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The Department received a petition from the Board of Education of the Peekskill City School District seeking consent of the Board of Regents to an increase in the indebtedness of the school district under the provisions of paragraph h, Section 4, of Article 8 of the State Constitution and subdivision c of Section 104.00 of the Local Finance Law.
Paragraph h requires that any increase in the constitutional limit on local indebtedness for a school district wholly or partly within a city of less than 125,000 inhabitants receive:  (1) the approving vote of 60 percent or more of the duly qualified voters; (2) the consent of the Regents; and (3) the consent of the State Comptroller.  It appears from the records of the State Education Department that the Peekskill City School District lies within the City of Peekskill.  The documentation supporting the petition verifies that more than 60 percent of duly qualified voters approved the increase at a special meeting held on April 1, 2004.  Should the Board of Regents consent, the petition with the consent of the Board will be forwarded to the State Comptroller for final consideration.
The increase in indebtedness will be used to construct a middle school and reconstruct various school buildings, including related site work, and to purchase furnishings and equipment for such buildings. Staff has reviewed the petition and supporting documentation and recommend that the requested consent be granted.