[HISTORY: Adopted by the Council of the City
of Schenectady 2-9-1970 by Ord.
No. 15274.[1]Amendments noted where applicable.]
GENERAL REFERENCES
Capital budget process — See Ch. 13.
Bonds — See Ch. 14.
Claim releases and insurance — See Ch. 20.
Purchasing — See Ch. 62.
[1]
Editor's Note: The provisions of this chapter
are derived from Chapter 2, Article IV, Secs. 2-77 through 2-82, and
Chapter 2, Article I, Sec. 2-7, of the former Revised Ordinances,
adopted 2-9-1970 by Ord. No. 15274.
The position of Director of Finance is hereby
created.
The facsimile signature of the Director of Finance
shall conform to the specimen as certified to the bank, trust company
or banking institution by delivery to it of a certified copy of such
signature.
A Deputy Director of Finance shall be designated,
who, in case of the absence or disability of the Director of Finance
or of a vacancy in that office, shall discharge the duties of that
office until the Director of Finance returns, his disability ceases
or the vacancy is filled, and he shall perform such other duties as
may from time to time be prescribed by law or by ordinance of the
Council or by the Mayor or the Director of Finance, not inconsistent
with the provisions of law or ordinance. The Deputy Director of Finance,
before entering upon the duties of his office, shall execute and file
with the City Clerk an official undertaking in the penal sum as is
now required by law.
[Amended 6-2-1986 by L.L. No. 3-1986]
The notice of publication by the Director of
Finance of the receipt of assessment rolls for the payment of water
rents and general City taxes shall have a heading not less than 1/2
inch in height containing, among other things, the following words:
"water rents due" or "general City taxes due."
[Added 5-17-1971 by Ord. No. 15515; amended 1-5-1981 by Ord. No. 80-161; 11-30-1987 by Ord. No. 87-75]
The Director of Finance is hereby authorized
to have tax and assessment searches made on any real estate in the
City when application is made to him in writing, in accordance with
Chapter 864 of the Laws of 1937. The fee for a complete search, whether
it be extension or continuation of a search for any one piece of property,
shall be $50.
[Added 4-2-1973 by Ord. No. 16032]
The Director of Finance shall impose the following
service charges for receiving, handling and disbursing the following
funds and coupons substituted by contractors in lieu of a retained
cash percentage:
A.
For all interest bearing securities submitted in accordance
with § 106 of the General Municipal Law, 5% of the matured
coupon amount shall be deducted from the City's payment to the contractor
for the coupons.
B.
For all interest bearing securities without coupons,
5% of the interest payable on such securities during the period held
by the Director of Finance.
C.
For all non-interest-bearing securities submitted
in accordance with § 106 of the General Municipal Law, a
twenty-five-dollar fee will be charged for each security submitted.
D.
For securities exchanged for securities previously
submitted, a flat fee of $10 per security shall be charged in addition
to the above.
Pursuant to Subsection a of § 165.00
of the Local Finance Law, the proceeds, inclusive of premiums, of
any capital notes of the City, if issued in amounts of $100,000 or
less, and of any budget notes hereafter authorized need not be deposited
in a special account but may be deposited and commingled by the Director
of Finance with other funds of the City in any account of the City
in any bank or trust company in which he is authorized to deposit
funds of the City. Such power shall not be construed as authorizing
the use of any such proceeds for an object or purpose other than that
for which the obligations were issued.
