N.Y. Public Authorities Law Section 1036

No bonds shall be issued under this title by the authority in an aggregate amount at any time outstanding exceeding ten million dollars. No such bonds shall be issued by the authority without the approval of a majority of the electors of the district voting on the question of such approval. Such question may be submitted by the board of supervisors either at a general election or a special election called for such purpose. The question submitted to the electors of the district shall be: “Shall the authority issue not exceeding (filling in the amount) dollars bonds under the Albany Light, Heat and Power Authority Act?” If such proposition is adopted, the authority may issue bonds under the power so given. The submission of such question and the conduct of and canvass of the votes cast at such election in the district shall be provided for by the board of supervisors as nearly as may be in accordance with the provisions of the election law. Notice of the submission of such question and a general statement of the purposes to which the proceeds of the bonds are to be applied shall be published in the official newspapers of the county, designated by the board of supervisors, once a week for six weeks immediately preceding such election. At any time prior to the election at which such question is to be submitted to the electors for approval, the board of supervisors may, not later than fifteen days prior to such election, rescind its action in submitting the same whereupon such question shall not be submitted at such election, or, if submitted, the vote of the electors thereon shall be without effect. Neither the submission of such question nor the validity or result of such election shall be questioned in any court or elsewhere except in an action or proceeding commenced not later than twenty days after the determination of such result by the county board of canvassers has been filed in the office of the county board of elections. * NB Terminated July 1, 1963

Source: Section 1036 — Referendum, https://www.­nysenate.­gov/legislation/laws/PBA/1036 (updated Sep. 22, 2014; accessed Nov. 25, 2023).

Nov. 25, 2023

Last modified:
Sep. 22, 2014

§ 1036’s source at nysenate​.gov

Link Style