senate Bill S4450B

Signed by Governor

Authorizes the town of Stockport to transfer reserve funds to the Water Fund for repayment of a loan from the Town Sewer No. 1 Fund

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Sponsor

Bill Status


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

  • 01 / Apr / 2013
    • REFERRED TO LOCAL GOVERNMENT
  • 23 / Apr / 2013
    • AMEND AND RECOMMIT TO LOCAL GOVERNMENT
  • 23 / Apr / 2013
    • PRINT NUMBER 4450A
  • 07 / May / 2013
    • 1ST REPORT CAL.588
  • 08 / May / 2013
    • 2ND REPORT CAL.
  • 20 / May / 2013
    • ADVANCED TO THIRD READING
  • 17 / Jun / 2013
    • AMENDED ON THIRD READING (T) 4450B
  • 20 / Jun / 2013
    • HOME RULE REQUEST
  • 20 / Jun / 2013
    • PASSED SENATE
  • 20 / Jun / 2013
    • DELIVERED TO ASSEMBLY
  • 20 / Jun / 2013
    • REFERRED TO WAYS AND MEANS
  • 21 / Jun / 2013
    • SUBSTITUTED FOR A6500B
  • 21 / Jun / 2013
    • ORDERED TO THIRD READING RULES CAL.634
  • 21 / Jun / 2013
    • HOME RULE REQUEST
  • 21 / Jun / 2013
    • PASSED ASSEMBLY
  • 21 / Jun / 2013
    • RETURNED TO SENATE
  • 19 / Jul / 2013
    • DELIVERED TO GOVERNOR
  • 31 / Jul / 2013
    • SIGNED CHAP.264

Summary

Authorizes the town of Stockport to transfer reserve funds to the Water Fund for repayment of a loan from the Town Sewer No. 1 Fund.

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Bill Details

See Assembly Version of this Bill:
A6500B
Versions:
S4450
S4450A
S4450B
Legislative Cycle:
2013-2014
Law Section:
General Municipal

Sponsor Memo

BILL NUMBER:S4450B

TITLE OF BILL: An act authorizing the town of Stockport to transfer
reserve funds to the Water Fund for repayment of an inter-fund advance
from the Town Sewer
1 Fund

PURPOSE OR GENERAL IDEA OF BILL: To authorize the Town of Stockport to
transfer capital reserve funds to the Water Fund for repayment of an
inter-fund advance.

SUMMARY OF SPECIFIC PROVISIONS: The bill, notwithstanding Section 6-c
of the General Municipal Law or any other provision to the contrary,
authorizes the governing board of the Town of Stockport to transfer
$100,000 from the Town's Capital Reserve Fund to the Water Fund for
repayment of an inter-fund advance.

JUSTIFICATION: As of December 31, 2012, the Town of Stockport's Water
fund faced an unreserved cash shortage of nearly $100,000.
Consequently, water rates were adjusted dramatically in the 2013
budget and are anticipated to increase a typical user's annual water
bill from $58.56 annually to $241.92 annually.

If this special legislation is granted, thereby allowing the Town to
transfer $100,000 for its Capital Reserve Fund to the Water Fund, the
Town estimates that the user charges could be stabilized at a lower
rate sparing users as much as $80 per quarter, thus providing some
relief to struggling home owners and businesses.

PRIOR LEGISLATIVE HISTORY: New bill.

FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS: None to the
State.

EFFECTIVE DATE: This act would take effect immediately.

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

                                 4450--B
    Cal. No. 588

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              April 1, 2013
                               ___________

Introduced by Sen. MARCHIONE -- read twice and ordered printed, and when
  printed  to  be  committed  to  the  Committee  on Local Government --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted  to said committee -- reported favorably from said commit-
  tee, ordered to first and second report, ordered to a  third  reading,
  amended  and  ordered  reprinted,  retaining its place in the order of
  third reading

AN ACT authorizing the town of Stockport to transfer  reserve  funds  to
  the  Water  Fund  for repayment of an inter-fund advance from the Town
  Sewer #1 Fund

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

  Section  1.  The  town  of  Stockport  was  unable  to  pay  its water
district's 2012 obligations, needed a $100,000 inter-fund  advance  from
the  Town  Sewer #1 Fund to pay such obligations, and is unable to repay
such inter-fund advance by the close of the fiscal  year  in  which  the
advance  was made as is required by section 9-a of the general municipal
law, without a significant  rate  increase,  therefore,  notwithstanding
section  6-c  of the general municipal law or any other provision to the
contrary, the governing board of the town of Stockport may authorize  by
resolution  the  transfer  of  $100,000  from  the  Capital Reserve Fund
created for the purpose of financing the acquisition and/or construction
of a municipal complex pursuant to section 6-c of the general  municipal
law  to the Water Fund for repayment of such inter-fund advance from the
Town Sewer #1 Fund provided that such transfer does not  result  in  the
effect  that  properties  that  are  not  included  in  the town's water
district contribute proportionally more for any project funded  by  such
capital  reserve  fund  than  the  properties  included  in  such  water
district. The resolution authorized pursuant to this section  shall  not
be subject to referendum.
  S 2. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09773-07-3

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