a. The state comptroller, in the performance of his duties pursuant to section 141.00 of this chapter, shall cause debt statements of municipal corporations and municipalities to be prepared in such manner as will reflect (1) the gross amounts of any several indebtedness and joint indebtedness contracted or incurred by a participating municipal corporation or municipality in relation to a joint service or joint water, sewage or drainage project, (2) the amounts of any such several indebtedness, and the amounts of any such joint indebtedness allocated and apportioned to any participating municipal corporation or municipality, which are to be included as gross indebtedness in a debt statement prepared in accordance with the provisions of title ten of article two of this chapter, and (3) the amounts of any such several indebtedness or joint indebtedness which under or pursuant to any provision of this chapter may be excluded in ascertaining the debt-contracting margin of the participating municipal corporation or municipality. b. The provisions of section 109.00 and of title ten of article two of this chapter which are consistent with the provisions of title argin of the participating municipal corporation or municipality. b. The provisions of section 109.00 and of title ten of article two of this chapter which are consistent with the provisions of title one-A of such article shall be applicable in relation to the debt statements of a municipal corporation or municipality which is a participant in a joint service or joint water, sewage or drainage project.
New York Legal Code