senate Bill S6078A

Signed By Governor
2011-2012 Legislative Session

Authorizes the town of Frankfort to finance a litigation settlement by the issuance of serial bonds and/or anticipation notes

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Archive: Last Bill Status - Signed by Governor


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

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Actions

view actions (18)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jul 18, 2012 signed chap.194
Jul 06, 2012 delivered to governor
Jun 14, 2012 returned to senate
passed assembly
home rule request
ordered to third reading rules cal.189
substituted for a8847b
Apr 25, 2012 referred to ways and means
delivered to assembly
passed senate
home rule request
Mar 26, 2012 amended on third reading 6078b
Mar 05, 2012 advanced to third reading
Mar 01, 2012 2nd report cal.
Feb 29, 2012 1st report cal.220
Jan 25, 2012 print number 6078a
amend and recommit to local government
Jan 04, 2012 referred to local government

Votes

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Feb 29, 2012 - Local Government committee Vote

S6078A
7
0
committee
7
Aye
0
Nay
0
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Local Government committee vote details

Local Government Committee Vote: Feb 29, 2012

excused (1)

Bill Amendments

Original
A
B (Active)
Original
A
B (Active)

S6078 - Bill Details

See Assembly Version of this Bill:
A8847A
Law Section:
Herkimer County

S6078 - Bill Texts

view summary

Authorizes the town of Frankfurt to finance a litigation settlement by the issuance of serial bonds and/or anticipation notes.

view sponsor memo
BILL NUMBER:S6078

TITLE OF BILL:

An act
to authorize the Town of Frankfort to finance a litigation settlement
by the issuance of serial bonds and/or anticipation notes

PURPOSE:

To allow the Town of Frankfort to bond for a period of fifteen years
in order to pay a one million four hundred fifty thousand dollars
($1,450,000) to the County of Herkimer.

SUMMARY OF PROVISIONS:

Section one - authorizes the Town of Frankfort to issue serial bonds,
subject to the provisions of section 10.10 of the Local Finance Law
on or before June 30, 2012. The aggregate principal amount shall not
exceed $1,450,000 for the specific purpose of settling amounts owed
to the County of Herkimer.

Section two - authorizes the period of probable usefulness to be
fifteen (15) years.

Section three - authorizes the Town Board of the Town of Frankfort to
levy a tax to be collected in annual installments and to adopt a bond
resolution authorizing the issuance of serial bonds pursuant to this
act.

Section four - confines any judgment of invalidity rendered by any
court to competent jurisdiction in its operation to the specific
clause of this act.

Section five - provides effective date.

JUSTIFICATION:

This bill comes at the request of the Town Board of the Town of
Frankfort. In a recent State supreme court decision, the Town of
Frankfort owes the County of Herkimer $1,450,000. for workers
compensation costs. The
Town does not have sufficient funds to satisfy the judgment and needs
special authorization to issue serial bonds in order to settle the
pending litigation.

LEGISLATIVE HISTORY:

New bill.

FISCAL IMPLICATIONS:

None to the state.

EFFECTIVE DATE:


This act shall take effect immediately.

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

    S. 6078                                                  A. 8847

                      S E N A T E - A S S E M B L Y

                               (PREFILED)

                             January 4, 2012
                               ___________

IN  SENATE -- Introduced by Sen. SEWARD -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Local Govern-
  ment

IN ASSEMBLY -- Introduced by M. of A. BUTLER -- read once  and  referred
  to the Committee on Local Governments

AN  ACT  to  authorize  the  Town  of  Frankfort to finance a litigation
  settlement by the issuance of serial bonds and/or anticipation notes

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

  Section 1. The Town of Frankfort, in the county of Herkimer, is hereby
authorized  to  issue serial bonds, subject to the provisions of section
10.10 of the local finance law, on or before June 30, 2012, in an aggre-
gate principal amount not to exceed one million four hundred fifty thou-
sand dollars ($1,450,000) for the specific object or purpose of settling
pending litigation regarding amounts owed to  the  county  for  workers'
compensation  costs.  In  anticipation  of the issuance and sale of such
serial bonds, bond  anticipation  notes  are  hereby  authorized  to  be
issued.
  S 2. Notwithstanding the provisions of any other law, general, special
or  local, to the contrary, including section 11.00 of the local finance
law, the specific object or purpose referred to in section one  of  this
act  is  hereby declared to be a public purpose which the Town of Frank-
fort is hereby authorized to  accomplish  and  the  period  of  probable
usefulness thereof is hereby authorized to be fifteen years.
  S 3. Notwithstanding the provisions of any other law, general, special
or  local,  the  Board  of the Town of Frankfort is hereby authorized to
levy a tax to be collected in annual installments sufficient to pay  the
principal  of and interest on said bonds and bond anticipation notes and
to adopt a bond resolution authorizing the serial bonds authorized to be
issued pursuant to this act.
  S 4. If any clause, sentence, subdivision, paragraph, section or  part
of  this  act  be  adjudged by any court of competent jurisdiction to be

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13412-02-1

S. 6078                             2                            A. 8847

invalid, such judgment  shall  not  affect,  impair  or  invalidate  the
remainder thereof, 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.

S6078A - Bill Details

See Assembly Version of this Bill:
A8847A
Law Section:
Herkimer County

S6078A - Bill Texts

view summary

Authorizes the town of Frankfurt to finance a litigation settlement by the issuance of serial bonds and/or anticipation notes.

view sponsor memo
BILL NUMBER:S6078A

TITLE OF BILL:
An act
to authorize the Town of Frankfort to finance a litigation settlement
by the issuance of serial bonds and/or anticipation notes

PURPOSE:
To allow the Town of Frankfort to bond for a period of
fifteen years in order to pay a one million four hundred fifty
thousand dollars ($1,450,000) to the County of Herkimer.

SUMMARY OF PROVISIONS:
Section one - authorizes the Town of Frankfort
to issue serial bonds, subject to the provisions of section 10.10 of
the Local Finance Law on or before June 30, 2013. The aggregate
principal amount shall not exceed $1,450,000 for the specific purpose
of settling amounts owed to the County of Herkimer.

Section two - authorizes the period of probable usefulness to be
fifteen (15) years.

Section three - authorizes the Town Board of the Town of Frankfort to
levy a tax to be collected in annual installments and to adopt a bond
resolution authorizing the issuance of serial bonds pursuant to this
act.

Section four - confines any judgment of invalidity rendered by any
court to competent jurisdiction in its operation to the specific
clause of this act.

Section five - provides effective date.

JUSTIFICATION:
This bill comes at the request of the Town Board of the
Town of Frankfort.
In a recent State supreme court decision, the Town of Frankfort owes
the County of Herkimer $1,450,000. for workers compensation costs.
The Town does not have sufficient funds to satisfy the judgment and
needs special authorization to issue serial bonds in order to settle
the pending litigation.

LEGISLATIVE HISTORY:
New bill.

FISCAL IMPLICATIONS:
None to the state.

EFFECTIVE DATE:
This act shall take effect immediately.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

    S. 6078--A                                            A. 8847--A

                      S E N A T E - A S S E M B L Y

                               (PREFILED)

                             January 4, 2012
                               ___________

IN  SENATE -- Introduced by Sen. SEWARD -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Local Govern-
  ment -- committee  discharged,  bill  amended,  ordered  reprinted  as
  amended and recommitted to said committee

IN  ASSEMBLY  -- Introduced by M. of A. BUTLER -- read once and referred
  to the Committee on Local Governments --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee

AN ACT to authorize the  Town  of  Frankfort  to  finance  a  litigation
  settlement by the issuance of serial bonds and/or anticipation notes

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

  Section 1. The Town of Frankfort, in the county of Herkimer, is hereby
authorized to issue serial bonds, subject to the provisions  of  section
10.10 of the local finance law, on or before June 30, 2013, in an aggre-
gate principal amount not to exceed one million four hundred fifty thou-
sand dollars ($1,450,000) for the specific object or purpose of settling
pending  litigation  regarding  amounts  owed to the county for workers'
compensation costs. In anticipation of the issuance  and  sale  of  such
serial  bonds,  bond  anticipation  notes  are  hereby  authorized to be
issued.
  S 2. Notwithstanding the provisions of any other law, general, special
or local, to the contrary, including section 11.00 of the local  finance
law,  the  specific object or purpose referred to in section one of this
act is hereby declared to be a public purpose which the Town  of  Frank-
fort  is  hereby  authorized  to  accomplish  and the period of probable
usefulness thereof is hereby authorized to be fifteen years.
  S 3. Notwithstanding the provisions of any other law, general, special
or local, the Board of the Town of Frankfort  is  hereby  authorized  to
levy  a tax to be collected in annual installments sufficient to pay the
principal of and interest on said bonds and bond anticipation notes  and

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13412-03-2

S. 6078--A                          2                         A. 8847--A

to adopt a bond resolution authorizing the serial bonds authorized to be
issued pursuant to this act.
  S  4. If any clause, sentence, subdivision, paragraph, section 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 thereof, 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.

S6078B (ACTIVE) - Bill Details

See Assembly Version of this Bill:
A8847A
Law Section:
Herkimer County

S6078B (ACTIVE) - Bill Texts

view summary

Authorizes the town of Frankfurt to finance a litigation settlement by the issuance of serial bonds and/or anticipation notes.

view sponsor memo
BILL NUMBER:S6078B

TITLE OF BILL:
An act to authorize the Town of Frankfort to finance a litigation
settlement by the issuance of serial bonds and/or anticipation notes

PURPOSE:
To allow the Town of Frankfort to bond for a period of fifteen years in
order to pay a one million four hundred fifty thousand dollars
($1,450,000) to the County of Herkimer.

SUMMARY OF PROVISIONS:
Section one - authorizes the Town of Frankfort to issue serial bonds,
subject to the provisions of section 10.10 of the Local Finance Law on
or before June 30, 2013. The aggregate principal amount shall not exceed
$1,450,000 for the specific purpose of settling amounts owed to the
County of Herkimer.

Section two - authorizes the period of probable usefulness to be fifteen
(15) years.

Section three - authorizes the Town Board of the Town of Frankfort to
levy a tax to be collected in annual installments and to adopt a bond
resolution authorizing the issuance of serial bonds pursuant to this
act.

Section four - confines any judgment of invalidity rendered by any court
of competent jurisdiction in its operation to the specific clause of
this act.

Section five - provides effective date.

JUSTIFICATION:
This bill comes at the request of the Town Board of the Town of Frank-
fort. In a recent State supreme court decision, the Town of Frankfort
owes the County of Herkimer $1,450,000 for workers' compensation costs.
The Town does not have sufficient funds to satisfy the judgment and
needs special authorization to issue serial bonds in order to settle the
pending litigation.

LEGISLATIVE HISTORY:
New bill.

FISCAL IMPLICATIONS:
None to the state.

EFFECTIVE DATE:
This act shall take effect immediately.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

    S. 6078--B                                            A. 8847--B
    Cal. No. 220

                      S E N A T E - A S S E M B L Y

                               (PREFILED)

                             January 4, 2012
                               ___________

IN  SENATE -- Introduced by Sen. SEWARD -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Local Govern-
  ment -- committee  discharged,  bill  amended,  ordered  reprinted  as
  amended  and  recommitted to said committee -- reported favorably from
  said committee, ordered to first and second report, ordered to a third
  reading, amended and ordered reprinted, retaining  its  place  in  the
  order of third reading

IN  ASSEMBLY  -- Introduced by M. of A. BUTLER -- read once and referred
  to the Committee on Local Governments --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee -- reported and referred to the Committee on  Ways  and  Means  --
  committee  discharged,  bill amended, ordered reprinted as amended and
  recommitted to said committee

AN ACT to authorize the  Town  of  Frankfort  to  finance  a  litigation
  settlement by the issuance of serial bonds and/or anticipation notes

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

  Section 1. The Town of Frankfort, in the county of Herkimer, is hereby
authorized to issue serial bonds, on or before  June  30,  2013,  in  an
aggregate  principal amount not to exceed one million four hundred fifty
thousand dollars ($1,450,000) for the  specific  object  or  purpose  of
settling  pending  litigation  regarding  amounts owed to the county for
workers' compensation costs. In anticipation of the issuance and sale of
such serial bonds, bond anticipation notes are hereby authorized  to  be
issued.
  S 2. Notwithstanding the provisions of any other law, general, special
or  local, to the contrary, including section 11.00 of the local finance
law, the specific object or purpose referred to in section one  of  this
act  is  hereby declared to be a public purpose which the Town of Frank-
fort is hereby authorized to  accomplish  and  the  period  of  probable
usefulness thereof is hereby authorized to be fifteen years.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13412-04-2

S. 6078--B                          2                         A. 8847--B

  S 3. Notwithstanding the provisions of any other law, general, special
or  local,  the  Board  of the Town of Frankfort is hereby authorized to
levy a tax sufficient to pay the principal of and interest on said bonds
and bond anticipation notes and to adopt a bond  resolution  authorizing
the serial bonds authorized to be issued pursuant to this act.
  S  4. If any clause, sentence, subdivision, paragraph, section 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 thereof, 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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