New York Consolidated Laws, Local Finance Law - LFN § 20.00 Types of obligations which may be issued

a. Bonds, notes or other evidences of indebtedness authorized to be issued by municipalities, school districts or district corporations for any object or purpose shall hereafter be of the following nature and kind only and shall be denominated respectively as follows:

b. Nothing contained in this section shall be construed to prevent the prepayment of taxes to a municipality, school district or district corporation and the furnishing of a non-negotiable receipt of such prepayment whether or not interest is to be paid on the moneys so prepaid.

c. Nothing contained in this chapter shall prevent a municipality from issuing evidences of indebtedness to the state of New York or to the United States of America with respect to a project or projects undertaken by such municipality pursuant to any general law to effectuate any of the purposes of article eighteen of the state constitution.

d. Nothing contained in this section shall be construed to prevent a municipality from issuing evidence of indebtedness or entering into installment contracts to purchase equipment, machinery and apparatus pursuant to section one hundred nine-b of the general municipal law.