N.Y. Comp. Codes R. & Regs. tit. 2 § 61.3

Current through Register Vol. 46, No. 36, September 4, 2024

Section 61.3 - Contents

The application shall contain:

(a) The date of the commencement and termination of the fiscal year of the city in which the application is filed, and the same information for the preceding fiscal year.

(b) A brief description of the project or projects in relation to which an exclusion of housing indebtedness is sought.

(c) A statement as to whether the project or projects are aided by (1) a guarantee or guarantees of the city representing indebtedness which the city seeks to exclude or (2) a loan or loans from the city for which the city contracted indebtedness which the city seeks to exclude. Any guarantee or guarantees or loan or loans shall be described in reasonable detail.

(d) A statement, as to each project, of the indebtedness sought to be excluded which arises from such guarantee or guarantees or loan or loans. The amount of any indebtedness arising from a guarantee shall be ascertained pursuant to section 143.00 of the Local Finance Law.

(e) A statement of the gross revenues of each project actually received during such preceding fiscal year. In computing gross revenues, periodic subsidies received in cash shall be included but shall be identified as to amounts and sources.

(f) A statement, as to each project, of the amount incurred during such preceding fiscal year for the costs of operation, maintenance, repairs and replacements; the amount of the interest due and paid on any such indebtedness during such preceding fiscal year; and the amounts required in such preceding fiscal year for the payment of any such indebtedness. In any such computation, the amounts paid into a fund, from which costs of operation, maintenance, repairs and replacements are intended and required to be paid in a subsequent year, shall be deemed a cost for such preceding fiscal year, but amounts expended from any such fund shall not be deemed an expenditure for costs of operation, maintenance, repairs or replacements in the year of expenditure.

(g) A statement of the amount of the net revenue, which in the opinion of such chief fiscal officer, was yielded by each such project during such preceding fiscal year.

(h) A declaration, as to each project, in the case of a project or projects aided by a guarantee or guarantees, that the interest on and the amounts required for the payment of such indebtedness in such preceding fiscal year were paid during such preceding fiscal year from such gross revenues.

(i) A declaration, in the case of a project or projects aided by a loan or loans, that the amount which the city was required to pay during such preceding fiscal year for interest on and principal of such indebtedness was paid to the city during such year from such gross revenues.

(j) The application shall contain a statement, as to each project, that expenditures actually made for the purposes set forth in subdivision (f) above and that amounts required for the payment of such indebtedness and interest as specified in subdivision (f), were made or set aside from the gross revenues described in subdivision (e) above.

(k) The application shall contain a statement of the chief fiscal officer that the project or projects were maintained in good condition in such preceding fiscal year and that no item of maintenance, operation, repairs and replacements normal for such preceding fiscal year was deferred to a subsequent fiscal year.

(l) The application may contain or be supported by such documents, computations, data and information as such chief fiscal officer shall deem pertinent.

N.Y. Comp. Codes R. & Regs. Tit. 2 § 61.3