§ 99-d. Planning for future capital improvements. 1. Notwithstanding
the provisions of any general, special or local law, the governing board
or other appropriate authority of a municipal corporation, school
district or district corporation may authorize the preparation of
surveys, preliminary plans and detailed plans, specifications and
estimates necessary for planning for a capital improvement which it is
contemplated might be undertaken in the future and may provide for the
manner in which the cost thereof shall be financed, subject, however, to
the applicable provisions of any general, special or local law
respecting the issuance of bonds or notes.

2. The total amount of bonds or capital notes which may be authorized
in any fiscal year of the municipal corporation, school district or
district corporation to finance such advance planning pursuant to this
section shall not exceed the maximum amount of budget notes which it may
issue in such year pursuant to subdivision two or subdivision three of
paragraph a of section 29.00 of the local finance law, as the case may
be, provided, however, that for the purposes of this subdivision,
amounts which are to be paid in the first instance from improvement
district assessments shall be included in computing "the amount of the
annual budget" of a town or a county in accordance with section 29.00 of
such law.

3. If the advance planning is undertaken for the purpose of an
existing or proposed county or town improvement district, or any
extension thereof, the existing district, or the proposed district when
created, or the extension thereof, shall reimburse the county or town
for the cost of such advance planning, including any interest on any
obligations issued to finance such cost. The amount so reimbursed shall
be applied first to the payment of any outstanding obligations issued to
finance such expenditure.