DiNapoli: Troy's Proposed Bond Financing for Its Lead Pipe Replacement Program Is Lawful and Constitutional
In response to a request from the Troy City Council, New York State Comptroller Thomas P. DiNapoli today issued an advisory opinion finding that the city could lawfully issue bonds in connection with financing the city seeks from the State Environmental Facilities Corporation (EFC) under a federal program to help fund its replacement of public and private lead water service lines without running afoul of the State Constitution’s prohibition on using public funds for private purposes.