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BUGEJA v. CITY OF NEW YORK

24 A.D.2d 151 (1965)

Charles Bugeja, Appellant, v. City of New York et al., Respondents

Appellate Division of the Supreme Court of the State of New York, Second Department.

December 9, 1965.

Attorney(s) appearing for the Case

Rubinton, Coleman & Ostrow (Theodore D. Ostrow and Nathan Cooper of counsel), for appellant.

Leo A. Larkin, Corporation Counsel (Pauline K. Berger of counsel), for respondents.

UGHETTA and RABIN, JJ., concur with HOPKINS, J.; BELDOCK, P. J., and BENJAMIN, J., dissent in separate opinion.

HOPKINS, J.

Chapter 440 of Laws of 1965 empowers the Mayor of the City of New York to authorize the issuance of serial bonds in the maximum principal amount of $255,800,000 in order to provide for the city's payment of its pension or retirement liabilities during fiscal year 1965. Chapter 440 declares that "The maximum period of probable usefulness of the objects or purposes of such bonds shall be five years...

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