§ 121.30 Exclusion of certain indebtedness of school districts other
than school districts in a city. In ascertaining the power of a school
district, other than a school district in a city, to contract
indebtedness under section 104.00 of this chapter, there may be excluded
outstanding bonds and bond anticipation notes or indebtedness proposed
to be contracted and to be evidenced by bonds or bond anticipation notes
to finance the acquisition, construction and installation of a shelter
or fallout shelter by such school district pursuant to section
twenty-three-a of the New York state defense emergency act, but only to
the extent to which such indebtedness, at the time it was contracted or
is to be contracted, did not or will not exceed fifty dollars multiplied
by the planned shelter occupancy of such shelter.