Assembly Bill A8995

2011-2012 Legislative Session

Relates to contents of notice of meeting or election where special tax or tax to be collected in installments is to be voted

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2011-A8995 (ACTIVE) - Details

See Senate Version of this Bill:
S5204
Current Committee:
Assembly Local Governments
Law Section:
Local Finance Law
Laws Affected:
Amd §41.10, Loc Fin L
Versions Introduced in Other Legislative Sessions:
2013-2014: A5658, S3861
2015-2016: A3837, S4162
2017-2018: S2575

2011-A8995 (ACTIVE) - Summary

Relates to contents of notice of meeting or election where special tax or tax to be collected in installments is to be voted on.

2011-A8995 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  8995

                          I N  A S S E M B L Y

                            January 12, 2012
                               ___________

Introduced by M. of A. JOHNS, CERETTO, BURLING, McDONOUGH -- Multi-Spon-
  sored by -- M. of A.  CALHOUN, TENNEY -- read once and referred to the
  Committee on Local Governments

AN ACT to amend the local finance law, in relation to contents of notice
  of  meeting  or  election  where special tax or tax to be collected in
  installments is to be voted on

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 41.10 of the local finance law, as added by chapter
582 of the laws of 1951, is amended to read as follows:
  S 41.10 Contents of notice of meeting or election where special tax or
tax to be collected in installments is to be voted.  Where the voting of
a  special  tax  or a tax to be collected in installments is a condition
precedent to the adoption of a bond resolution or  capital  note  resol-
ution  and  the  bonds  or  capital  notes are to be issued to finance a
specific object or purpose, the notice of the meeting or the election at
which such tax is voted must state the estimated maximum  cost  of  each
item  of such specific object or purpose and the estimated total cost of
all of the items, WHERE THE ESTIMATED TOTAL COST OF  ALL  OF  THE  ITEMS
INCLUDES,  AND LISTS, THE ESTIMATED TOTAL INTEREST COSTS ASSOCIATED WITH
THE BOND RESOLUTION OR CAPITAL NOTE RESOLUTION; PROVIDED, HOWEVER,  WITH
REGARD  TO  SCHOOL  DISTRICTS, THE COST OF PROVIDING SUCH TOTAL INTEREST
COSTS SHALL BE MINIMIZED TO THE GREATEST EXTENT PRACTICABLE.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11180-03-2


              

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