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NYC Administrative Code

§ 24-353 — Obligations for capital projects; proceeds for operating expenses.

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What is NYC AC § 24-353?

Quick Answer

This section establishes that expenditures made by the commissioner of environmental protection for capital projects related to water supply or distribution systems are not classified as operating expenses. These expenditures can be financed similarly to the acquisition or construction of such systems. Applies to entities involved in water supply and distribution projects.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 24-353 Obligations for capital projects; proceeds for operating expenses.

AC § 24-353

Expenditures made or incurred by the commissioner of environmental protection shall not be considered operating expenses but shall be deemed to be part of the acquisition, construction or addition to a water supply or distribution system and may be financed in the same manner as the acquisition, construction or addition to a water supply or distribution system.

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