Int 0763-2005

Be it enacted by the Council as follows: Section 1. Subdivision a of section 25-444.1 of the administrative code of the city of New York, as amended by local law number 30 for the year 2002, is amended to read as follows: a. 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 14th Street-Union Square business improvement district beginning on July 1, [2002] 2005, 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 one hundred eighty-nine thousand five hundred dollars ($1,189,500)] one million four hundred thirty- nine thousand five hundred dollars ($1,439,500). §2. This local law shall take effect immediately and shall be retroactive to and deemed to have been in full force and effect as of July 1, 2005.