Relates to the definition of school districts which have the power to contract indebtedness; excludes from such definition school districts in a city with a population exceeding 125,000 inhabitants.
STATE OF NEW YORK
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7062
2019-2020 Regular Sessions
IN ASSEMBLY
April 4, 2019
___________
Introduced by M. of A. McDONALD -- read once and referred to the Commit-
tee on Local Governments
AN ACT to amend the local finance law, in relation to allowing certain
school districts to deduct state apportionments for debt service in
the calculation of limits for bonded indebtedness
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subparagraph 2 of paragraph a of section 121.20 of the
2 local finance law, as amended by chapter 506 of the laws of 1964, is
3 amended to read as follows:
4 2. The term "school district" shall mean a school district other than
5 a school district in a city with a population exceeding one hundred
6 twenty-five thousand inhabitants.
7 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD10806-01-9