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Assembly Bill A4019

2009-2010 Legislative Session

Authorizes the city school district of Mount Vernon to expend the proceeds of bonds or notes for projects set forth in bond resolutions

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Archive: Last Bill Status - In Assembly Committee

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2009-A4019 (ACTIVE) - Details

Current Committee:
Assembly Cities
Law Section:
Bonds and Notes
Versions Introduced in Other Legislative Sessions:
2011-2012: A2695
2013-2014: A3935

2009-A4019 (ACTIVE) - Summary

Authorizes the city school district of the city of Mount Vernon, New York to expend the proceeds of bonds or notes issued pursuant to the bond resolutions for the projects set forth in the bond resolutions.

2009-A4019 (ACTIVE) - Bill Text download pdf 

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

                                  4019

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 29, 2009
                               ___________

Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
  tee on Cities

AN ACT to authorize the city  school  district  of  the  city  of  Mount
  Vernon,  New  York  to  expend  the  proceeds of bonds or notes issued
  pursuant to the bond resolutions for the projects  set  forth  in  the
  bond resolutions

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

  Section 1. Definitions. For the purposes of this act, "district" shall
mean the city school district of the city of Mount  Vernon,  Westchester
county, New York.
  S  2. The bond resolution adopted by the district on February 9, 2000,
is hereby validated, ratified and confirmed  notwithstanding  that  such
bond resolution authorized the issuance of obligations for more than one
object  or  purpose  in  violation of section 31.00 of the local finance
law.
  S 3. The past and future expenditure of the  proceeds  of  obligations
issued pursuant to the bond resolution adopted by the district on Febru-
ary 9, 2000, is hereby validated, ratified and confirmed notwithstanding
that  a  portion  of  such  obligations  was issued for a certain stated
object or purpose, as referred to  in  such  bond  resolution,  and  the
proceeds  from  such  portion  were  or will be expended for a different
object or purpose referred to within such bond resolution  in  violation
of section 165.00 of the local finance law.
  S  4.  The bond resolutions adopted by the district on April 20, 2005,
and on April 26, 2006, are  hereby  validated,  ratified  and  confirmed
notwithstanding  that  such  bond resolutions authorized the issuance of
obligations for an object or purpose having a period of probable useful-
ness that does not apply to the district. Such bond resolutions shall be
deemed to have authorized the issuance of obligations for  a  period  of
probable  usefulness  of 30 years as provided by subdivision 97 of para-
graph a of section 11.00 of the local finance law.
  S 5. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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