§ 3851. Definitions. For the purposes of this title, unless the\ncontext otherwise requires: 1. "Advisory period" means that period no\nearlier than July first, two thousand six, after which the authority has\ndetermined that (a) for each of the three immediately preceding city\nfiscal years, the city has adopted and adhered to budgets covering all\nexpenditures, other than capital items, the results of which did not\nshow a deficit, without the use of any authority assistance, as provided\nfor under section thirty-eight hundred fifty-seven of this title, when\nreported in accordance with generally accepted accounting principles and\n(b) the comptroller and the state comptroller jointly certify that\nsecurities were sold by the city during the immediately preceding city\nfiscal year in the general public market and that there is a substantial\nlikelihood that such securities can be sold by the city in the general\npublic market from such date through the end of the next succeeding city\nfiscal year in amounts that will satisfy substantially all of the\ncapital and cash flow requirements of the city during that period in\naccordance with the financial plan then in existence. The joint\ncertification made by the comptroller and the state comptroller shall be\nbased on their separate written determinations which may take into\naccount a report and opinion of an independent expert in the marketing\nof securities selected by the authority as well as other information\navailable to the comptrollers. Once begun, an advisory period shall\ncontinue through June thirtieth, two thousand thirty-seven unless a\ncontrol period is imposed.\n 2. "Authority" or "Buffalo fiscal stability authority" or "BFSA" means\nthe public benefit corporation created by this title.\n 3. "BFSA assistance" means: (a) the amount of debt service savings in\na given city fiscal year generated from the proceeds of bonds, notes or\nother obligations made available to or for the benefit of the city or\nany covered organization as determined by the authority; or (b) the\nproceeds of any deficit financing authorized by the authority, or some\ncombination thereof pursuant to the provisions of section thirty-eight\nhundred fifty-seven of this title. Such assistance shall be made\navailable only upon a declaration of need by the city pursuant to\nsection thirty-eight hundred sixty-one of this title and the approval of\nthe BFSA board.\n 4. "Bonds, notes or other obligations" means bonds, notes and other\nevidences of indebtedness, issued or incurred by the authority.\n 5. "Chief fiscal officer" means the chief fiscal officer of the city\nas defined in section 2.00 of the local finance law.\n 6. "City" means the city of Buffalo.\n 7. "City charter" means the city government law of the city of\nBuffalo, as amended.\n 8. "City tax revenues" means the portion of the county's "net\ncollections", as defined in section twelve hundred sixty-two of the tax\nlaw, payable to the city under the agreement among the county, the city\nand the cities of Lackawanna and Tonawanda entered into pursuant to the\nauthority of subdivision (c) of section twelve hundred sixty-two of the\ntax law. In the event that the city imposes sales and compensating use\ntaxes pursuant to the authority of section twelve hundred ten of the tax\nlaw, "city tax revenues" shall also include net collections from such\ncity taxes.\n 9. "Comptroller" means the comptroller of the city.\n 10. "Control period" means that period of time from the effective date\nof this title, continuing until the authority determines that conditions\nhave been met as provided in subdivision one of this section and the\ncity qualifies for the onset of an advisory period. A control period may\nbe reimposed as determined by the authority in accordance with section\nthirty-eight hundred fifty-eight of this title.\n 11. "Council" means the city council of the city of Buffalo.\n 12. "County" means the county of Erie.\n 13. "Cover
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