N.Y. Local Finance Law § 20.00: Types of obligations which may be issued

§ 20.00 Types of obligations which may be issued. a. Bonds, notes or

other evidences of indebtedness authorized to be issued by

municipalities, school districts or district corporations for any object

or purpose shall hereafter be of the following nature and kind only and

shall be denominated respectively as follows:

1. Serial bonds.

2. Sinking fund bonds or corporate stock.

3. Bond anticipation notes.

4. Tax anticipation notes.

5. Revenue anticipation notes.

6. Capital notes.

7. Budget notes.

8. Urban renewal notes.

9. Deferred payment notes.

* 10. Land installment purchase obligations.

* NB Repealed July 31, 2031

11. Lease, sublease or other agreements entered into pursuant to

subparagraph two of paragraph b of subdivision thirty-eight of section

sixteen hundred eighty of the public authorities law.

12. Deficiency notes.

b. Nothing contained in this section shall be construed to prevent the

prepayment of taxes to a municipality, school district or district

corporation and the furnishing of a non-negotiable receipt of such

prepayment whether or not interest is to be paid on the moneys so

prepaid.

c. Nothing contained in this chapter shall prevent a municipality from

issuing evidences of indebtedness to the state of New York or to the

United States of America with respect to a project or projects

undertaken by such municipality pursuant to any general law to

effectuate any of the purposes of article eighteen of the state

constitution.

d. Nothing contained in this section shall be construed to prevent a

municipality from issuing evidence of indebtedness or entering into

installment contracts to purchase equipment, machinery and apparatus

pursuant to section one hundred nine-b of the general municipal law.