§ 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.