§ 2435-e. Special School Deficit Program Agreements.
(1)In order to\nfulfill the purposes of this title and to provide a means by which a\nspecial school deficit program district may receive assistance to meet\nits obligations and, notwithstanding any general or special law to the\ncontrary, the agency and the special school deficit program district\nare, subject to the provisions of subdivision (3) of this section,\nhereby authorized to enter into one or more special school deficit\nprogram agreements, which special school deficit program agreements\nshall, consistent with the provisions of this title, contain such terms,\nprovisions and conditions as, in the judgement of the agency, shall be\nnecessary or desirable. Each special school deficit program agreement\nshall specify the amou
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§ 2435-e. Special School Deficit Program Agreements. (1) In order to\nfulfill the purposes of this title and to provide a means by which a\nspecial school deficit program district may receive assistance to meet\nits obligations and, notwithstanding any general or special law to the\ncontrary, the agency and the special school deficit program district\nare, subject to the provisions of subdivision (3) of this section,\nhereby authorized to enter into one or more special school deficit\nprogram agreements, which special school deficit program agreements\nshall, consistent with the provisions of this title, contain such terms,\nprovisions and conditions as, in the judgement of the agency, shall be\nnecessary or desirable. Each special school deficit program agreement\nshall specify the amount to be made available to the special school\ndeficit program district through the proceeds of an issue of special\nschool deficit program bonds and shall require such special school\ndeficit program district, subject to appropriation by the board of\neducation of such special school deficit program district, to make\npayments to the agency in the amounts and at the times determined by the\nagency to be necessary to provide for payment of such issue of special\nschool deficit program bonds and such other fees, charges, costs, and\nother amounts as the agency shall in its judgement determine to be\nnecessary or desirable.\n (2) Any special school deficit program agreement entered into pursuant\nto subdivision one of this section shall provide that the obligations\nthereunder to fund or pay the amounts therein provided for shall not\nconstitute a debt of the state or such special school deficit program\ndistrict within the meaning of any constitutional or statutory provision\nand shall be deemed executory only to the extent of moneys available and\nthat no liability shall be incurred by the state or such special school\ndeficit program district beyond the moneys available for the purpose,\nand that such obligation is subject to annual appropriation by the board\nof education of such special school deficit program district.\n