New York Laws
Article 51 - City School Districts of Cities With Less Than One Hundred Twenty-Five Thousand Inhabitants
2530 - Power to Contract Indebtedness.

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.