The city council having determined, pursuant to subdivision b of section 25-410 of chapter four of this title, that it is in the public interest to authorize an increase in the amount to be expended annually in the Jamaica Center mall special assessment district beginning on July 1, 2016, and the council having determined further that the tax and debt limits prescribed in section 25-412 of chapter four of this title will not be exceeded by such increased expenditure, there is hereby authorized in such district an annual expenditure of one million seventeen thousand five hundred dollars ($1,017,500), of which eight hundred twenty-one thousand six hundred thirty-one dollars ($821,631) may be expended in subdistrict 1 of such district, and one hundred ninety-five thousand eight hundred sixty-nine dollars ($195,869) may be expended in subdistrict 2 of such district.
Terms Used In N.Y. New York City Administrative Code 25-604
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
b. The amount of such expenditure to be levied upon each property in subdistrict 1 and subdistrict 2 of such district shall be determined in accordance with the method of assessment set forth in the Jamaica Center mall special assessment act, as amended, provided that any property referred to in paragraph b of subdivision 2 of section 5 of such act for which an adjusted levy was made in fiscal year 1991, may have its levy adjusted in subsequent fiscal years using the same method of assessment for such adjustment as was used in fiscal year 1991. If such adjustments are made the levy for the remaining properties in the subdistricts may be adjusted accordingly.