N.Y. General Municipal Law § 980-j: Expense of the district

§ 980-j. Expense of the district. (a) The expense incurred in the

construction or operation of any improvement or provision of additional

services in a district pursuant to this article shall be financed in

accordance with the district plan upon which the establishment or

extension of the district was based. Services for which district

property owners are charged pursuant to the plan must be in addition to

or an enhancement of those provided by the municipality prior to the

establishment of the district. The expense and cost apportioned to

benefited real property in accordance with the plan shall be a charge

upon each benefited parcel of real property within the district.

(b) The charge upon benefited real property pursuant to this article

shall be imposed as provided in the district plan. If the formula

includes an ad valorem component, this component shall be determined by

the assessed value of each parcel as entered on the latest completed

assessment roll used by the municipality for the levy of general

municipal taxes. The charge shall be determined, levied and collected in

the same manner, at the same time and by the same officers, as general

municipal taxes are levied and collected.

(c) Any municipality which has established a district pursuant to this

article, may, for the purpose of providing funds for making capital

improvements within a district, issue and sell bonds or other municipal

obligations as provided in the local finance law and other applicable

laws and statutes. Principal and interest payments on these bonds or

other municipal obligations may be made in whole or in part from the

proceeds of charges imposed upon benefited real property within the

district.