1. The Laws of New York
  2. Unconsolidated Laws
  3. Private Activity Bond 47/90
  4. Title 1: * Private Activity Bond Allocation Act of 1990


Section 7 Overlapping jurisdictions

Private Activity Bond 47/90 (PAB)

In a geographic area represented by a county local agency and one or more sub-county local agencies, the allocation granted by section three of this act with respect to such area of overlapping jurisdiction shall be apportioned one-half to the county local agency and one-half to the sub-county local agency or agencies. Where there is a local agency for the benefit of a village within the geographic area of a town for the benefit of which there is a local agency, the allocation of the village local agency shall be based on the population of the geographic area of the village, and the allocation of the town local agency shall be based upon the population of the geographic area of the town outside of the village. Notwithstanding the foregoing, a local agency may surrender all or part of its allocation for such calendar year to another local agency with an overlapping jurisdiction. Such surrender shall be made at such time and in such manner as the commissioner shall prescribe. * NB Repealed January 1, 1991