Section 5-101
§ 5-101 Definitions. As used in this chapter:
1. The term "capital project" shall mean:
(a) Any physical public betterment or improvement of any preliminary
studies and surveys relative thereto, which would be classified as
capital expenditures under generally accepted accounting principles for
municipalities.
(b) The acquisition of property of a permanent nature including wharf
property.
(c) The acquisition of any furnishings, machinery, apparatus or
equipment for any public betterment or improvement when such betterment
or improvement is first constructed or acquired.
(d) Any public betterment involving either a physical improvement or
the acquisition of real property for a physical improvement consisting
in, including or affecting:
(1) streets and parks;
(2) bridges and tunnels;
(3) receiving basins, inlets and sewers, including intercepting
sewers, plants or structures for the treatment, disposal or filtration
of sewage, including grit chambers, sewer tunnels and all necessary
accessories thereof;
(4) the fencing of vacant lots and the filling of sunken lots.
(e) Any combination of the above.
2. The term "pending" shall mean not yet completed.
Section 5-102
§ 5-102 Additional items in report of comptroller. On or before the
first day of September in each year the comptroller shall submit to the
mayor, the board of estimate and the council a statement showing the
funded debt of the city at the close of business on the preceding
thirtieth day of June and a statement setting forth the constitutional
debt-incurring power, or debt limit, of the city as of the preceding
first day of July.
Section 5-103
§ 5-103 Departmental estimates; details. The departmental estimates of
capital projects submitted pursuant to the provisions of section two
hundred fourteen of the charter shall clearly distinguish between those
that are for new projects and those that are for the continuance of
projects already under way. In the case of pending projects, estimates
shall be submitted showing the amount required to continue such projects
throughout the next fiscal year, the amount required to complete such
projects and the amount already appropriated for such projects.
Departmental estimates shall also include detailed estimates of new
projects which the head of each agency believes should be undertaken
within the ensuing fiscal year and the three succeeding fiscal years.
Each departmental estimate shall include the estimated maintenance
charges of the project when completed.
Section 5-104
§ 5-104 Departmental estimates; not submitted on time. If a
departmental estimate is not submitted on such date as the mayor may
direct, the director of management and budget shall cause to be prepared
such estimate and data necessary to include a detailed estimate of all
capital projects pending or which the director believes should be
undertaken within the ensuing fiscal year and the three succeeding
fiscal years. In no event later than the fifteenth day of January, or
such earlier date as the mayor may direct, the director of management
and budget will forward copies of such estimate to the secretary of the
board of estimate, the council and each community board and borough
board.
Section 5-105
§ 5-105 Adoption of capital budget not authorization for expenditures.
The adoption of the capital budget shall in no way constitute an
authorization to proceed with the expenditure of the funds except as
provided in section two hundred twenty-eight of the charter.
Section 5-106
§ 5-106 Capital projects; contracts; certification of debt incurring
power. Before any contract for any of the projects authorized within the
capital budget shall be approved by the mayor, the comptroller shall
certify in writing to the mayor that there is sufficient margin of
constitutional debt-incurring power legally to enable the registration
of such contract or contracts within such constitutional limitation.
Section 5-107
§ 5-107 New York city housing development corporation capital reserve
fund. So long as any notes or bonds of the New York city housing
development corporation issued pursuant to article twelve of the private
housing finance law shall be outstanding and unpaid, amounts needed for
the purpose of restoring the capital reserve fund to the maximum capital
reserve fund requirement pursuant to such article are hereby authorized
to be paid to the corporation for deposit therein from the sources
specified in paragraph e of subdivision one of section six hundred
fifty-six of such law; provided, however, that no such amounts are
authorized to be paid in notes or bonds of the corporation issued for
the purpose of making loans pursuant to article eight of the private
housing finance law. However, such payments may be made, notwithstanding
the issuance of notes and bonds of the corporation for the purpose of
making loans pursuant to article eight of the private housing finance
law provided that:
(1) the corporation shall have delivered to the council a report
describing the site selection criteria, standards for development plans,
management program and other safeguards it will impose in making loans
pursuant to article eight of the private housing finance law, which said
report shall in any event be delivered to the council no later than
August eight, nineteen hundred seventy-two; (2) the aggregate amount of
loans to be made by the corporation pursuant to article eight of the
private housing finance law for any fiscal year of the city shall be set
forth in a statement which shall accompany the proposed executive
capital budget (but not be considered a part thereof), as submitted to
the board of estimate and council pursuant to section two hundred
nineteen of the charter, and such aggregate amounts shall be adopted,
and may thereafter be amended, in accordance with the procedures set
forth in chapter nine of the charter for the adoption and amendment of
the capital budget; and (3) the chairperson of the corporation shall
certify with respect to each mortgage loan issued pursuant to article
eight of the private housing finance law that the estimated revenues
from the mortgage property, including subsidies, after rehabilitation
will be sufficient in amount to secure repayment of the loan and
interest thereon and to pay all of the necessary expenses of the
mortgagor relating to such property.
To the extent possible under law, Friends of Devin Balkind for Public Advocate has waived all copyright and related or neighboring rights to New York City Administrative Code. This work is published from: United States.
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