New York Laws
Article 19-A - Business Improvement Districts
980-J - Expense of the District.

(b) The charge upon benefited real property pursuant to this article
shall be imposed as provided in the district plan. If the formula
includes an ad valorem component, this component shall be determined by
the assessed value of each parcel as entered on the latest completed
assessment roll used by the municipality for the levy of general
municipal taxes. The charge shall be determined, levied and collected in
the same manner, at the same time and by the same officers, as general
municipal taxes are levied and collected.
(c) Any municipality which has established a district pursuant to this
article, may, for the purpose of providing funds for making capital
improvements within a district, issue and sell bonds or other municipal
obligations as provided in the local finance law and other applicable
laws and statutes. Principal and interest payments on these bonds or
other municipal obligations may be made in whole or in part from the
proceeds of charges imposed upon benefited real property within the
district.