Statute · New York Second Class Cities Law
N.Y. Second Class Cities Law § 60 — Temporary and funded debts
N.Y. Second Class Cities Law § 60
- Type
- Statute
- Source
- New York Second Class Cities Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 60. Temporary and funded debts. (a) Whenever the finance board, as that term is defined in section 2.00 of the local finance law, shall authorize the issuance of bonds or notes, it shall do so by ordinance.
Citator
N.Y. Second Class Cities Law § 60 — Temporary and funded debts is in force in the current edition of the Code, and nothing recorded condemns it.
§ 60. Temporary and funded debts. (a) Whenever the finance board, as that term is defined in section 2.00 of the local finance law, shall authorize the issuance of bonds or notes, it shall do so by ordinance.
(b) Provision shall be made for the payment of each annual installment of a funded debt and accrued interest on such funded debt in the year in which such principal and interest shall become due by the insertion of the proper sum in the annual estimate for the year in question. Bonds issued to provide for the supply of water may be paid out of water rents received by the city.