Statute · New York City of Troy Issuance of Serial Bonds
N.Y. City of Troy Issuance of Serial Bonds § 1-c — General rights and prohibitions
N.Y. City of Troy Issuance of Serial Bonds § 1-c
- Type
- Statute
- Source
- New York City of Troy Issuance of Serial Bonds
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 1-c. General rights and prohibitions. (a) Neither the city of Troy nor any covered organization shall borrow or expend any moneys, or in any way, directly or indirectly, expressly or implicitly engage its credit during any emergency period except in compliance with the provisions of this act.
Citator
N.Y. City of Troy Issuance of Serial Bonds § 1-c — General rights and prohibitions is in force in the current edition of the Code, and nothing recorded condemns it.
§ 1-c. General rights and prohibitions. (a) Neither the city of Troy nor any covered organization shall borrow or expend any moneys, or in any way, directly or indirectly, expressly or implicitly engage its credit during any emergency period except in compliance with the provisions of this act.
(b) Nothing contained in this act shall limit the right of the city of Troy or any covered organization to comply with the provisions of any existing contract with or for the benefit of the holders of any bonds or notes of the city of Troy or such covered organization.