N.Y. General Municipal Law § 980-g: Review by the state comptroller

§ 980-g. Review by the state comptroller. (a) The state comptroller

shall review as provided in this section: (1) the establishment or

extension of a district; and (2) the amendment of a district plan

pursuant to subdivision (c) of section nine hundred eighty-i of this

article.

(b) Within twenty days after the adoption of a local law by a

legislative body pursuant to section nine hundred eighty-f or

subdivision (c) of section nine hundred eighty-i of this article, the

chief executive officer, or, except in a municipality having a

population of one million or more, other such officer of the

municipality as the legislative body shall determine, shall forward the

following information to the state comptroller at Albany, New York:

(1) an itemized statement of the then outstanding indebtedness of the

municipality for all purposes, as evidenced by bonds, bond anticipation

notes, capital notes, deferred payment notes and budget notes; the

amount of budgetary appropriations for the payment of any outstanding

indebtedness, whether or not appropriations have been realized as cash;

the amount of indebtedness proposed to be contracted for the

improvement, and the amounts, purposes and probable date of issuance of

any bonds, bond anticipation notes, capital notes, deferred payments

notes and budget notes which the municipality has authorized to be

issued but which in fact have not been issued to date;

(2) a statement of the total assessed valuation of the taxable real

property situated in the proposed district or extension of a district,

as shown on the latest completed and four preceding assessment rolls of

the municipality and of the amount of municipal real property taxes

levied against such property in the preceding fiscal year;

(3) a statement of the average full valuation of the taxable real

property of the municipality determined in accordance with the

provisions of paragraph seven-a of section 2.00 of the local finance

law; and

(4) a statement, the form of which shall be determined by the

comptroller, attesting that the provisions of this article have been

met, signed and verified by the chief executive officer.

(c) The state comptroller shall then review the information submitted

pursuant to paragraphs one, two and three of subdivision (b) above to

determine that the tax and debt limitations provided in section nine

hundred eighty-k of this article will not be exceeded by the

establishment or extension of the district.

(d) The state comptroller shall notify the municipality of his or her

determination within sixty days of the receipt of the items specified in

subdivision (b) of this section. Unless the state comptroller determines

that the tax and debt limitations provided in section nine hundred

eighty-k of this article will be exceeded by the establishment or

extension of the district or that the statement required by paragraph

four of subdivision (b) of this section does not comply with the

provisions of such paragraph, the municipality may proceed with the

establishment or extension of the district upon receipt of the notice

from the state comptroller of his or her determination.

(e) Upon the municipality's compliance with any other requirements

established by law, the local law enacted pursuant to section nine

hundred eighty-f of this article shall become effective.