§ 1041 — County may levy tax within district

New York § 1041

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 2: Albany Light, Heat and Power Authority
• Art. 5: Public Utility Authorities

Text

* § 1041. County may levy tax within district. Should it appear to the\nboard of supervisors at any time that the revenue of the authority is or\nwill be insufficient to provide for the payment of any bonds issued\nunder this title and to reimburse the county for any moneys that it may\nhave advanced to the authority, the board of supervisors shall determine\nthe amount of money necessary to be raised for such purpose, and shall\nlevy a tax on the territory of the district and upon the several parcels\nof real estate in the district in an amount sufficient to produce the\namount necessary to be raised as aforesaid; provided that such tax shall\nnot be levied to pay any bonds of the authority unless the authority\nwith the consent of the board of supervisors has pledged such tax prior\nto the issuance of such bonds. Such tax shall be levied and apportioned\nupon such territory and collected from the several parcels of real\nestate in the district in like manner as other county taxes.\n It is hereby determined that the liability imposed upon the territory\nincluded in the district is based upon the special benefit to such\nterritory accruing under this title and that the tax to be levied\nbecause of such liability and in proportion to the taxable value of real\nestate in such territory will be in proportion to such benefits.\n * NB Terminated July 1, 1963\n