ยง 2530. Power  to  contract  indebtedness.   Each city school district
  shall be authorized to expend money for any of the objects  or  purposes
  which   it   is  authorized  to  accomplish  by  law  and  may  contract
  indebtedness in its name  pursuant  to  the  local  finance  law.    The
  provisions  of  section  four  hundred  sixteen of this chapter shall be
  applicable to such districts.
Structure New York Laws
Title 2 - School District Organization
2501 - Application of Article.
2503 - Powers and Duties of Board of Education.
2503-A - Powers of Boards of Education to Ban Fraternities, Sororities and Other Secret Societies.
2504 - Meetings of Board of Education.
2507 - Superintendent of Schools; Associate Superintendents.
2508 - Powers and Duties of Superintendent of Schools.
2509 - Appointment of Assistant and Other Superintendents, Teachers and Other Employees.
2510 - Abolition of Office or Position.
2511 - Purchase and Sale of Real and Personal Property.
2513 - Contracts; Advertisement for Bids.
2514 - Kindergartens, Nursery and Night Schools.
2519 - Adoption of Budget; Publication of Changes; Appropriations.
2522 - General Budgetary Controls; Lapse of Appropriations.
2523 - Moneys; Custody and Disbursement.