2006 New York Code - Authorization Thereof

 
    §  30.00  Agency  authorizing issuance of obligations.  a. The finance
  board shall have the power to authorize the issuance of bonds and notes.
  However, the finance board may, by resolution, delegate  such  power  in
  relation  to  bond  anticipation  notes, tax anticipation notes, revenue
  anticipation notes or urban renewal notes or the  renewals  thereof,  to
  the  chief fiscal officer, in which event the chief fiscal officer shall
  exercise such power until the finance board, by resolution, shall  elect
  to reassume the same.
    b.  Whenever the power to authorize the issuance of any of such notes,
  or the renewals thereof, has been delegated to the chief fiscal officer,
  no such note, or such renewal note, authorized by such officer  pursuant
  to such power shall be issued unless such officer shall have first filed
  with  the  finance  board a certificate authorizing the issuance of such
  note, or such renewal note. Such certificate shall contain in  substance
  at  least the same statements and provisions as a finance board would be
  required to incorporate in a resolution adopted by it in compliance with
  section 38.10 or section 39.00 of  this  chapter  and,  in  addition,  a
  statement  that  the power delegated to such officer to issue such note,
  or such renewal note, is in full force  and  effect  and  has  not  been
  modified,  amended  or revoked. Such certificate shall be properly dated
  and signed by the chief fiscal officer and the same shall  be  a  public
  record.  The  failure  to  have  first  filed  such certificate with the
  finance board as hereinbefore provided shall not invalidate the issuance
  of any such note.
    c. In such instances in which the chief fiscal officer exercises  such
  power, the same shall be exercised subject to such terms and conditions,
  not  inconsistent  with  the  provisions of this chapter, as the finance
  board may prescribe.