N.Y. Local Finance Law § 102.00

§ 102.00 Consent by cities, towns and villages to the contracting of\nindebtedness by certain district corporations. a. As used in this\nsection, the term "district corporations" shall mean any district\ncorporation other than a fire district, or a river improvement, river\nregulating, or drainage district, established by or under the\nsupervision of the department of conservation.\n b. A district corporation, as defined in paragraph a of this section,\nshall not contract any indebtedness unless it shall first secure the\nconsent of the city or village within which, or of the town within any\nunincorporated area of which, it is situated in whole or in part.\n c. Whenever any district corporation, as defined in paragraph a of\nthis section, shall desire to contract indebtedness, it shall file a\npetition in the office of the chief fiscal officer of each city, town or\nvillage affected, for the consent of such municipality to the\ncontracting of such indebtedness. Such petition shall be executed by the\nfinance board of such district corporation and shall contain the\nfollowing items:\n 1. The amount of outstanding indebtedness of such district\ncorporation, the purposes for which it was contracted and the manner in\nwhich such indebtedness will be paid.\n 2. The amount of outstanding indebtedness of such district corporation\ncontracted on or after January first, nineteen hundred thirty-nine, less\nthe total of those amounts included therein which, if contracted by such\ncity, town or village, would be listed as deductions by such\nmunicipality, pursuant to section 136.00 of this chapter, in the debt\nstatement of total net indebtedness prepared pursuant to title ten of\narticle two of this chapter. The amounts so deducted shall be itemized.\n 3. The amount of the indebtedness proposed to be contracted by such\ndistrict corporation, the purpose for which and the manner in which it\nwill be contracted. If only part of such a district corporation is\nsituated within such city, village or the unincorporated area of such\ntown, the petition shall state the proportionate amount of such\nindebtedness which would be allocated to such city, village or town,\npursuant to the procedure set forth in section 120.00 of this chapter,\nregardless of whether such indebtedness would or would not be included\nin ascertaining the power of such municipality to contract indebtedness\nif contracted by such municipality.\n 4. The manner in which funds will be provided for the payment of the\nproposed indebtedness.\n 5. A description of the real property within such city, town or\nvillage subject to the levy of taxes or benefit assessments by or on\nbehalf of such petitioning corporate district.\n 6. The receipts and expenditures of such district corporation for the\nlatest completed fiscal year thereof.\n d. Immediately after receipt of the petition, the chief fiscal officer\nof such city, town or village shall prepare a certificate which shall\ncontain:\n 1. The average full valuation and the most recent assessed valuation\nof such city, town or village and the average full valuation and the\nmost recent assessed valuation of the real property therein subject to\nthe levy of taxes or benefit assessments by or on behalf of such\npetitioning district corporation.\n 2. A statement of the debt of such city, town or village, prepared in\nthe manner set forth in title ten of article two of this chapter, as of\na date not more than thirty days previous to the date of such\ncertificate, except that in a city containing more than one county such\nstatement shall be prepared as of a date not more than sixty days\nprevious to the date of such certificate.\n 3. The amount of indebtedness proposed to be contracted by the\npetitioning district corporation or if such district corporation is not\nwholly contained within such city, village, or the unincorporated area\nof such town, the proportionate amount of such indebtedness which would\nbe allocated to such city, village or town pursuant to the procedure set\nforth in section 120.00 of this chapter, regardless of whether such\nindebtedness would or would not be included in ascertaining the power of\nsuch municipality to contract indebtedness, and the percentage which\nsuch proposed indebtedness or proportionate amount thereof, as the case\nmay be, bears to\n (a) The average full valuation of such city, town or village and\n (b) The average full valuation of the real property within such city,\ntown or village subject to the levy of taxes or benefit assessments by\nor on behalf of the petitioning district corporation.\n e. The finance board of each such city, town or village may require\nany officer, board or agency of such municipality or of the district\ncorporation to furnish such additional data and information in his or\nits possession as such finance board deems necessary to enable it to\nmake its decision as to whether or not to grant the consent petitioned\nfor.\n f. The chief fiscal officer shall present the petition of the district\ncorporation to the finance board of such city, town or village together\nwith his certificate at the next regular meeting of such board to be\nheld after the preparation of his certificate or at a special meeting\nthereof called for the purpose of fixing a time and place for a public\nhearing on such petition. Upon presentation of the petition and\ncertificate, the finance board of such city, town or village shall adopt\na resolution fixing a time and place for a public hearing upon such\npetition and shall cause a notice thereof to be published at least once\nin the official newspaper or newspapers of such municipality, or if\nthere be no such newspaper or newspapers, then in a newspaper having a\ngeneral circulation in such city, town or village. The first publication\nthereof shall be not less than ten days nor more than twenty days before\nthe day designated therein for the hearing. Such notice shall specify\nthe purpose of the hearing and the time when and place where such\nfinance board will meet to consider such petition. It shall also set\nforth in full the certificate of the chief fiscal officer of such city,\ntown or village. Such publication shall be at the expense of the\npetitioning district corporation.\n g. After a public hearing held upon notice as hereinbefore provided,\nthe consent of such city, town or village may be granted by at least a\ntwo-thirds vote of the voting strength of such finance board. If such\nfinance board shall consent to the contracting of indebtedness in an\namount which would increase the indebtedness of such city, town or\nvillage by three per centum of the average full valuation thereof, such\naction shall:\n 1. In the case of a city, be subject to a permissive referendum if a\nprocedure for a permissive referendum shall have been adopted by local\nlaw pursuant to section 34.00 of this chapter.\n 2. (a) In the case of a town of the first class, be subject to a\npermissive referendum in the manner provided in section 35.00 of this\nchapter.\n (b) In the case of a town of the second class, be subject to a\nmandatory referendum in the manner provided in article six of the town\nlaw.\n 3. In the case of a village, be subject to a permissive referendum in\nthe manner provided in section 36.00 of this chapter.\n h. If all the cities, towns or villages affected do not give their\nconsent to the petitioning district corporation in the manner provided\nin this section, such corporate district shall not contract such\nindebtedness.\n