New York Laws
Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof
56.00 - Agency Selling and Issuing Obligations.

§ 56.00 Agency selling and issuing obligations. a. The finance board
shall be vested with the powers and duties prescribed in sections 21.00,
57.00, 58.00, 59.00, 60.00, 62.00 and 63.00 of this chapter, and any
other powers or duties pertaining or incidental to the sale and issuance
of obligations. However, the finance board of any municipality, school
district or district corporation may, by resolution, delegate all or
part of such powers and duties to the chief fiscal officer or, in the
case of school districts, to the clerk of the school board, in which
event such chief fiscal officer or clerk of the school board, as the
case may be, shall exercise such powers and perform such duties until
the finance board shall, by resolution, elect to reassume the same.

b. In such instances in which the chief fiscal officer or clerk of the
school board, as the case may be, exercises such powers and performs
such duties, the same shall be exercised or performed subject to such
terms and conditions, not inconsistent with the provisions of this
chapter, as the finance board may prescribe.

c. In the case of river improvement or drainage districts established
by or under the supervision of the conservation department, the
provisions of this chapter shall be followed, but the obligations
authorized and prescribed by the finance board shall be sold and issued
by the state comptroller.

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