New York Laws
Title 8 - Limitations on the Power to Contract Indebtedness
105.00 - Exclusion of Indebtedness for Certain Assessable Improvements; Buffalo, Rochester and Syracuse.

§ 105.00 Exclusion of indebtedness for certain assessable
improvements; Buffalo, Rochester and Syracuse. In ascertaining the
power of the cities of Buffalo, Rochester and Syracuse to contract
indebtedness, there may be excluded the outstanding indebtedness
contracted by each of such cities for so much of the cost and expense of
any public improvement as may be required by the ordinance or local law
assessing the same to be raised by assessment upon local property or
territory, to the extent that such outstanding indebtedness together
with other indebtedness initially contracted therefor from time to time
after January first, nineteen hundred twenty-eight and since retired,
aggregates, in the case of the cities of Buffalo and Rochester, a sum
not exceeding ten million dollars, and in the case of the city of
Syracuse, a sum not exceeding five million dollars. Any indebtedness
thereafter contracted for such purposes in excess of such sums shall not
be so excluded. Nothing in this section shall be construed to prevent
the exclusion of any refunded indebtedness if the indebtedness refunded
could have been excluded pursuant to this section.