107.00 - Down Payment.

NY Loc Fin L § 107.00 (2019) (N/A)
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(a) The acquisition, construction, reconstruction or equipment of or addition to a water supply or distribution system, whether or not including land.

(b) A capital improvement which the finance board by resolution estimates will be self-sustaining.

(c) The acquisition, construction or equipment of or addition to rapid transit railroads, whether or not including land.

(d) The acquisition, construction, reconstruction or equipment of or addition to electric light and power or gas plants or systems, whether or not including land.

(e) The acquisition, construction, reconstruction of or addition to docks, piers or wharf property, whether or not including land.

(f) The acquisition, construction, reconstruction of or addition to a bridge or a tunnel and the approaches thereto, whether or not including land, the cost of which is estimated to exceed ten million dollars.

(g) A capital improvement, the cost of which is estimated to exceed twenty million dollars.

(h) A capital improvement, the cost of which is estimated to exceed one million dollars and part of which cost is to be paid by assessments upon benefited real property in an area less than the area of the municipality.

(i) A capital improvement, of which at least fifty per centum of the cost is to be paid by assessments upon benefited real property in an area less than the area of the municipality, whether or not the cost of such improvement is estimated to be in excess of one million dollars.

(j) A capital improvement or the acquisition of equipment, when necessitated by some destructive agency or to prevent the happening of a calamity. The finance board, shall, by a four-fifths vote of its voting strength, determine when such an emergency exists. The determination of the finance board as to the existence of such an emergency shall be conclusive.

(k) The construction, reconstruction and equipment of city hospitals and schools, whether or not including land, if the bonds authorized for any such object or purpose shall have a maximum maturity not to exceed one-half of the maximum period of probable usefulness for any such object or purpose prescribed in paragraph a of section 11.00 of this chapter. Such maximum maturity shall be computed from the date of the bonds or the date of the first bond anticipation note issued in anticipation of such bonds, whichever date is the earlier, and shall not exceed fifteen years in any event.

(l) The acquisition, construction, reconstruction, or equipment of or addition to facilities for the conveyance, treatment and disposal of sewage, whether or not including land.

(m) The cost of the preparation, pursuant to section ninety-nine-d of the general municipal law, of surveys, preliminary plans and detailed plans, specifications and estimates necessary for planning for a capital improvement which it is contemplated might be undertaken in the future. 4. The financing by any municipality of any object or purpose, if the bonds authorized for any such object or purpose shall have a maximum maturity not to exceed one-half of the maximum period of probable usefulness. Such maximum maturity shall be computed from the date of the bonds or the date of the first bond anticipation note issued in anticipation of such bonds, whichever date is the earlier, and shall not exceed fifteen years in any event. 5. The financing by any municipality of any object or purpose which has a period of probable usefulness of five years, or less, as prescribed in paragraph a of section 11.00 of this chapter. 6. The financing by any municipality of any urban renewal program or part thereof having a period of probable usefulness determined pursuant to subdivision forty-one-a of section 11.00 of this chapter. 7. The financing by any municipality of any object or purpose which has a period of probable usefulness prescribed in subdivision forty-one or subdivision forty-one-b of paragraph a of section 11.00 of this chapter. 8. Notwithstanding any other provision of law, the financing by the city of New York prior to July first, two thousand twenty-two of any object or purpose which has a period of probable usefulness determined by law by the issuance of any bonds or notes, including (i) the issuance of bonds or notes to obtain reimbursement for funds heretofore advanced for the object or purpose for which the bonds or notes are being issued, (ii) the issuance of bonds or notes to redeem notes previously issued for the object or purpose for which the bonds or notes are being issued or (iii) the issuance of bonds to refund bonds previously issued for the object or purpose for which bonds are being issued. 9. Notwithstanding any other provision of law, the financing by any municipality, prior to July fifteenth, two thousand twenty-one, of any object or purpose which has a period of probable usefulness determined by law, by the issuance of any bonds and notes, including (i) the issuance of bonds or notes, to redeem notes previously issued for the object or purpose for which the bonds or notes are being issued or (ii) the issuance of bonds to refund bonds previously issued for the object or purpose for which bonds are being issued.