N.Y. Local Finance Law Section 38.10
Bond anticipation note resolution

  • form and contents
Whenever the finance board shall authorize the issuance of bond anticipation notes or renewals thereof, it shall do so by a “bond anticipation note resolution.” Each such resolution shall be properly dated and shall bear a title which will indicate that it relates to a bond anticipation note. Whenever a bond anticipation note has been duly authorized by a chief fiscal officer the certificate required to be filed by such officer pursuant to section 30.00 of this chapter shall bear a title which will indicate that it relates to a bond anticipation note. Every such resolution shall contain, in substance, at least the following provisions:

1.

A statement of the specific object or purpose or the class of objects or purposes for which the obligations to be authorized by such resolution are to be issued. Such specific object or purpose shall be described in brief and general terms sufficient for a reasonable identification.

2.

A specific reference to the bond resolution or resolutions authorizing the bonds in anticipation of the sale of which such notes are to be issued.

3.

A statement of the amount of bonds to be issued for such specific object or purpose or class of objects or purposes and whether such bonds are to be serial or sinking fund bonds.

4.

A statement of the amount of such bond anticipation notes to be issued.

5.

A statement of the amount of bond anticipation notes which are outstanding which had been previously issued in anticipation of the sale of such bonds.

6.

A statement as to whether or not such notes are renewal notes and if they are, the date of issuance of the original notes issued in anticipation of the sale of such bonds.

7.

A statement of the period of maturity of such notes.

8.

A statement indicating whether or not such notes are issued in anticipation of bonds for an assessable improvement.

Source: Section 38.10 — Bond anticipation note resolution; form and contents, https://www.­nysenate.­gov/legislation/laws/LFN/38.­10 (updated Jul. 30, 2021; accessed Dec. 13, 2025).

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Verified:
Dec. 13, 2025

Last modified:
Jul. 30, 2021

§ 38.10. Bond anticipation note resolution's source at nysenate​.gov

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