N.Y. General Municipal Law 362 – Financing the cost of public utility service
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§ 362. Financing the cost of public utility service. Any municipal corporation may finance the cost of such public utility service in whole or in part by levying taxes in the same manner as taxes are levied pursuant to law for any permanent improvement by such municipal corporation, or the same may be financed in whole or in part pursuant to the local finance law.
Terms Used In N.Y. General Municipal Law 362
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Public utility service: as used in this Article of the public service law and shall include works, structures, poles, lines, wires, conduits, mains, systems, waterpower and any and all other real and personal property used or necessary for, connected with or appertaining to the furnishing of such service. See N.Y. General Municipal Law 360