N.Y. General Municipal Law 454 – Power to impose other charges
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§ 454. Power to impose other charges. Subject to the provisions of section eight of this chapter, the establishment and imposition of sewer rents shall not prevent the use of other revenues of the city, village or county or town sewer district for the payment of a part of the costs, for any fiscal year, of operation, maintenance and repairs of the sewer system or any part or parts thereof for which sewer rents have been established and imposed or for the payment of interest on and amortization of, or payment of, indebtedness therefor.
Terms Used In N.Y. General Municipal Law 454
- Amortization: Paying off a loan by regular installments.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.