Section 10-a - Prohibition; penalties(a) During any emergency period (i) no officer or employee of the city of Troy or of any of the covered organizations shall make or authorize an obligation or other liability in excess of the amount available therefor under the financial plan as then in effect; (ii) no officer or employee of the city of Troy or of any of the covered organizations shall involve the city of Troy or any of the covered organizations in any contract or other obligation or liability for the payment of money for any purpose required to be approved by the supervisory board unless such contract has been so approved and unless such contract or obligation or liability is in compliance with the financial plan as then in effect.(b) No officer or employee of the city of Troy or any of the covered organizations shall take any action in violation of any valid order of the supervisory board or shall fail or refuse to take any action required by any such order or shall prepare, present or certify any information (including any projections or estimates) or report for the supervisory board or any of its agents that is false or misleading, or, upon learning that any such information is false or misleading, shall fail promptly to advise the supervisory board or its agents thereof.(c) In addition to any penalty or liability under any other law, any officer or employees of the city of Troy or any of the covered organizations who shall violate subdivision (a) or (b) of this section shall be subject to appropriate administrative discipline, including, when circumstances warrant, suspension from duty without pay or removal from office by order of either the governor or the chief executive officer; and any officer or employee of the city of Troy or any of the covered organizations who shall knowingly and willfully violate subdivision (a) or (b) of this section shall, upon conviction, be guilty of a misdemeanor.(d) In the case of a violation of subdivision (a) or (b) of this section by an officer or employee of the city of Troy or any of the covered organizations, the chief executive officer or the chief executive officer of such covered organization shall immediately report to the supervisory board all pertinent facts together with a statement of the action taken thereon.N.Y. City of Troy Issuance of Serial Bonds Law § 10-a