§ 380. Financing transition period.

137 words·~1 min read·/ny/county/finance/380

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§ 380. Financing transition period. In counties which, upon the

effective date of this section, operate on the basis of a fiscal year

expiring prior to December thirty-first, nineteen hundred fifty, there

may be included in the first tentative budget prepared pursuant to this

article an amount sufficient to pay, in whole or in part, all accounts,

claims and demands against the county and obligations of the county,

duly audited or otherwise payable by the county for or during the period

elapsing between the date upon which such fiscal year would have expired

and January first, nineteen hundred fifty-one; provided, however, that a

county may finance, in whole or in part, the payment of obligations and

expenses falling due during such period by the issuance of serial bonds

or capital notes pursuant to the local finance law.