New York Codes, Rules and Regulations
Title 2 - DEPARTMENT OF AUDIT AND CONTROL
Chapter II - Municipal Affairs
Subchapter A - Sales Of Bonds And Notes; Debt Statements
Part 39 - Installment Purchase Contracts By Political Subdivisions
Section 39.3 - Adoption of resolution authorizing an installment purchase contract

Any resolution authorizing a political subdivision to utilize an installment purchase contract to finance capital improvements shall refer to the evaluation of financing alternatives and, after taking into account such evaluation, set forth the specific reasons why the governing board has determined that it is in the best interests of the political subdivision to finance the capital improvements pursuant to an installment purchase contract. The evaluation of financing alternatives shall be maintained by the political subdivision as a public record and be filed with the resolution to which it pertains.