§ 56.00 — Agency selling and issuing obligations

New York § 56.00

• Jurisdiction: New York
• Law LFN: Local Finance
• Title 4: Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof
• Art. 2: Local Indebtedness

Text

§ 56.00 Agency selling and issuing obligations. a. The finance board\nshall be vested with the powers and duties prescribed in sections 21.00,\n57.00, 58.00, 59.00, 60.00, 62.00 and 63.00 of this chapter, and any\nother powers or duties pertaining or incidental to the sale and issuance\nof obligations. However, the finance board of any municipality, school\ndistrict or district corporation may, by resolution, delegate all or\npart of such powers and duties to the chief fiscal officer or, in the\ncase of school districts, to the clerk of the school board, in which\nevent such chief fiscal officer or clerk of the school board, as the\ncase may be, shall exercise such powers and perform such duties until\nthe finance board shall, by resolution, elect to reassume the same.\n b. In such instances in which the chief fiscal officer or clerk of the\nschool board, as the case may be, exercises such powers and performs\nsuch duties, the same shall be exercised or performed subject to such\nterms and conditions, not inconsistent with the provisions of this\nchapter, as the finance board may prescribe.\n c. In the case of river improvement or drainage districts established\nby or under the supervision of the conservation department, the\nprovisions of this chapter shall be followed, but the obligations\nauthorized and prescribed by the finance board shall be sold and issued\nby the state comptroller.\n