New York Laws
Title 2 - Local Obligations: Types Thereof
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* NB Repealed July 31, 2031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.