Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 30, 2009 |
signed chap.78 |
Jun 26, 2009 |
delivered to governor |
Jun 16, 2009 |
returned to senate |
Jun 11, 2009 |
passed assembly home rule request ordered to third reading rules cal.194 substituted for a6296 |
Jun 03, 2009 |
referred to cities delivered to assembly passed senate home rule request |
May 19, 2009 |
advanced to third reading |
May 18, 2009 |
2nd report cal. |
May 13, 2009 |
1st report cal.339 |
Apr 27, 2009 |
referred to local government |
Senate Bill S4916
Signed By Governor2009-2010 Legislative Session
Sponsored By
(D) Senate District
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
Actions
Votes
2009-S4916 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A6296
- Law Section:
- Local Finance Law
- Laws Affected:
- Amd §54.30, Loc Fin L
2009-S4916 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4916 TITLE OF BILL : An act to amend the local finance law, in relation to the sale of bonds and notes of the city of Buffalo PURPOSE OF THE BILL : This bill extends authorization for the private sale of bonds and notes of the City of Buffalo. SUMMARY OF SPECIFIC PROVISIONS : § 1- Amends § 54.30 of the Local Finance Law to extend the provisions of this section from June 30, 2008 to June 30, 2009. This is simply a one year extender of existing law to allow the City of Buffalo to sell its bonds at private sale. § 2- Effective date. JUSTIFICATION : The present law, which expires on June 30, 2009, has given the City of Buffalo a valuable tool to provide expeditious funds for projects which require immediate attention. Since this law has already proven its usefulness, an extension of one year would provide the City with enough financial flexibility to encounter any further needs in that time frame. This bill incorporates, by reference, the newly created
2009-S4916 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4916 2009-2010 Regular Sessions I N S E N A T E April 27, 2009 ___________ Introduced by Sen. THOMPSON -- 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 the sale of bonds and notes of the city of Buffalo THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 54.30 of the local finance law, as amended by chap- ter 116 of the laws of 2008, is amended to read as follows: S 54.30 Costs of sales; bonds and notes of the city of Buffalo. Subject to the provisions of chapter one hundred twenty-two of the laws of two thousand three creating the Buffalo fiscal stability authority, to facilitate the marketing of any issue of serial bonds or notes of the city of Buffalo issued on or before June thirtieth, two thousand [nine] TEN, 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 underwrit- ing of its bonds or notes at private sale through negotiated agreement, compensation 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 nego- tiated agreement, compensation for such sales to be provided by negoti- ated fee, if required. The cost of such underwriting or private place- ment 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. LBD08937-02-9
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