§ 135.00 Statement of total debt; inclusions in ascertaining gross
indebtedness. a. The debt statement of a municipality, school district
in a city or fire district setting forth its total net indebtedness
shall contain the following items of indebtedness for the purpose of
showing the gross indebtedness of such municipality, school district or
fire district:

1. Borrowings. The amount of outstanding obligations (including in the
case of a county, city, town, village, school district or fire district
which has sold obligations at a discount, only the original amount of
money actually received by such county, city, town, village, school
district or fire district, irrespective of the face amount of the
obligations at maturity) or other evidences of indebtedness representing
money borrowed by such municipality, school district or fire district
and remaining unpaid.

2. Real property liabilities. The amount of outstanding indebtedness
on account of the acquisition of real property, the title to which has
vested in such municipality, school district or fire district, or the
title to which it has agreed to accept pursuant to the terms of a
contract therefor, and for which payment has not been made. The amount
of such indebtedness shall be ascertained pursuant to section 142.00 of
this chapter.

3. Contract liabilities. The amount of outstanding indebtedness
arising from:

(a) The amounts payable upon contracts, other than for capital
improvements or equipment, to the extent that the sums due or to become
due for the portion of such contracts which is performed or is to be
performed during a fiscal year shall not have been paid or provided for
by a budgetary appropriation therefor for such fiscal year or in the tax
levy for such fiscal year.

(b) The amounts which are to become due pursuant to contracts for
capital improvements or equipment.

4. Contract liabilities: housing guarantees; subsidies. In the case of
a city, town or village, the amount of outstanding indebtedness of such
city, town or village

(a) On account of any contract for capital or periodic subsidies to a
housing authority to be paid subsequent to the then current year.

(b) Arising from a guarantee of the principal of and interest on, or
only the interest on indebtedness contracted by a housing authority.

The amount of such indebtedness shall be ascertained pursuant to
section 143.00 of this chapter.

4-a. Contract liabilities, guarantees of certain hospital
indebtedness. In the case of a municipality, the amount of the
outstanding indebtedness of the municipality arising from a guarantee
authorized by law pursuant to section seven of article seventeen of the
state constitution of the principal of and the interest on, or only the
interest on indebtedness contracted by an eligible corporation or
association for the purpose of providing hospital or other facilities
for the prevention, diagnosis or treatment of human disease, pain,
injury, disability, deformity or physical condition, and for facilities
incidental or appurtenant thereto. The amount of such indebtedness shall
be ascertained pursuant to section 143.10 of this chapter.

5. State loans to certain housing authorities and municipalities. In
the case of a city, town or village, the amount of unpaid balances of
loans by the state to (a) housing authorities acting as
instrumentalities of such city, town or village, or (b) municipalities
for urban renewal purposes.

6. Judgments, claims, awards and determinations. The amount of
outstanding indebtedness represented by (a) judgments which have been
docketed and claims which have been settled or compromised, and (b)
awards and sums payable by such municipality, school district or fire
district pursuant to a determination by a court, or an officer, body or
agency, acting in an administrative or quasi-judicial capacity, to the
extent to which such judgments, claims, awards and sums remain unpaid.

7. Indebtedness contracted by district corporations. In the case of a
city or village in which there is situated a district corporation, as
defined in paragraph a of section 102.00 of this chapter, or of a town
in the unincorporated area of which there is situated a district
corporation, as defined in paragraph a of section 102.00 of this
chapter, the amount of outstanding net indebtedness of such district
corporation which is allocated to such city, village or town pursuant to
section 120.00 of this chapter.

8. Pay-as-you-go financing. In the case of the city of New York the
amount deemed to be outstanding indebtedness pursuant to section 122.00
of this chapter.

b. There shall be included as the indebtedness of a city school
district the amount of outstanding city indebtedness for education
purposes allocated to such school district by the state comptroller.

c. There shall be included as the indebtedness of a school district in
a city the outstanding indebtedness or an appropriate proportion
thereof, as the case may be, of merged or annexed school districts as
provided in section 121.00 of this chapter.