CITY OF NIAGARA FALLS

LOCAL LAW No. 1

A local law providing for the establishing, maintaining and investing of sinking funds in said city.

Became a law February 14, 1927, with the approval of the Council. Passed by the local legislative body of the city of Niagara Falls.

Be it enacted by the city council of the city of Niagara Falls, New York, as follows:

Section 1. Section seventy-one of article four of chapter five hundred and thirty of the laws of nineteen hundred and sixteen of the state of New York is hereby superseded and enacted as local law and amended to read as follows:

§ 71. The bonds of said city by any provision of the last three sections authorized to be issued shall bear interest at a rate not exceeding five per centum per annum and shall be sold at not less than par, and shall be of such denomination and payable, principal and interest, at such place or places and at such time or times as the council shall determine, except as hereinafter provided. Said bonds shall be signed by the mayor, attested by the city clerk and the seal of the city, and shall be countersigned by the city treasurer, and the city clerk and the city treasurer shall each keep in a book to be provided for that purpose a record of the number, denomination, rate of interest, date and maturity of every bond attested and countersigned by them and a like record of every bond negotiated and delivered with the name of the purchaser and the amount realized therefor. Said bonds shall be retained by the city treasurer when countersigned by him, and it shall be his duty to safely keep and have the custody of the same continually until negotiated and sold as herein provided. The city manager shall negotiate and sell all such bonds to the highest bidder therefor, and when any such sale has been completed the city treasurer shall, when authorized by resolution of the council so to do, but not otherwise, deliver such bonds to the purchaser thereof upon receipt by him of the amount or price named in the resolution authorizing such delivery. Every such bond when so delivered by said treasurer shall be and then become an obligation against the city of Niagara Falls for principal and interest. A sinking fund shall be created on the issuing of such bonds for their redemption, and upon this act taking effect for the redemption of all such bonds heretofore issued, by raising annually a sum which will produce an amount equal to the sum of the principal and interest of said bonds at their maturity. The amounts to be annually paid or placed in the sinking fund as in this section provided shall be taken from the water revenue of said city, if sufficient there be after paying other charges thereon, and any deficiency thereof levied and collected along with and as a part of the other taxes of said city.

§ 2. Section one hundred and ninety-nine of article eight of chapter five hundred and thirty of the laws of nineteen hundred and sixteen of the state of New York, is hereby superseded and enacted as local law and amended to read as follows:

§ 199. The council may, and where required by this act shall in any year raise by general tax such further sum or sums as shall be authorized by any provision of this act, or as shall have been voted by a majority of the inhabitants of said city, entitled to vote, and voting to raise such additional sum or sums at an annual or special election called for that purpose, as herein provided. The council may annually make provisions for the payment of the principal of the bonded indebtedness of said city by adding to the general fund estimates a sum per annum which will be sufficient in the aggregate to pay the indebtedness for the payment of which said sinking fund is created, at maturity of such indebtedness, which shall be held by the city treasurer of said city as a sinking fund to be used by him in the payment of the principal of the bonds and certificates now outstanding or which may hereafter be issued by said city, when and as the same may become due and for no other purpose.

§ 3. Article eight of chapter five hundred and thirty of the laws of nineteen hundred and sixteen of the state of New York is hereby amended by adding thereto a section to be known as section one hundred and ninety-nine-a and enacted as local law to read as follows:

§ 199-a. The city council of said city is hereby authorized to invest and reinvest any sinking fund created by it, as in its judgment may be expedient, in the bonds or certificates of the city of Niagara Falls, New York or in any bonds, certificates or securities, approved by the unanimous consent of all the members of the city council. The proceeds of such investments shall be placed to the credit of said sinking fund and shall be used for no other purpose than the payment of the indebtedness for the payment of which said sinking fund was created; provided, however, that should there remain a surplus in such sinking fund after the payment of the said indebtedness for which it was created, such surplus shall forthwith be transferred and paid into the general surplus fund of said city.

§ 4. This local law shall take effect immediately.

LOCAL LAW No. 2

A local law relating to the annexation of the village of LaSalle, state of New York, to the city of Niagara Falls, state of New York, and providing for a financial budget for that portion of said city comprised within said village heretofore, and for the assessment and levy of taxes for the purpose of meeting said budget for the period ending December thirty-first, nineteen hundred and twenty-seven.

Became a law May 23, 1927, with the approval of the Council. the local legislative body of the city of Niagara Falls.

Passed by

Be it enacted by the city council of the city of Niagara Falls, state of New York, as follows:

Section 1. Chapter five hundred and thirty of the laws of nineteen hundred and sixteen entitled "An act to provide a charter for the city of Niagara Falls" is hereby amended by adding at the end of article sixteen thereof as provided in chapter five hundred and thirty of the laws of nineteen hundred and twenty-seven entitled "An act to consolidate into one municipality the city of Niagara Falls, New York, and the village of LaSalle, New York, with necessary provisions affecting said city and village and the town of Niagara, and to amend the charter of said city generally," four new sections to be known as sections four hundred and seven, four hundred and eight, four hundred and nine and four hundred and ten, to read as follows:

§ 407. That portion of the city of Niagara Falls, New York, comprised within that portion contained in the village of LaSalle, New York, April twenty-eighth, nineteen hundred and twentyseven, is hereby constituted a special tax district for the purpose of administering said portion of said city comprised in said village on said date to December thirty-first, nineteen hundred and twenty-seven. Nothing in this act or local law contained shall affect any of the provisions of chapter five hundred and thirty of the laws of nineteen hundred and sixteen entitled "An act to provide a charter for the city of Niagara Falls" and as amended and superceded, or affect the preparation of the budget or assessment and levying of taxes in said city generally after January first, nineteen hundred and twenty-eight.

§ 408. The city manager of said city shall, immediately after June first, nineteen hundred and twenty-seven, prepare a budget showing the estimate of the various items for the administration of that portion of said city of Niagara Falls comprised within the village of LaSalle, April twenty-eighth, nineteen hundred and twenty seven, necessary to provide for the operation of the various departments of said city affecting said portion of said city and to meet any outstanding current bills or obligations existing against said village of LaSalle, June second, nineteen hundred and twenty-seven, and not included in the bonded indebtedness of said village. Said budget shall be submitted by said city manager to the city council for its action and approval not later than June twentieth, nineteen hundred and twenty-seven, and said budget as the same may be amended by said city council shall

§ 2. Section one hundred and ninety-nine of article eight of chapter five hundred and thirty of the laws of nineteen hundred and sixteen of the state of New York, is hereby superseded and enacted as local law and amended to read as follows:

§ 199. The council may, and where required by this act shall in any year raise by general tax such further sum or sums as shall be authorized by any provision of this act, or as shall have been voted by a majority of the inhabitants of said city, entitled to vote, and voting to raise such additional sum or sums at an annual or special election called for that purpose, as herein provided. The council may annually make provisions for the payment of the principal of the bonded indebtedness of said city by adding to the general fund estimates a sum per annum which will be sufficient in the aggregate to pay the indebtedness for the payment of which said sinking fund is created, at maturity of such indebtedness, which shall be held by the city treasurer of said city as a sinking fund to be used by him in the payment of the principal of the bonds and certificates now outstanding or which may hereafter be issued by said city, when and as the same may become due and for no other purpose.

§ 3. Article eight of chapter five hundred and thirty of the laws of nineteen hundred and sixteen of the state of New York is hereby amended by adding thereto a section to be known as section one hundred and ninety-nine-a and enacted as local law to read as follows:

§ 199-a. The city council of said city is hereby authorized to invest and reinvest any sinking fund created by it, as in its judgment may be expedient, in the bonds or certificates of the city of Niagara Falls, New York or in any bonds, certificates or securities, approved by the unanimous consent of all the members of the city council. The proceeds of such investments shall be placed to the credit of said sinking fund and shall be used for no other purpose than the payment of the indebtedness for the payment of which said sinking fund was created; provided, however, that should there remain a surplus in such sinking fund after the payment of the said indebtedness for which it was created, such surplus shall forthwith be transferred and paid into the general surplus fund of said city.

§ 4. This local law shall take effect immediately.

LOCAL LAW No. 2

A local law relating to the annexation of the village of LaSalle, state of New York, to the city of Niagara Falls, state of New York, and providing for a financial budget for that portion of said city comprised within said village heretofore, and for the assessment and levy of taxes for the purpose of meeting said budget for the period ending December thirty-first, nineteen hundred and twenty-seven.

Became a law May 23, 1927, with the approval of the Council. Passed by the local legislative body of the city of Niagara Falls.

Be it enacted by the city council of the city of Niagara Falls, state of New York, as follows:

Section 1. Chapter five hundred and thirty of the laws of nineteen hundred and sixteen entitled "An act to provide a charter for the city of Niagara Falls" is hereby amended by adding at the end of article sixteen thereof as provided in chapter five hundred and thirty of the laws of nineteen hundred and twenty-seven entitled "An act to consolidate into one municipality the city of Niagara Falls, New York, and the village of LaSalle, New York, with necessary provisions affecting said city and village and the town of Niagara, and to amend the charter of said city generally,' four new sections to be known as sections four hundred and seven, four hundred and eight, four hundred and nine and four hundred and ten, to read as follows:

§ 407. That portion of the city of Niagara Falls, New York, comprised within that portion contained in the village of LaSalle, New York, April twenty-eighth, nineteen hundred and twentyseven, is hereby constituted a special tax district for the purpose of administering said portion of said city comprised in said village on said date to December thirty-first, nineteen hundred and twenty-seven. Nothing in this act or local law contained shall affect any of the provisions of chapter five hundred and thirty of the laws of nineteen hundred and sixteen entitled “An act to provide a charter for the city of Niagara Falls" and as amended and superceded, or affect the preparation of the budget or assessment and levying of taxes in said city generally after January first, nineteen hundred and twenty-eight.

§ 408. The city manager of said city shall, immediately after June first, nineteen hundred and twenty-seven, prepare a budget showing the estimate of the various items for the administration of that portion of said city of Niagara Falls comprised within the village of LaSalle, April twenty-eighth, nineteen hundred and twenty seven, necessary to provide for the operation of the various departments of said city affecting said portion of said city and to meet any outstanding current bills or obligations existing against said village of LaSalle, June second, nineteen hundred and twenty-seven, and not included in the bonded indebtedness of said village. Said budget shall be submitted by said city manager to the city council for its action and approval not later than June twentieth, nineteen hundred and twenty-seven, and said budget as the same may be amended by said city council shall