There is a newer version of the New York Consolidated Laws
2006 New York Code - Capital Projects; Contracts; Certification Of Debt Incurring Power.
§ 5-106 Capital projects; contracts; certification of debt incurring power. Before any contract for any of the projects authorized within the capital budget shall be approved by the mayor, the comptroller shall certify in writing to the mayor that there is sufficient margin of constitutional debt-incurring power legally to enable the registration of such contract or contracts within such constitutional limitation.
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