§ 61.00 — Execution of obligations

New York § 61.00

• 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

§ 61.00 Execution of obligations. a. All obligations, including\ninterim bonds, shall be executed in the name of the municipality, school\ndistrict or district corporation by the chief fiscal officer unless the\nfinance board shall, by resolution, designate a different officer or\nofficers to execute such obligations. Such execution may be by\nfacsimile signature, in which event the finance board shall provide for\nauthentication of such obligation by the manual countersignature of a\nfiscal agent or of a designated official of the municipality, school\ndistrict or district corporation. Such obligations shall have the seal\nor a facsimile seal of the municipality, school district or district\ncorporation impressed or imprinted thereon. Such obligations may be\nattested by the facsimile or manual signature of the clerk of such\nmunicipality, school district or district corporation or such other\nofficial thereof as may be designated by the finance board. Coupons\nattached to a bond shall be authenticated by the facsimile or manual\nsignature of the chief fiscal officer unless the finance board shall, by\nresolution, provide that such coupons shall be authenticated by the\nfacsimile or manual signature of a different officer.\n b. Obligations executed in the manner set forth above by the officials\ndesignated and referred to above shall be valid and binding obligations\nwhen duly delivered, notwithstanding the fact that before the delivery\nthereof the persons executing the same shall have ceased to be officials\nor other officials may have been designated to perform such functions.\n