2006 New York Code - Review By The State Comptroller.

 
    §  980-g.  Review  by the state comptroller. (a) The state comptroller
  shall review as provided in  this  section:  (1)  the  establishment  or
  extension  of  a  district;  and  (2)  the  amendment of a district plan
  pursuant to subdivision (c) of section nine  hundred  eighty-i  of  this
  article.
    (b)  Within  twenty  days  after  the  adoption  of  a  local law by a
  legislative  body  pursuant  to  section  nine   hundred   eighty-f   or
  subdivision  (c)  of  section nine hundred eighty-i of this article, the
  chief  executive  officer,  or,  except  in  a  municipality  having   a
  population   of   one  million  or  more,  other  such  officer  of  the
  municipality as the legislative body shall determine, shall forward  the
  following information to the state comptroller at Albany, New York:
    (1)  an itemized statement of the then outstanding indebtedness of the
  municipality for all purposes, as evidenced by bonds, bond  anticipation
  notes,  capital  notes,  deferred  payment  notes  and budget notes; the
  amount of budgetary appropriations for the payment  of  any  outstanding
  indebtedness,  whether or not appropriations have been realized as cash;
  the  amount  of  indebtedness  proposed  to  be   contracted   for   the
  improvement,  and the amounts, purposes and probable date of issuance of
  any bonds, bond anticipation notes,  capital  notes,  deferred  payments
  notes  and  budget  notes  which  the  municipality has authorized to be
  issued but which in fact have not been issued to date;
    (2) a statement of the total assessed valuation of  the  taxable  real
  property  situated  in the proposed district or extension of a district,
  as shown on the latest completed and four preceding assessment rolls  of
  the  municipality  and  of  the  amount of municipal real property taxes
  levied against such property in the preceding fiscal year;
    (3) a statement of the average full  valuation  of  the  taxable  real
  property   of   the  municipality  determined  in  accordance  with  the
  provisions of paragraph seven-a of section 2.00  of  the  local  finance
  law; and
    (4)  a  statement,  the  form  of  which  shall  be  determined by the
  comptroller, attesting that the provisions of  this  article  have  been
  met, signed and verified by the chief executive officer.
    (c)  The state comptroller shall then review the information submitted
  pursuant to paragraphs one, two and three of subdivision  (b)  above  to
  determine  that  the  tax  and debt limitations provided in section nine
  hundred  eighty-k  of  this  article  will  not  be  exceeded   by   the
  establishment or extension of the district.
    (d)  The state comptroller shall notify the municipality of his or her
  determination within sixty days of the receipt of the items specified in
  subdivision (b) of this section. Unless the state comptroller determines
  that the tax and debt  limitations  provided  in  section  nine  hundred
  eighty-k  of  this  article  will  be  exceeded  by the establishment or
  extension of the district or that the statement  required  by  paragraph
  four  of  subdivision  (b)  of  this  section  does  not comply with the
  provisions of such paragraph, the  municipality  may  proceed  with  the
  establishment  or  extension  of the district upon receipt of the notice
  from the state comptroller of his or her determination.
    (e) Upon the municipality's compliance  with  any  other  requirements
  established  by  law,  the  local  law  enacted pursuant to section nine
  hundred eighty-f of this article shall become effective.