N.Y. Village Law § 14-1432 Levy of Taxes and Assessments to Pay Bonds Issued For a Sewerage System

• Library: New York Statutes
• Edition: 2023
• Currency: Current through 2023 NY Law Chapter 777
• Year: 2023
• Citation: N.Y. Village Law § 14-1432

The board of trustees of any village which shall have heretofore issued or may hereafter issue bonds for the purpose of paying the cost of constructing in said village a sewerage system, whether including or not including trunk lines, outfall sewers, disposal plants or lateral sewers, or private on-site wastewater disposal systems may, notwithstanding that any part of the expense of constructing such sewerage system or private on-site wastewater disposal system has theretofore been assessed upon lands benefited, determine and order that any portion of such cost, not exceeding in amount the aggregate amount of such bonds then outstanding, shall be assessed upon the lands benefited by the construction of such sewerage system or private on-site wastewater disposal system in the manner provided in this section. Any such resolution shall determine the aggregate amount of such bonds which shall then be outstanding and unpaid and shall fix the portion of each installment of maturities of said bonds which is thereafter to be assessed upon lands benefited, in the manner provided in this section. Any such resolution shall be subject to a permissive referendum. Prior to the first day of May in each year the board of trustees shall compute the aggregate amount of the portion of the principal of said bonds, to become due during the ensuing fiscal year which is required by said resolution to be assessed upon the lands benefited, and also the interest on such portion of said bonds to become due during such fiscal year, and shall assess such amount on the lands within said village, in proportion as nearly as may be to the benefit which each lot or parcel will derive from the construction of said sewerage system. After making such apportionment, the board of trustees shall serve on the owner of each such lot or parcel of land a notice of the completion of such apportionment ...