General Municipal Law 980-L — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 980-K Tax and debt limitations up ARTICLE 19-A Business Improvement Districts next SECTION 980-M District management association Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 980-L Expenditure of district funds General Municipal (GMU) CHAPTER 24, ARTICLE 19-A § 980-l. Expenditure of district funds. (a) The proceeds of any charge imposed pursuant to this article shall be held by the chief fiscal officer and shall be separately accounted for in the books and records of the municipality. None of the proceeds collected pursuant to this article shall be used for any purposes other than those set forth in the district plan. These funds may be paid out for district purposes in accordance with the general procedures for payment of other municipal expenditures. (b) All contracts for improvements, goods or services to be provided in the district shall be subject to all applicable provisions of the law relating to the letting of contracts by the municipality.