senate Bill S6313

Signed by Governor

Relates to bonds and notes of the city of Yonkers

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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

  • 14 / Jan / 2014
    • REFERRED TO LOCAL GOVERNMENT
  • 04 / Mar / 2014
    • 1ST REPORT CAL.223
  • 05 / Mar / 2014
    • 2ND REPORT CAL.
  • 06 / Mar / 2014
    • ADVANCED TO THIRD READING
  • 12 / May / 2014
    • HOME RULE REQUEST
  • 12 / May / 2014
    • PASSED SENATE
  • 12 / May / 2014
    • DELIVERED TO ASSEMBLY
  • 12 / May / 2014
    • REFERRED TO CITIES
  • 11 / Jun / 2014
    • SUBSTITUTED FOR A8450
  • 11 / Jun / 2014
    • ORDERED TO THIRD READING RULES CAL.161
  • 11 / Jun / 2014
    • HOME RULE REQUEST
  • 11 / Jun / 2014
    • PASSED ASSEMBLY
  • 11 / Jun / 2014
    • RETURNED TO SENATE
  • 30 / Jun / 2014
    • DELIVERED TO GOVERNOR
  • 30 / Jun / 2014
    • SIGNED CHAP.70

Summary

Relates to bonds and notes of the city of Yonkers.

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Bill Details

See Assembly Version of this Bill:
A8450
Versions:
S6313
Legislative Cycle:
2013-2014
Law Section:
Local Finance Law
Laws Affected:
Amd ยง54.40, Loc Fin L
Versions Introduced in Previous Legislative Cycles:
2013-2014: S3020
2011-2012: S6460

Sponsor Memo

BILL NUMBER:S6313

TITLE OF BILL: An act to amend the local finance law, in relation to
bonds and notes of the city of Yonkers

PURPOSE: Extender law - this bill extends the marketing limitation on
serial bonds/notes of Yonkers from June 30, 2014 to June 30, 2015.

SUMMARY OF SPECIFIC PROVISIONS:

Section 1 Section 54.40 of the local finance law, as amended by
chapter 69 of the laws of 2013, is amended to read as follows: Bonds
and notes of the city of Yonkers, subject to the provisions of the New
York State Financial Emergency Act of 1984 for the city of Yonkers
issued on or before June 30, 2015.

JUSTIFICATION: Extender law - this bill extends the marketing
limitation on serial bonds/notes of Yonkers from June 30, 2014 to June
30, 2015.

LEGISLATIVE HISTORY: 2013 - S3020 - Extender Law - Chapter 69 2012 -
S6460 - Extender Law - Chapter 72

FISCAL IMPLICATIONS: None to the State.

EFFECTIVE DATE: This act shall take effect immediately.

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

                                  6313

                            I N  S E N A T E

                            January 14, 2014
                               ___________

Introduced  by  Sen.  STEWART-COUSINS -- read twice and ordered printed,
  and when printed to be committed to the Committee on Local Government

AN ACT to amend the local finance law, in relation to bonds and notes of
  the city of Yonkers

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

  Section 1. Section 54.40 of the local finance law, as amended by chap-
ter 69 of the laws of 2013, is amended to read as follows:
  S  54.40  Bonds  and  notes  of  the  city  of Yonkers. Subject to the
provisions of the New York state financial  emergency  act  of  nineteen
hundred eighty-four for the city of Yonkers, to facilitate the marketing
of  any  issue of serial bonds or notes of the city of Yonkers issued on
or before June thirtieth, two thousand  [fourteen]  FIFTEEN,  such  city
may,  notwithstanding any limitations on private sales of bonds provided
by law, and subject to approval by the state comptroller  of  the  terms
and  conditions  of  such  sale: (a) arrange for the underwriting of its
bonds or notes at private sale  through  negotiated  agreement,  compen-
sation for such underwriting to be provided by negotiated fee or by sale
of such bonds or notes to an underwriter at a price of less than the sum
of  par  value of, and the accrued interest on, such obligations; or (b)
arrange for the private sale of its bonds or  notes  through  negotiated
agreement, compensation for such sales to be provided by negotiated fee,
if required. The cost of such underwriting or private placement shall be
deemed a preliminary cost for purposes of section 11.00 of this article.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13360-01-3

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