopted at a special or annual school\ndistrict meeting held in accordance with article forty-one and\nfifty-three of the education law. The foregoing provisions of this\nparagraph shall not apply to a bond resolution authorizing the issuance\nof bonds:\n 1. For the payment of judgments, or compromised or settled claims\nagainst such city school district, or awards or sums payable by such\ncity school district pursuant to a determination by a court, or an\nofficer, body or agency acting in an administrative or quasi-judicial\ncapacity; or\n 2. Where a tax to be collected in installments has been voted in the\nmanner provided in the education law, prior to July first, nineteen\nhundred fifty-one, for the object or purpose for which such resolution\nauthorizes the issuance of bonds; or\n 3. Where such resolution authorizes the issuance of bonds pursuant to\nsection 92.00 of this chapter and prior to the issuance by a school\ndistrict of the bond anticipation note or notes to be refunded by such\nbonds a tax to be collected in installments has been voted in the manner\nprovided in the education law for the object or purpose for which such\nnote or notes were issued.\n Notwithstanding the foregoing provisions of this paragraph, the\nfinance board of a city school district may provide in any bond\nresolution or capital note resolution that such resolution, shall not\nbecome effective unless a proposition approving such resolution is\nadopted at a special or annual district meeting held in accordance with\narticle forty-one and fifty-three of the education law.\n