§ 15.00 Indebtedness relative to municipal cooperative activities. a.\nLegislative intent. The provisions of title one-A of article two of this\nchapter are intended to effectuate the provisions of sections one and\ntwo-a of article eight of the constitution, as in force and effect on\nJanuary first, nineteen hundred sixty, in relation to indebtedness\ncontracted, either jointly or severally, for (a) a joint service\ndescribed in section one of such article eight and (b) a joint water,\nsewage or drainage project described in paragraphs B, D and F of section\ntwo-a of such article eight.\n b. Definitions. As used in this title:\n 1. The term "municipal corporation" means a county outside the city of\nNew York, a city, a town, a village, or a school district.\n 2. The term "municipality" means a county outside the city of New\nYork, a city, a town or a village.\n 3. The term "district," unless a specific type of district is referred\nto, means a county or town improvement district for which the county or\ntown or towns in which such district is located is or are required to\npledge its or their faith and credit for the payment of the principal of\nand interest on all indebtedness to be contracted for the purposes of\nsuch district.\n 4. The term "joint service" means a municipal facility, service,\nactivity or undertaking described in section one of article eight of the\nconstitution, but shall not include any object or purpose the\nindebtedness for which would be subject to the limitations of paragraph\na of section 150.00 of this chapter.\n 5. The term "joint water, sewage or drainage project" means a joint\nproject to provide for a common supply of water, the common conveyance,\ntreatment and disposal of sewage or a common drainage system, as\ndescribed in paragraphs B, D and F of section two-a of article eight of\nthe constitution.\n 6. The term "joint indebtedness" means indebtedness contracted for or\nin relation to a joint service or a joint water, sewage or drainage\nproject and for which the joint faith and credit of the municipal\ncorporations or municipalities would be pledged for the payment thereof.\nSuch term also shall include (a) indebtedness on account of the\nacquisition of real property the title to which has vested in the\nmunicipal corporations or municipalities, or the title to which they\nhave agreed to accept pursuant to a contract therefor, and for which\npayment has not been made, (b) indebtedness arising from contracts and\n(c) involuntary indebtedness incurred in relation to a joint service or\na joint water, sewage or drainage project and for which the municipal\ncorporations or municipalities are jointly liable, where, from the\ncontext of this title, it is evident that indebtedness on account of\nreal property liabilities, contract liabilities and involuntary\nindebtedness are intended to be included within the meaning of the term.\n 7. The term "several indebtedness" means indebtedness contracted for\nor in relation to a joint service or a joint water, sewage or drainage\nproject and for which the faith and credit of a single municipal\ncorporation or municipality would be pledged for the payment thereof.\nSuch term also shall include (a) indebtedness on account of the\nacquisition of real property the title to which has vested in a\nmunicipal corporation or municipality, or in the participating municipal\ncorporations or municipalities, or the title to which it has, or they\nhave, agreed to accept pursuant to a contract therefor, and for which\npayment has not been made, (b) indebtedness arising from contracts and\n(c) involuntary indebtedness incurred in relation to a joint service or\na joint water, sewage or drainage project and for which a municipal\ncorporation or a municipality is not jointly liable, where, from the\ncontext of this title, it is evident that indebtedness on account of\nreal property liabilities, contract liabilities and involuntary\nindebtedness are intended to be
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.