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NYC Administrative Code

§ 25-413 — Expenditure of district funds.

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What is NYC AC § 25-413?

Quick Answer

This section outlines the management and expenditure of funds collected under the district plan, specifying that proceeds must be accounted for by the comptroller and used solely for district purposes. It also mandates that contracts for services or improvements in the district comply with city contract laws. Applies to city officials managing district funds.

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

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§ 25-413 Expenditure of district funds.

AC § 25-413

(a)The proceeds of any charge imposed pursuant to this chapter shall be held by the comptroller and shall be separately accounted for in the books and records of the city. None of the proceeds collected pursuant to this chapter shall be used for any purposes other than those set forth in the district plan. These funds may be paid out for district purposes in accordance with the general procedures for payment of other city expenditures.

(b)All contracts for improvements, goods or services to be provided in the district shall be subject to all applicable provisions of the law relating to the letting of contracts by the city.

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