Legislation

§ 121.30 Exclusion of certain indebtedness of school districts other
than school districts in a city with one hundred twenty-five thousand
inhabitants or more according to the latest federal census. In
ascertaining the power of a school district, other than a school
district in a city with one hundred twenty-five thousand inhabitants or
more according to the latest federal census, to contract indebtedness
under section 104.00 of this article, there may be excluded outstanding
bonds and bond anticipation notes or indebtedness proposed to be
contracted and to be evidenced by bonds or bond anticipation notes to
finance the acquisition, construction and installation of a shelter or
fallout shelter by such school district pursuant to section
twenty-three-a of the New York state defense emergency act, but only to
the extent to which such indebtedness, at the time it was contracted or
is to be contracted, did not or will not exceed fifty dollars multiplied
by the planned shelter occupancy of such shelter.