senate Bill S6371A

Signed By Governor
2011-2012 Legislative Session

Extends, until January 1, 2017, the expiration of the electronic public bond sale pilot program for the county of Westchester

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A9537 - 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 (13)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jul 18, 2012 signed chap.143
Jul 06, 2012 delivered to governor
Jun 12, 2012 returned to assembly
passed senate
home rule request
3rd reading cal.1153
substituted for s6371a
Jun 12, 2012 substituted by a9537
ordered to third reading cal.1153
committee discharged and committed to rules
Mar 02, 2012 print number 6371a
amend and recommit to local government
Feb 01, 2012 referred to local government

S6371 - Details

See Assembly Version of this Bill:
A9537
Law Section:
Local Finance Law
Laws Affected:
Amd §58.10, Loc Fin L; amd §2, Chap 304 of 2009

S6371 - Summary

Extends, until January 1, 2017, the expiration of the electronic public bond sale pilot program for the county of Westchester; and makes technical corrections to the provisions of such program.

S6371 - Sponsor Memo

S6371 - Bill Text download pdf

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

                                  6371

                            I N  S E N A T E

                            February 1, 2012
                               ___________

Introduced  by  Sen.  KLEIN  -- 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  electronic
  public  bond  sale pilot program; and to amend chapter 304 of the laws
  of 2009, amending the local finance law relating to the  establishment
  of  an electronic public bond sale pilot program for Westchester coun-
  ty, in relation to extending the expiration  date  of  the  provisions
  thereof

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

  Section 1. Section 58.10 of the local finance law, as added by chapter
304 of the laws of 2009, is amended to read as follows:
  S 58.10 Electronic public bond sale pilot program. a. AS USED IN  THIS
SECTION, THE FOLLOWING TERMS SHALL MEAN:
  1.  "CLOSED AUCTION" MEANS A BOND SALE PROCEDURE THAT DOES NOT ALLOW A
BIDDER TO RECEIVE INFORMATION WITH RESPECT TO THE RANKING  OR  ITS  BIDS
PRIOR TO THE CONCLUSION OF THE BIDDING PERIOD.
  2. "COUNTY" MEANS THE COUNTY OF WESTCHESTER.
  3. "NATIONALLY RECOGNIZED ELECTRONIC SECURITIES BIDDING SERVICE" MEANS
A BIDDING SERVICE THAT IS RECOGNIZED NATIONALLY BY THE PREDOMINANT USERS
OF  ELECTRONIC  SECURITIES  BIDDING  SERVICES  AS PROVIDING AN ACCURATE,
SECURE AND RELIABLE ON-LINE BIDDING SYSTEM.
  4. "OPEN AUCTION" MEANS A BOND SALE PROCEDURE THAT ALLOWS A BIDDER  TO
RECEIVE INFORMATION WITH RESPECT TO THE RANKING OF ITS BIDS PRIOR TO THE
CONCLUSION  OF THE BIDDING PERIOD IN ACCORDANCE WITH THE COUNTY'S NOTICE
OF SUCH BOND SALE CIRCULATED IN ACCORDANCE WITH APPLICABLE  REQUIREMENTS
OF THIS CHAPTER.
  5.  "PROGRAM"  MEANS  THE  ELECTRONIC  PUBLIC  BOND SALE PILOT PROGRAM
ESTABLISHED PURSUANT TO THIS SECTION.
  B. There is hereby established an electronic public  bond  sale  pilot
program  [(referred to in this section as the "program")] solely for the
county [of Westchester (referred to in this section  as  the  "county")]
authorizing the county to conduct public bond sales through any [bidding
services  that  are  recognized  nationally  by the predominant users of
electronic securities bidding services as providing an accurate,  secure
and  reliable on-line bidding system (referred to in this section as "a]
nationally recognized electronic securities bidding [service")] SERVICE.

S6371A (ACTIVE) - Details

See Assembly Version of this Bill:
A9537
Law Section:
Local Finance Law
Laws Affected:
Amd §58.10, Loc Fin L; amd §2, Chap 304 of 2009

S6371A (ACTIVE) - Summary

Extends, until January 1, 2017, the expiration of the electronic public bond sale pilot program for the county of Westchester; and makes technical corrections to the provisions of such program.

S6371A (ACTIVE) - Sponsor Memo

S6371A (ACTIVE) - Bill Text download pdf

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

                                 6371--A

                            I N  S E N A T E

                            February 1, 2012
                               ___________

Introduced  by  Sen.  KLEIN  -- read twice and ordered printed, and when
  printed to be committed  to  the  Committee  on  Local  Government  --
  committee  discharged,  bill amended, ordered reprinted as amended and
  recommitted to said committee

AN ACT to amend the local finance law, in  relation  to  the  electronic
  public  bond  sale pilot program; and to amend chapter 304 of the laws
  of 2009, amending the local finance law relating to the  establishment
  of  an electronic public bond sale pilot program for Westchester coun-
  ty, in relation to extending the expiration  date  of  the  provisions
  thereof

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

  Section 1. Section 58.10 of the local finance law, as added by chapter
304 of the laws of 2009, is amended to read as follows:
  S 58.10 Electronic public bond sale pilot program. a. AS USED IN  THIS
SECTION:
  1.  "CLOSED AUCTION" MEANS A BOND SALE PROCEDURE THAT DOES NOT ALLOW A
BIDDER TO RECEIVE INFORMATION WITH RESPECT TO THE RANKING  OF  ITS  BIDS
PRIOR TO THE CONCLUSION OF THE BIDDING PERIOD.
  2. "COUNTY" MEANS THE COUNTY OF WESTCHESTER.
  3. "NATIONALLY RECOGNIZED ELECTRONIC SECURITIES BIDDING SERVICE" MEANS
A BIDDING SERVICE THAT IS RECOGNIZED NATIONALLY BY THE PREDOMINANT USERS
OF  ELECTRONIC  SECURITIES  BIDDING  SERVICES  AS PROVIDING AN ACCURATE,
SECURE AND RELIABLE ON-LINE BIDDING SYSTEM.
  4. "OPEN AUCTION" MEANS A BOND SALE PROCEDURE THAT ALLOWS A BIDDER  TO
RECEIVE INFORMATION WITH RESPECT TO THE RANKING OF ITS BIDS PRIOR TO THE
CONCLUSION  OF THE BIDDING PERIOD IN ACCORDANCE WITH THE COUNTY'S NOTICE
OF SUCH BOND SALE CIRCULATED IN ACCORDANCE WITH APPLICABLE  REQUIREMENTS
OF THIS CHAPTER.
  5.  "PROGRAM"  MEANS  THE  ELECTRONIC  PUBLIC  BOND SALE PILOT PROGRAM
ESTABLISHED PURSUANT TO THIS SECTION.
  B. There is hereby established an electronic public  bond  sale  pilot
program  [(referred to in this section as the "program")] solely for the
county [of Westchester (referred to in this section  as  the  "county")]

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

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