New York Laws
Title 18 - State of New York Municipal Bond Bank Agency Act
2435-E - Special School Deficit Program Agreements.

(2) Any special school deficit program agreement entered into pursuant
to subdivision one of this section shall provide that the obligations
thereunder to fund or pay the amounts therein provided for shall not
constitute a debt of the state or such special school deficit program
district within the meaning of any constitutional or statutory provision
and shall be deemed executory only to the extent of moneys available and
that no liability shall be incurred by the state or such special school
deficit program district beyond the moneys available for the purpose,
and that such obligation is subject to annual appropriation by the board
of education of such special school deficit program district.

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