Assembly Bill A7442

Signed By Governor
2011-2012 Legislative Session

Authorizes the city of Newburgh to issue deficit bonds and notes until December 31, 2012 pursuant to the city of Newburgh fiscal recovery act

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Archive: Last Bill Status Via S4938 - 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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Bill Amendments

2011-A7442 - Details

Law Section:
Newburgh, City of
Laws Affected:
Amd §5, Chap 223 of 2010

2011-A7442 - Summary

Authorizes the city of Newburgh to issue deficit bonds and notes until December 31, 2012 pursuant to the city of Newburgh fiscal recovery act.

2011-A7442 - Bill Text download pdf 

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

                                  7442

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               May 4, 2011
                               ___________

Introduced by M. of A. KIRWAN -- read once and referred to the Committee
  on Cities

AN ACT to amend the city of Newburgh fiscal recovery act, in relation to
  extending  the  final authorized date of issuance of deficit bonds and
  notes by such city

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

  Section  1. Section 5 of chapter 223 of the laws of 2010, constituting
the city of Newburgh fiscal recovery act, is amended to read as follows:
  S 5. Deficit bond and deficit note issuance authorization. The city is
hereby authorized to issue bonds, subject to the provisions of this act,
on or before [December 31, 2011] AUGUST 30, 2015, in an aggregate  prin-
cipal amount not to exceed fifteen million dollars ($15,000,000) (exclu-
sive  of  the costs and expenses incidental to the issuance of the bonds
authorized to be issued by this section)  for  the  specific  object  or
purpose  of liquidating actual deficits in its general fund, the special
revenue fund, and the capital projects fund existing at the close of its
2010 fiscal year. In anticipation of the issuance of such bonds, deficit
notes are hereby authorized to be issued.
  S 2. This act shall take effect immediately, provided that the  amend-
ments  to  the city of Newburgh fiscal recovery act, made by section one
of this act, shall not affect the expiration and repeal of such act, and
shall expire and be deemed repealed therewith.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11048-01-1

2011-A7442A (ACTIVE) - Details

Law Section:
Newburgh, City of
Laws Affected:
Amd §5, Chap 223 of 2010

2011-A7442A (ACTIVE) - Summary

Authorizes the city of Newburgh to issue deficit bonds and notes until December 31, 2012 pursuant to the city of Newburgh fiscal recovery act.

2011-A7442A (ACTIVE) - Bill Text download pdf 

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

                                 7442--A

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               May 4, 2011
                               ___________

Introduced by M. of A. KIRWAN -- read once and referred to the Committee
  on  Cities -- committee discharged, bill amended, ordered reprinted as
  amended and recommitted to said committee

AN ACT to amend the city of Newburgh fiscal recovery act, in relation to
  extending the final authorized date of issuance of deficit  bonds  and
  notes by such city

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

  Section 1. Section 5 of chapter 223 of the laws of 2010,  constituting
the city of Newburgh fiscal recovery act, is amended to read as follows:
  S 5. Deficit bond and deficit note issuance authorization. The city is
hereby authorized to issue bonds, subject to the provisions of this act,
on  or  before December 31, [2011]2012, in an aggregate principal amount
not to exceed fifteen million dollars ($15,000,000)  (exclusive  of  the
costs and expenses incidental to the issuance of the bonds authorized to
be  issued by this section) for the specific object or purpose of liqui-
dating actual deficits in its general fund, the  special  revenue  fund,
and  the  capital projects fund existing at the close of its 2010 fiscal
year. In anticipation of the issuance of such bonds, deficit  notes  are
hereby authorized to be issued.
  S  2. This act shall take effect immediately, provided that the amend-
ments to the city of Newburgh fiscal recovery act, made by  section  one
of this act, shall not affect the expiration and repeal of such act, and
shall expire and be deemed repealed therewith.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11048-03-1

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