a. If in any city or village, prior to the effective date of this chapter, a water board, public utility board or other agency, (other than the council, common council, board of aldermen, board of estimate, board of estimate and apportionment, board of estimate and contract, board of trustees of a village, board of education or board of trustees of a school district, or governing board of a public authority or district) had the power to authorize the issuance of obligations or to request the finance board or similar appropriate agency of the city or village to issue obligations for an object or purpose, the finance board of such city or village may thereafter authorize the issuance of obligations for such an object or purpose only upon the recommendation of such agency.
New York Legal Code