2 CRR-NY App. 9NY-CRR

OFFICIAL COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 2. DEPARTMENT OF AUDIT AND CONTROL
2 CRR-NY App. 9
2 CRR-NY App. 9
Form A. C. 972 (1963 Rev.)
School Districts outside Cities
DEBT STATEMENT
OF
________________________
in the _______ of ______________
________________________
________________ COUNTY, NEW YORK
PREPARED AS OF
_________, 19_
Form A.C.972-1
School Districts outside CitiesINSTRUCTIONS
1. WHEN FILING IS REQUIRED. A debt statement must be filed not more than fifteen days nor less than three days before any school district having an aggregate assessed valuation of real property of $100,000 or over sells any bonds which are required to be sold at public sale. Local Finance Law, Section 109.00(a).
2. DATE OF PREPARATION. The statement must be prepared as of a date not more than thirty days previous to the date of sale of the bonds. Local Finance Law. Section 109.00(a).
3. PLACE OF FILING. The statement must be filed with the State Comptroller. To insure prompt delivery to the correct filing office, address envelope as follows: ‘Department of Audit and Control, Division of Municipal Affairs, 110 State Street, Albany, New York 12236-0001’. A duplicate copy must be filed with the clerk (or corresponding officer) of the school district. Local Finance Law Section 109.00(a).
4. VERIFICATION. The statement must be verified by the chief fiscal officer of the school district. In school districts, the chairman or president of the school board is the chief fiscal officer. In the case of common school districts having a sole trustee, the sole trustee is the chief fiscal officer.
5. BOND ANTICIPATION NOTES. (a) In connection with the sale of bond anticipation notes, a school district may prepare a debt statement and may file such statement in the manner provided in Section 309.00 of the Local Finance Law. Local Finance Law, Section 137.00 (last sentence). In such case enter the amount of such notes at Part 3 of Section A on Page 2.
(b) Where bonds are being sold, do not include in Part 1, 2, 3, 4 or 5 of Section A the amount of bond anticipation notes issued, or proposed to be issued, in anticipation of the bonds proposed to be sold, the amount of which bonds is entered at Part 2 of Section A. This will result in a double inclusion of indebtedness.
6. ESTIMATE OF STATE AID APPORTIONMENT. A school district which completes paragraph 1 of Section C of this statement may obtain three certified copies of the estimate of the Commissioner of Education, referred to in such section, from the State Department of Education without charge. A certified copy of the estimate must be attached to each of the copies which are filed in accordance with Instruction 3 above. Section 121.20 of the Local Finance Law provides that the estimate is effective only until June 30 next succeeding the date thereof.
7. FEES FOR COPIES. Should it be necessary to obtain a copy, certified copy or exemplified copy of a debt statement filed with the State Comptroller, the same may be obtained upon prepayment of the following fees: (Local Finance Law, Section 141.00(c)).
1. Copy (not certified)
 
$1.50
2. Certified copy where copy is presented for certification
 
1.50
3. Certified copy where copy is not presented for certification
 
2.00
4. Exemplified copy where copy is presented for exemplification
 
2.50
5. Exemplified copy where copy is not presented for exemplification
 
3.00
An additional fee of 10¢ per folio is charged where entries in Parts 1 and 2 of Schedule A at Page 4 exceed ten folios. Make check payable to ‘State Comptroller'.
Form A. C. 972-2
SECTION A. BONDED INDEBTEDNESS
1. Outstanding Bonds and Bond Anticipation Notes
 
Outstanding bonds
 
 
$
__
Outstanding bond anticipation notes
 
 
__
(Do not include notes issued in anticipation of the bonds
 
at Part 2 below. See Instruction 5)
2. Bonds of the Proposed Bond Issue in Connection with which
 
this Debt Statement is Prepared
Bonds proposed to be sold
 
 
__
3. Bond Anticipation Notes of the Proposed Note Issue in
 
Connection with which this Debt Statement is Prepared
 
Bond anticipation notes proposed to be sold
 
 
__
(Do not include notes issued, or proposed to be issued,
 
in anticipation of bonds at Part 2 above, See Instruction 5)
4. Bonded Indebtedness of a Merged or Annexed School District
 
(a) Enter the amount of outstanding bonds and bond antici-
 
pation notes ofschool districts which merged to form the
 
reporting school district, whether or not any of such
 
other school districts prior to such merger, had an aggre-
 
gate assessed valuation of $100,000 or more and whether
 
or not any of such other school districts still exist for
 
the purpose of paying off its indebtedness or distributing
 
its property
 
 
__
 
(b) Enter the amount of outstanding bonds and bond antici-
 
pation notes of any school district which was annexed to
 
the reporting school district, whether or not such annexed
 
school district had an aggregate assessed valuation of
 
$100,000 or more, prior to such annexation, and whether
 
or not it still exists for the purpose of paying off its
 
indebtedness or distributing its property
 
 
__
(c) Enter the appropriate proportion of the amount of out-
 
standing bonds and bond anticipation notes of any school
 
district part of which was annexed to the reporting school
 
district, whether or not the aggregate assessed valua-
 
tion of such partially annexed school district, prior to
 
such annexation, was $100,000 or more.
The proportion of
 
the amount of such outstanding bonds and bond anticipa-
 
tion notes to be so included shall be ascertained by multi-
 
plying the amount of such bonds and bond anticipation
 
notes by the percentage or ratio, at the time of annexa-
 
tion, that the average assessed valuation of the portion
 
of the school district annexed bore to the average
 
assessed valuation of the whole of such partially
 
annexed school district as it existed prior to such
 
annexation
 
 
__
(See definition of ‘average assessed valuation' at subdivision 7 of section 2.00 of the Local Finance Law.)
 
5. Bonds and Bond Anticipation Notes Issued by a City which
 
the School District will be Required to Pay Pursuant to Law
 
Bonds
 
 
__
Bond anticipation notes
 
 
__
(Do not include notes issued in anticipation of bonds at
 
Part 2 above. See Instruction 5)
Total
 
 
$ __
 
__
SECTION B. PROPOSED ISSUE
The amount of bonds included in Section A(2) to be sold at (public) (private) sale on __, 19 _, is $ _. The amount of bond anticipation notes included in Section A(3) proposed to be sold at (public) (private) sale on __, 19 _, is $ _. The school district will not sell any bonds or bond anticipation notes at public or private sale between the date as of which this statement is prepared and the date of sale above-mentioned except as follows:
(no exceptions)
Form A. C. 972-3
SECTION C. EXCLUSIONS
1. The amount of indebtedness evidenced by bonds and bond
 
anticipation notes, included in Section A, contracted or
 
to be contracted for objects or purposes having periods
 
of probable usefulness provided in subdivisions 11, 12
 
and 13 of paragraph a of section 11.00 of the Local
 
Finance Law and in relation to which the Commissioner
 
of Education has estimated pursuant to section 121.20 of
 
such law that moneys receivable by the school district
 
from the State of New York as an apportionment of state
 
aid for debt service for school building purposes will
 
meet the interest on and the annual requirements for the
 
payment of such indebtedness, is
 
 
$
__
(A certified copy of such estimate is attached to and
 
forms a part of this debt statement. (See Instruction 6)).
2. Indebtedness contracted to finance acquisition, construc-
 
tion, and installation of a shelter or fallout shelter
 
 
__
(Maximum amount of exclusion shall not exceed $50.00
 
multiplied by the planned shelter occupancy.
Defense
 
Emergency Act, Section 29(3)).
Total
 
 
$__
 
__
SECTION D. NET INDEBTEDNESS
Bonded Indebtedness (Enter Total of Section A)
 
 
$__
Less: Exclusions (Enter Total of Section C (1 and 2), if claimed)
 
 
$__
Total Net Indebtedness
 
 
$ __
 
__
SECTION E. FULL VALUATION OF REAL PROPERTY SUBJECT TO TAXATION BY SCHOOL DISTRICT
SECTION F. BONDED DEBT LIMIT
The bonded debt limit of the school district is
 
 
$__
(The amount of the limit will be computed by multiplying
the full valuation of real property subject to taxation by
the school district by.10. See Section E).
SECTION G. DEBT-CONTRACTING MARGIN
Debt Limit (Enter amount of Section F)
 
 
$ __
Less: Net Indebtedness (Enter amount of Section D)
 
 
__
Net Debt-Contracting Margin
 
 
$ __
 
__
SECTION H. CONSENT TO EXCEED DEBT LIMIT
The Board of Regents has consented to the issuance of the bonds proposed to be issued by consent dated __.
(If Debt-Contracting Margin is "minus", or if this bond issue will produce a "minus" margin, such consent must be obtained. Local Finance Law, Section 104.00(d)).
Form A. C. 972-5
VERIFICATION BY CHIEF FISCAL OFFICER
State of New York
 
)
 
) ss:
County of
__
 
)
__, being duly sworn, deposes and says: That he is the duly (elected) (appointed), qualified, and acting chief fiscal officer of ____, in the (Town) (Towns) (City) of ____ in the (County) (Counties) of ____, New York; that he prepared and has read the foregoing debt statement and knows the contents thereof, that the same is true to (his) (her) own knowledge except as to the matters therein stated to be alleged upon information and belief, and that as to those matters, he believes it to be true.
Subscribed and sworn to before me this
 
____________
__
day of
____________
, 19
_
.
 
Title __________
Notary Public
 
Mail Address ________
2 CRR-NY App. 9
Current through February 28, 2022
End of Document