New York Laws
Title 3 - Local Obligations: Authorization Thereof
38.10 - Bond Anticipation Note Resolution; Form and Contents.

§ 38.10 Bond anticipation note resolution; form and contents.
Whenever the finance board shall authorize the issuance of bond
anticipation notes or renewals thereof, it shall do so by a "bond
anticipation note resolution." Each such resolution shall be properly
dated and shall bear a title which will indicate that it relates to a
bond anticipation note. Whenever a bond anticipation note has been duly
authorized by a chief fiscal officer the certificate required to be
filed by such officer pursuant to section 30.00 of this chapter shall
bear a title which will indicate that it relates to a bond anticipation
note. Every such resolution shall contain, in substance, at least the
following provisions:

1. A statement of the specific object or purpose or the class of
objects or purposes for which the obligations to be authorized by such
resolution are to be issued. Such specific object or purpose shall be
described in brief and general terms sufficient for a reasonable
identification.

2. A specific reference to the bond resolution or resolutions
authorizing the bonds in anticipation of the sale of which such notes
are to be issued.

3. A statement of the amount of bonds to be issued for such specific
object or purpose or class of objects or purposes and whether such bonds
are to be serial or sinking fund bonds.

4. A statement of the amount of such bond anticipation notes to be
issued.

5. A statement of the amount of bond anticipation notes which are
outstanding which had been previously issued in anticipation of the sale
of such bonds.

6. A statement as to whether or not such notes are renewal notes and
if they are, the date of issuance of the original notes issued in
anticipation of the sale of such bonds.

7. A statement of the period of maturity of such notes.

8. A statement indicating whether or not such notes are issued in
anticipation of bonds for an assessable improvement.