N.Y. Town Law § 232: Permanent financing of general improvements

§ 232. Permanent financing of general improvements. The town board may

provide for the payment of the cost of any public improvement or project

authorized by subdivisions eleven-a or eleven-c of section sixty-four,

or sections eighty-one, two hundred twenty or two hundred twenty-one of

this chapter, by any one or by a combination of the following methods,

namely: (1) by the use of surplus moneys of the town or (2) by including

a sum therefor in the annual tax levy or (3) by making funds available

therefor pursuant to the local finance law. The town board shall raise

annually by tax a sum sufficient to pay the interest and the principal

of such obligations, if not otherwise paid, as the same shall become

due; and such tax shall be assessed, levied and collected from all

taxable property in the town in the same manner and at the same time as

the annual tax for other town charges.

If the public improvement or project is a refuse disposal plant or

plants referred to in section two hundred twenty-one of this chapter

provision shall be made that the town shall be reimbursed, out of

revenues from the improvement or project to pay the cost of which

obligations were issued, for any moneys so raised by taxation for the

payment of the principal and interest of such obligations.