[HISTORY: Adopted by the Common Council of the City of Cohoes 12-14-1993 by Ord. No. 60-1993. Amendments noted where applicable.]
Purchasing — See Ch. 67.
The power to authorize, from time to time and from year to year, the issuance of and to sell revenue anticipation notes of the City of Cohoes, Albany County, New York, including renewals thereof, in anticipation of the collection of county sales taxes due and payable during the fiscal year of said city in which such notes shall be issued is hereby delegated to the City Comptroller of said city, the Chief Fiscal Officer. Such notes shall be of such terms, form and contents as may be determined by said City Comptroller pursuant to the Local Finance Law.
The principal amount of the revenue anticipation notes with respect to which the delegations of power are made herein shall not be in excess of the limitation prescribed by Subdivision d1 of § 25.00 of the Local Finance Law.
The delegations of power herein made shall continue in full force and effect from year to year until such time as the Common Council of the City of Cohoes, New York, shall elect to revoke the same pursuant to an ordinance duly adopted by it.