Assembly Bill A8967

Signed By Governor
2009-2010 Legislative Session

Legalizes, validates, ratifies and confirms certain actions taken by the village of Hammond, in the county of Lawrence, with respect to a certain serial bond note

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Archive: Last Bill Status - Signed by Governor

  • 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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2009-A8967 (ACTIVE) - Details

See Senate Version of this Bill:
S5951
Law Section:
Villages

2009-A8967 (ACTIVE) - Summary

Legalizes, validates, ratifies and confirms certain actions taken by the village of Hammond, in the county of St. Lawrence, with respect to a certain serial bond note.

2009-A8967 (ACTIVE) - Sponsor Memo

2009-A8967 (ACTIVE) - Bill Text download pdf 

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

                                  8967

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                              June 17, 2009
                               ___________

Introduced  by M. of A. RUSSELL -- read once and referred to the Commit-
  tee on Local Governments

AN ACT to legalize, validate, ratify and confirm certain  actions  taken
  by the village of Hammond, in the county of St. Lawrence, with respect
  to a certain serial bond note

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

  Section 1. It is hereby found and determined that: (i) the village  of
Hammond,  county  of  St.  Lawrence,  duly  adopted on July 10, 2002, as
amended on August 6, 2003 and August 7, 2004, a bond resolution  author-
izing  issuance of a maximum of $800,000 of serial bonds in anticipation
of financing the costs of a capital improvement project for  improvement
of facilities of the village wastewater collection and treatment system;
(ii)  pursuant  to  such bond resolution, said village on March 30, 2006
issued a serial bond note to the United States Department of Agriculture
("USDA"); (iii) in the years of 2006, 2007 and 2009, principal  payments
on  the  bond were not made in a timely fashion; (iv) such payments were
in violation of subdivision b of section 21.00 of the local finance  law
in  that the payments should have been made in annual installments; said
village now wishes to obtain permanent financing from the  Environmental
Facilities Corporation to refund the subject note.
  S 2. Notwithstanding the defects described in section one of this act,
the USDA note is hereby validated and ratified.
  S  3.  Except as otherwise provided in this act, the bond notes issued
under authority of the bond resolutions described in section one of this
act shall be issued in accordance  with  the  provisions  of  the  local
finance law.
  S  4.  If any clause, sentence, subdivision, paragraph or part of this
act be adjudged by any court of competent jurisdiction  to  be  invalid,
such judgment shall not affect, impair or invalidate the remainder ther-
eof,  but  shall  be  confined in its operation to the clause, sentence,
subdivision, paragraph, section or part thereof directly involved in the
controversy in which such judgment shall have been rendered.
  S 5. This act shall take effect immediately.

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