New York State Department of Audit and Control Annual Debt Statements of Municipalities, Fire Districts, and School Districts A0796

New York State Department of Audit and Control Annual Debt Statements of Municipalities, Fire Districts, and School Districts

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Overview of the Records

Repository:

New York State Archives
New York State Education Department
Cultural Education Center
Albany, NY 12230

Summary:

These debt statements were generated pursuant to Article 2, Section 109 of the Local Finance Law, requiring municipalities, fire districts, and school districts to file a verified statement of its debt before selling bonds. This series consists of annual and supplemental debt statements of municipalities (cities, counties, towns, and villages), fire districts, and school districts.

Creator:

New York (State). Department of Audit and Control

Title:

Annual debt statements of municipalities, fire districts, and school districts

Quantity:

3 cubic feet

Inclusive Dates:

1967-1969

Series Number:

A0796

Arrangement

Arranged chronologically by year and thereafter by type of entity (municipality, fire district, or school district) and then alphabetically by entity name.

Administrative History

These debt statements were generated pursuant to Article 2, Section 109 of the Local Finance Law which states that "not more than 15 nor less than 3 days before any municipality, fire district or any school district sells any bonds which are required to be sold at public sale, it shall file with the state comptroller a verified statement of its debt-contracting power prepared as of a date not more than 30 days previous to the date of the sale of such bonds, except that in a city containing more then one county the statement shall be prepared not more than 60 days previous to the date of the sale of such bonds. The statement shall show the amount of obligations proposed to be sold at each sale."

Scope and Content Note

This series consists of annual and supplemental debt statements of municipalities (cities, counties, towns, and villages), fire districts and school districts. Each debt statement for municipalities contains the following information: debt limit, total indebtedness, net debt-contracting margin, percentage of debt-contracting power exhausted, proposed bond issue, statement of total debt and including average full valuation, inclusions, gross joint indebtedness, and exclusions. The debt statement for fire districts lists the following data: full valuation of real property subject to taxation by fire district, debt limit, statement of total debt including inclusions and exclusions, total net indebtedness, percentage of debt-contracting power exhausted, debt statement summary, consent to exceed debt limit, transition provisions, and interim sales.

The debt statement for school districts contains the following data: bonded indebtedness, proposal issue, exclusion net indebtedness, full valuation of real property subject to taxation by school districts, bonded debt limit, debt-contacting margin, and consent to exceed debt limit.