New York Consolidated Laws, Town Law - TWN § 194-a. Powers of town boards with respect to certain contracts

Upon the adoption of a resolution, the town board of any town may enter into such contracts, as it may deem necessary, with any person, corporation or association for the purpose of ensuring that the cost of any improvement district will not constitute an undue burden upon the property within such district and may require the filing of a surety bond or bonds or the deposit of cash or securities with the town board to ensure the performance of such contracts.