[HISTORY: Adopted by the Council of the City of New Rochelle 6-7-1948
by Ord. No. 163-1948; amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. II). Other amendments noted where applicable.]
The power of the Council constituting the Finance Board of the City
of New Rochelle, as defined by the Local Finance Law of the State of New York,
in relation to the authorization of bond anticipation notes to be issued in
anticipation of the issuance of serial bonds theretofore authorized by ordinance
or resolution, of tax anticipation notes and revenue anticipation notes of
said City, or the renewals thereof and all the power of such finance board
to prescribe the terms, form and contents in relation to every or any type
of serial bond or note of the City, together with the powers and duties prescribed
in §§ 57.00 to 60.00, both inclusive, of said Local Finance
Law, and any other powers or duties pertaining or incidental to the sale and
issuance of obligations of the City, are hereby delegated to the Commissioner
of Finance, being the chief fiscal officer as defined by said law, pursuant
to §§ 30.00, 50.00 and 56.00 of said law, said powers and duties
to be exercised or performed by the Commissioner of Finance being subject
to such terms and conditions as such Finance Board may prescribe as to any
particular issue in the bond or note ordinance or resolution authorizing the
issuance of such bonds or notes.
The provisions of § 12-1 hereof shall not be construed to be a relinquishment by such Finance Board of the power to authorize the issuance of bond anticipation notes, tax anticipation notes or revenue anticipation notes, or the renewals thereof, by ordinance or resolution of such Board, when the Board may be in session. Whenever the Commissioner of Finance shall exercise the power to authorize the issuance of bond anticipation notes or tax anticipation notes or renewal anticipation notes, or the renewals thereof, pursuant to the power hereby delegated to him, he shall file with the City Clerk, for and on behalf of such Finance Board, a certificate in conformity with the requirements of § 30.00, Subdivision b, of said Local Finance Law.
The powers and duties hereby delegated to said Commissioner of Finance
by said Finance Board shall remain in full force and effect until said Finance
Board by ordinance shall elect to reassume the same.
