N.Y. Local Finance Law § 38.00: Referenda on bond resolutions or capital note resolutions; fire districts and other district corporations

§ 38.00 Referenda on bond resolutions or capital note resolutions;

fire districts and other district corporations. a. A bond resolution or

a capital note resolution adopted by the finance board of a fire

district shall not become effective unless it shall have been approved

at a regular or special election of such district in the manner provided

in section one hundred and seventy-nine of the town law, as amended from

time to time.

b. 1. If, prior to the effective date of this chapter, in a district

corporation other than a fire district, the voting of a special tax or a

tax to be collected in installments for an object or purpose, at a

regular or special election or meeting, is a condition precedent to the

authorization of the issuance of obligations for such object or purpose,

a bond resolution or a capital note resolution authorizing the issuance

of bonds or capital notes for such object or purpose shall not be

adopted by the finance board unless a special tax or a tax to be

collected in installments for such object or purpose shall have been

voted at such an election or meeting in the manner provided by law.

2. If, prior to the effective date of this chapter, in a district

corporation other than a fire district, the approval of a proposition

for the expenditure of money for an object or purpose, at a regular or

special election or meeting, is a condition precedent to the

authorization of the issuance of obligations for such object or purpose,

a bond resolution or a capital note resolution authorizing the issuance

of bonds or capital notes for such object or purpose shall not be

adopted by the finance board unless a proposition for the expenditure of

money for such object or purpose shall have been approved at such an

election or meeting in the manner provided by law.

3. If, prior to the effective date of this chapter, in a district

corporation other than a fire district, the authorization of the

issuance of obligations for an object or purpose must be approved at a

regular or special election or meeting, a bond resolution or a capital

note resolution adopted by the finance board authorizing the issuance of

bonds or capital notes for such object or purpose shall not become

effective unless it shall have been so approved at such an election or

meeting in the manner provided by law.