N.Y. Local Finance Law § 106.00

§ 106.00 When debt-contracting power of certain counties and towns\nshall cease. a. Whenever the boundaries of any city are the same as\nthose of a county, or when any city includes within its boundaries more\nthan one county, the power of any county wholly included within such\ncity to contract indebtedness shall cease.\n b. Whenever the boundaries of any village are the same as those of a\ntown, or when any village includes within its boundaries a town, the\npower of any town wholly included within such village to contract\nindebtedness shall cease.\n