§ 38.10 — Bond anticipation note resolution; form and contents

New York § 38.10

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

Text

§ 38.10 Bond anticipation note resolution; form and contents.\nWhenever the finance board shall authorize the issuance of bond\nanticipation notes or renewals thereof, it shall do so by a "bond\nanticipation note resolution." Each such resolution shall be properly\ndated and shall bear a title which will indicate that it relates to a\nbond anticipation note. Whenever a bond anticipation note has been duly\nauthorized by a chief fiscal officer the certificate required to be\nfiled by such officer pursuant to section 30.00 of this chapter shall\nbear a title which will indicate that it relates to a bond anticipation\nnote. Every such resolution shall contain, in substance, at least the\nfollowing provisions:\n 1. A statement of the specific object or purpose or the class of\nobjects or purposes for which the obligations to be authorized by such\nresolution are to be issued. Such specific object or purpose shall be\ndescribed in brief and general terms sufficient for a reasonable\nidentification.\n 2. A specific reference to the bond resolution or resolutions\nauthorizing the bonds in anticipation of the sale of which such notes\nare to be issued.\n 3. A statement of the amount of bonds to be issued for such specific\nobject or purpose or class of objects or purposes and whether such bonds\nare to be serial or sinking fund bonds.\n 4. A statement of the amount of such bond anticipation notes to be\nissued.\n 5. A statement of the amount of bond anticipation notes which are\noutstanding which had been previously issued in anticipation of the sale\nof such bonds.\n 6. A statement as to whether or not such notes are renewal notes and\nif they are, the date of issuance of the original notes issued in\nanticipation of the sale of such bonds.\n 7. A statement of the period of maturity of such notes.\n 8. A statement indicating whether or not such notes are issued in\nanticipation of bonds for an assessable improvement.\n