N.Y. City of Troy Issuance of Serial Bonds § 10-a: Prohibition; penalties

§ 10-a. Prohibition; penalties. (a) During any emergency period (i) no

officer or employee of the city of Troy or of any of the covered

organizations shall make or authorize an obligation or other liability

in excess of the amount available therefor under the financial plan as

then in effect; (ii) no officer or employee of the city of Troy or of

any of the covered organizations shall involve the city of Troy or any

of the covered organizations in any contract or other obligation or

liability for the payment of money for any purpose required to be

approved by the supervisory board unless such contract has been so

approved and unless such contract or obligation or liability is in

compliance with the financial plan as then in effect.

(b) No officer or employee of the city of Troy or any of the covered

organizations shall take any action in violation of any valid order of

the supervisory board or shall fail or refuse to take any action

required by any such order or shall prepare, present or certify any

information (including any projections or estimates) or report for the

supervisory board or any of its agents that is false or misleading, or,

upon learning that any such information is false or misleading, shall

fail promptly to advise the supervisory board or its agents thereof.

(c) In addition to any penalty or liability under any other law, any

officer or employees of the city of Troy or any of the covered

organizations who shall violate subdivision (a) or (b) of this section

shall be subject to appropriate administrative discipline, including,

when circumstances warrant, suspension from duty without pay or removal

from office by order of either the governor or the chief executive

officer; and any officer or employee of the city of Troy or any of the

covered organizations who shall knowingly and willfully violate

subdivision (a) or (b) of this section shall, upon conviction, be guilty

of a misdemeanor.

(d) In the case of a violation of subdivision (a) or (b) of this

section by an officer or employee of the city of Troy or any of the

covered organizations, the chief executive officer or the chief

executive officer of such covered organization shall immediately report

to the supervisory board all pertinent facts together with a statement

of the action taken thereon.