Section 9-b - Limitations on short-term borrowing1.The limitations on short-term borrowing imposed upon the city by this section shall be in addition to the limitations on short-term borrowing imposed on the city under the local finance law. In the event any provisions of the local finance law shall be inconsistent with the provisions of this section, the provisions of this section shall prevail. For the purposes of this section the terms "bond anticipation notes", "tax anticipation notes", "revenue anticipation notes" and "budget notes" shall not mean one or more of or any of the respective notes held by the municipal assistance corporation for the city of New York on June thirtieth, nineteen hundred seventy-eight or any note of the city held by such corporation issued in exchange for or in refunding or renewal of any such note.2.a.No tax anticipation notes shall be issued by the city in anticipation of the collection of taxes or assessments levied for a fiscal year which would cause the principal amount of such issue of tax anticipation notes to exceed an amount equal to ninety per cent of the available tax levy with respect to such issue.b.Tax anticipation notes and renewals thereof shall mature not later than the last day of the fiscal year in which they were issued.3.a.No revenue anticipation note shall be issued by the city in anticipation of the collection or receipt of revenue in a fiscal year which would cause the principal amount of revenue anticipation notes outstanding to exceed ninety per cent of the available revenues for such fiscal year. For purposes of this subdivision, available revenues shall be the revenues other than real estate taxes and assessments which have been estimated in the financial plan to be realized in cash during such year, less revenues previously collected, other than revenues on deposit in the RAN debt service account or any special fund established pursuant to law for the payment of interest and/or principal of revenue anticipation notes.b.Each issue of revenue anticipation notes shall be issued only in anticipation of the receipt of a specific type or types of revenue and the amount of revenue, the source of revenue and the anticipated date of payment shall be stated in the proceedings authorizing the issuance of such notes.c.Revenue anticipation notes shall mature not later than the last day of the fiscal year in which they were issued, and may not be renewed or extended to a date more than ten days after the anticipated date of receipt of such revenue. No such renewal note shall mature after the last day of such fiscal year unless the board shall certify that the revenue against which such renewal note is issued has been properly accrued and estimated in the financial plan in effect on the date of issuance of such renewal note; provided that in no event shall any such renewal notes mature later than one year subsequent to the last day of the fiscal year during which such revenue anticipation notes were originally issued.4.a.No bond anticipation note shall be issued by the city in any fiscal year which would cause the principal amount of bond anticipation notes outstanding, together with interest due or to become due thereon, to exceed fifty per cent of the principal amount of bonds issued by the city in the twelve months immediately preceding the month in which the note is to be issued.b.The proceeds of each bond issue shall be (i) held in trust for the payment, at maturity, of the principal of and interest on any bond anticipation notes of the city issued in anticipation of such bonds and outstanding at the time of the issuance of such bonds, (ii) paid into the general fund of the city in repayment of any advance made from such fund pursuant to section 165.10 of the local finance law, and (iii) any balance shall be expended for the object or purpose for which such bonds were issued.c.Bond anticipation notes shall mature not later than one year after their date of issuance and may be renewed for a period not to exceed two years, or such longer period as may be permitted for bond anticipation notes of the state, from the date of original issue.5.Budget notes issued pursuant to section 29.00 of the local finance law may only be issued to fund projected expense budget deficits. No budget notes or renewals thereof, shall mature later than sixty days prior to the last day of the fiscal year next succeeding the fiscal year during which such budget notes were originally issued.6.The city shall issue no obligations which shall be inconsistent with the financial plan or with the limitations set forth in subdivisions one through five of this section.N.Y. NYS Financial Emergency Act for the city of NY Law § 9-b