Section 39.00. Tax anticipation note resolution, revenue anticipation note resolution and urban renewal note resolution; form and contents  


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  • a.  Whenever   the  finance  board  shall  authorize  the  issuance  of  tax
      anticipation notes, revenue anticipation notes or urban  renewal  notes,
      or the renewal of such notes, it shall do so by a "tax anticipation note
      resolution",  "a  revenue  anticipation  note  resolution"  or an "urban
      renewal note resolution", as the case may be. Each such resolution shall
      be properly dated and shall bear a title which will indicate the type of
      note to  which  it  relates.  Whenever  any  such  note  has  been  duly
      authorized  by  a  chief  fiscal  officer the certificate required to be
      filed by such officer pursuant to section 30.00 of  this  chapter  shall
      bear a title which will indicate the type of note to which it relates.
        b.  A  tax  anticipation  note  resolution,  revenue anticipation note
      resolution or  an  urban  renewal  note  resolution  shall  contain,  in
      substance, the following provisions:
        1. A statement that such notes are issued in anticipation of:
        (a) The collection of real estate taxes or assessments, in the case of
      tax anticipation notes;
        (b)  The  collection  of  revenues  other  than  real  estate taxes or
      assessments, in the case of revenue anticipation notes; or
        (c) The receipt of moneys from (1) the sale of real property,  or  any
      interest  therein,  acquired  for  or  incidental  to  an  urban renewal
      project; or (2) from the United States government pursuant to title  one
      of  the  federal housing act of nineteen hundred forty-nine, as amended;
      or (3) from the state of New York pursuant to the general municipal law;
      or from any or all such sources, in the case of urban renewal notes.
        2. (a) In the case of tax anticipation notes:
        (1) If such taxes or assessments were levied or are to be levied for a
      fiscal year, a statement of the fiscal year  for  which  such  taxes  or
      assessments were levied or are to be levied, or
        (2)  If  such notes are to be issued in anticipation of the collection
      of assessments levied for a capital improvement and to be collected in a
      single installment,  and,  if  such  assessments  have  been  levied,  a
      statement of the date of the levy of such assessments, or
        (3)  If  such notes are to be issued in anticipation of the collection
      of an  installment  of  assessments  which  are  levied  for  a  capital
      improvement  and which are to be collected in several installments, and,
      if such installment of assessments has been levied, a statement  of  the
      date on which such installment is due and payable.
        (b)  In  the  case  of  revenue anticipation notes, a statement of the
      fiscal year in which such revenues are due and payable.
        3. (a) In the case  of  tax  anticipation  notes,  if  such  taxes  or
      assessments have been levied, a statement of the amount of such taxes or
      assessments   remaining   uncollected   against  which  such  notes  are
      authorized to be issued.
        (b) In the case of revenue anticipation  notes,  a  statement  of  the
      amount  of  uncollected revenues against which such notes are authorized
      to be issued.
        (c) In the case of urban renewal notes, a statement of (1)  the  total
      estimated cost of the urban renewal project as stated in the certificate
      of  the  chief  fiscal officer of the municipality filed and approved in
      the manner prescribed in paragraph d of section 25.10 of  this  chapter;
      (2)  the  total amount of any and all advances, loans and grants made by
      the United States government or by the state of New York in aid of  such
      project  to  the  municipality  prior  to  and including the date of the
      issuance of any such note or notes; (3) the amount of any and all  local
      grants-in-aid  made  or  to  be made for such project; and (4) the total
      amount of such notes outstanding for such project.
    
        4. In the case of urban renewal notes,  a  statement  identifying  the
      particular urban renewal project with respect to which such notes are to
      be issued.
        5. A statement of the amount of such notes to be issued.
        6. A statement of the period of maturity on such notes.
        7. (a) In the case of tax anticipation notes issued in anticipation of
      the  collection  of  taxes or assessments which have been levied, or the
      renewals thereof, a statement that the date of maturity  of  such  notes
      shall  not  extend beyond the close of the applicable period provided in
      section 24.00 of this chapter for the maturity of such notes.
        (b) In the case of revenue anticipation notes, if such notes are to be
      issued in renewal of  similar  notes,  a  statement  that  the  date  of
      maturity  of  such  notes  shall not extend beyond the expiration of the
      second fiscal year succeeding the fiscal year  in  which  such  original
      notes were issued.
        (c) In the case of urban renewal notes, a statement whether such notes
      are renewal notes and, if they are, the date of issuance of the original
      notes.