Appendix 9., Appendices, TITLE 2. Department of Audit and Control, New York Codes Rules Regulations

New York Codes Rules Regulations (Last Updated: March 27,2024)

TITLE 2. Department of Audit and Control

Appendices

Appendix 9.

Form A. C. 972 (1963 Rev.)

School Districts outside Cities

DEBT STATEMENT

________________________

in the _______ of ______________

________________________

________________ COUNTY, NEW YORK

PREPARED AS OF

_________, 19_

Form A.C.972-1

School Districts outside CitiesINSTRUCTIONS

1. WHEN FILING IS REQUIRED. A debt statement must be filed not more than fifteen days nor less than three days before any school district having an aggregate assessed valuation of real property of $100,000 or over sells any bonds which are required to be sold at public sale. Local Finance Law, Section 109.00(a).

2. DATE OF PREPARATION. The statement must be prepared as of a date not more than thirty days previous to the date of sale of the bonds. Local Finance Law. Section 109.00(a).

3. PLACE OF FILING. The statement must be filed with the State Comptroller. To insure prompt delivery to the correct filing office, address envelope as follows: ‘Department of Audit and Control, Division of Municipal Affairs, 110 State Street, Albany, New York 12236-0001’. A duplicate copy must be filed with the clerk (or corresponding officer) of the school district. Local Finance Law Section 109.00(a).

4. VERIFICATION. The statement must be verified by the chief fiscal officer of the school district. In school districts, the chairman or president of the school board is the chief fiscal officer. In the case of common school districts having a sole trustee, the sole trustee is the chief fiscal officer.

5. BOND ANTICIPATION NOTES. (a) In connection with the sale of bond anticipation notes, a school district may prepare a debt statement and may file such statement in the manner provided in Section 309.00 of the Local Finance Law. Local Finance Law, Section 137.00 (last sentence). In such case enter the amount of such notes at Part 3 of Section A on Page 2.

(b) Where bonds are being sold, do not include in Part 1, 2, 3, 4 or 5 of Section A the amount of bond anticipation notes issued, or proposed to be issued, in anticipation of the bonds proposed to be sold, the amount of which bonds is entered at Part 2 of Section A. This will result in a double inclusion of indebtedness.

6. ESTIMATE OF STATE AID APPORTIONMENT. A school district which completes paragraph 1 of Section C of this statement may obtain three certified copies of the estimate of the Commissioner of Education, referred to in such section, from the State Department of Education without charge. A certified copy of the estimate must be attached to each of the copies which are filed in accordance with Instruction 3 above. Section 121.20 of the Local Finance Law provides that the estimate is effective only until June 30 next succeeding the date thereof.

7. FEES FOR COPIES. Should it be necessary to obtain a copy, certified copy or exemplified copy of a debt statement filed with the State Comptroller, the same may be obtained upon prepayment of the following fees: (Local Finance Law, Section 141.00(c)).

1. Copy (not certified)

$1.50

2. Certified copy where copy is presented for certification

1.50

3. Certified copy where copy is not presented for certification

2.00

4. Exemplified copy where copy is presented for exemplification

2.50

5. Exemplified copy where copy is not presented for exemplification

3.00

An additional fee of 10¢ per folio is charged where entries in Parts 1 and 2 of Schedule A at Page 4 exceed ten folios. Make check payable to ‘State Comptroller'.

Form A. C. 972-2

SECTION A. BONDED INDEBTEDNESS

1. Outstanding Bonds and Bond Anticipation Notes

Outstanding bonds

Outstanding bond anticipation notes

(Do not include notes issued in anticipation of the bonds

at Part 2 below. See Instruction 5)

2. Bonds of the Proposed Bond Issue in Connection with which

this Debt Statement is Prepared

Bonds proposed to be sold

3. Bond Anticipation Notes of the Proposed Note Issue in

Connection with which this Debt Statement is Prepared

Bond anticipation notes proposed to be sold

(Do not include notes issued, or proposed to be issued,

in anticipation of bonds at Part 2 above, See Instruction 5)

4. Bonded Indebtedness of a Merged or Annexed School District

(a) Enter the amount of outstanding bonds and bond antici-

pation notes ofschool districts which merged to form the

reporting school district, whether or not any of such

other school districts prior to such merger, had an aggre-

gate assessed valuation of $100,000 or more and whether

or not any of such other school districts still exist for

the purpose of paying off its indebtedness or distributing

its property

(b) Enter the amount of outstanding bonds and bond antici-

pation notes of any school district which was annexed to

the reporting school district, whether or not such annexed

school district had an aggregate assessed valuation of

$100,000 or more, prior to such annexation, and whether

or not it still exists for the purpose of paying off its

indebtedness or distributing its property

standing bonds and bond anticipation notes of any school

district part of which was annexed to the reporting school

district, whether or not the aggregate assessed valua-

tion of such partially annexed school district, prior to

such annexation, was $100,000 or more.

The proportion of

the amount of such outstanding bonds and bond anticipa-

tion notes to be so included shall be ascertained by multi-

plying the amount of such bonds and bond anticipation

notes by the percentage or ratio, at the time of annexa-

tion, that the average assessed valuation of the portion

of the school district annexed bore to the average

assessed valuation of the whole of such partially

annexed school district as it existed prior to such

annexation

(See definition of ‘average assessed valuation' at subdivision 7 of section 2.00 of the Local Finance Law.)

5. Bonds and Bond Anticipation Notes Issued by a City which

the School District will be Required to Pay Pursuant to Law

Bonds

Bond anticipation notes

(Do not include notes issued in anticipation of bonds at

Part 2 above. See Instruction 5)

Total

$ __

SECTION B. PROPOSED ISSUE

The amount of bonds included in Section A(2) to be sold at (public) (private) sale on __, 19 _, is $ _. The amount of bond anticipation notes included in Section A(3) proposed to be sold at (public) (private) sale on __, 19 _, is $ _. The school district will not sell any bonds or bond anticipation notes at public or private sale between the date as of which this statement is prepared and the date of sale above-mentioned except as follows:

(no exceptions)

Form A. C. 972-3

SECTION C. EXCLUSIONS

1. The amount of indebtedness evidenced by bonds and bond

anticipation notes, included in Section A, contracted or

to be contracted for objects or purposes having periods

of probable usefulness provided in subdivisions 11, 12

and 13 of paragraph a of section 11.00 of the Local

Finance Law and in relation to which the Commissioner

of Education has estimated pursuant to section 121.20 of

such law that moneys receivable by the school district

from the State of New York as an apportionment of state

aid for debt service for school building purposes will

meet the interest on and the annual requirements for the

payment of such indebtedness, is

(A certified copy of such estimate is attached to and

forms a part of this debt statement. (See Instruction 6)).

2. Indebtedness contracted to finance acquisition, construc-

tion, and installation of a shelter or fallout shelter

(Maximum amount of exclusion shall not exceed $50.00

multiplied by the planned shelter occupancy.

Defense

Emergency Act, Section 29(3)).

Total

$__

SECTION D. NET INDEBTEDNESS

Bonded Indebtedness (Enter Total of Section A)

$__

Less: Exclusions (Enter Total of Section C (1 and 2), if claimed)

$__

Total Net Indebtedness

$ __

SECTION E. FULL VALUATION OF REAL PROPERTY SUBJECT TO TAXATION BY SCHOOL DISTRICT

SECTION F. BONDED DEBT LIMIT

The bonded debt limit of the school district is

$__

(The amount of the limit will be computed by multiplying

the full valuation of real property subject to taxation by

the school district by.10. See Section E).

SECTION G. DEBT-CONTRACTING MARGIN

Debt Limit (Enter amount of Section F)

$ __

Less: Net Indebtedness (Enter amount of Section D)

Net Debt-Contracting Margin

$ __

SECTION H. CONSENT TO EXCEED DEBT LIMIT

The Board of Regents has consented to the issuance of the bonds proposed to be issued by consent dated __.

(If Debt-Contracting Margin is "minus", or if this bond issue will produce a "minus" margin, such consent must be obtained. Local Finance Law, Section 104.00(d)).

Form A. C. 972-5

VERIFICATION BY CHIEF FISCAL OFFICER

State of New York

)

) ss:

County of

)

__, being duly sworn, deposes and says: That he is the duly (elected) (appointed), qualified, and acting chief fiscal officer of ____, in the (Town) (Towns) (City) of ____ in the (County) (Counties) of ____, New York; that he prepared and has read the foregoing debt statement and knows the contents thereof, that the same is true to (his) (her) own knowledge except as to the matters therein stated to be alleged upon information and belief, and that as to those matters, he believes it to be true.

Subscribed and sworn to before me this

____________

day of

____________

, 19

Title __________

Notary Public

Mail Address ________