N.Y. Local Finance Law § 37.00: Referenda on bond resolutions or capital note resolutions; school districts

§ 37.00 Referenda on bond resolutions or capital note resolutions;

school districts. a. In a school district other than a city school

district a bond resolution or a capital note resolution shall not be

adopted by the finance board thereof unless a tax to be collected in

installments shall have been voted in the manner provided in the

education law, as amended from time to time, for the object or purpose

for which such resolution authorizes the issuance of obligations. The

foregoing provisions of this paragraph shall not apply to:

1. A bond resolution or capital note resolution adopted by the finance

board of a school district authorizing the issuance of bonds or capital

notes for the payment of all or part of a judgment, award or a

compromised or settled claim against the school district for the

acquisition of land or rights in land, to the extent that the amount of

such judgment, award or claim exceeds the amount authorized to be

expended for such acquisition of land or rights in land, provided such

excess amount does not exceed fifteen per centum of the amount so

authorized to be expended.

2. A bond resolution which authorizes the issuance of bonds pursuant

to section 92.00 of this chapter where prior to the issuance by a school

district of the bond anticipation note or notes to be refunded by such

bonds a tax to be collected in installments has been voted in the manner

provided in the education law for the object or purpose for which such

note or notes were issued.

3. A bond resolution or capital note resolution which authorizes the

issuance of bonds or capital notes for the payment of judgments, or

compromised or settled claims against such a school district, or awards

or sums payable by such a school district pursuant to a determination by

a court, or an officer, body or agency acting in an administrative or

quasi-judicial capacity.

b. In a city school district a bond resolution adopted by the finance

board thereof shall not become effective unless a proposition approving

such resolution shall have been adopted at a special or annual school

district meeting held in accordance with article forty-one and

fifty-three of the education law. The foregoing provisions of this

paragraph shall not apply to a bond resolution authorizing the issuance

of bonds:

1. For the payment of judgments, or compromised or settled claims

against such city school district, or awards or sums payable by such

city school district pursuant to a determination by a court, or an

officer, body or agency acting in an administrative or quasi-judicial

capacity; or

2. Where a tax to be collected in installments has been voted in the

manner provided in the education law, prior to July first, nineteen

hundred fifty-one, for the object or purpose for which such resolution

authorizes the issuance of bonds; or

3. Where such resolution authorizes the issuance of bonds pursuant to

section 92.00 of this chapter and prior to the issuance by a school

district of the bond anticipation note or notes to be refunded by such

bonds a tax to be collected in installments has been voted in the manner

provided in the education law for the object or purpose for which such

note or notes were issued.

Notwithstanding the foregoing provisions of this paragraph, the

finance board of a city school district may provide in any bond

resolution or capital note resolution that such resolution, shall not

become effective unless a proposition approving such resolution is

adopted at a special or annual district meeting held in accordance with

article forty-one and fifty-three of the education law.