|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Aug 01, 2012||signed chap.335|
|Jul 20, 2012||delivered to governor|
|Jun 18, 2012||returned to assembly|
home rule request
3rd reading cal.1286
substituted for s7505
|Jun 18, 2012||substituted by a10523|
ordered to third reading cal.1286
committee discharged and committed to rules
|May 30, 2012||referred to local government|
senate Bill S7505Signed By Governor
Archive: Last Bill Status Via A10523 - Signed by Governor
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed by Governor
S7505 - Details
- See Assembly Version of this Bill:
- Law Section:
- Ulster County
S7505 - Summary
Validates certain acts of the village of Ellenville with respect to certain obligations issued to finance a village sewer system.
S7505 - Sponsor Memo
BILL NUMBER:S7505 TITLE OF BILL: An act making findings and determinations with respect to obligations heretofore issued by the village of Ellenville, Ulster county, New York validating and legalizing same and authorizing the issue of obligations of said village with respect thereto PURPOSE: To allow the Village of Ellenville in Ulster County to continue to issue bonds or bond anticipation renewal notes for sewer system improvements. SUMMARY OF PROVISIONS: Section 1 - Legislative findings. Section 2 - Authorizes the issuance of bonds or bond renewal notes for sewer system improvements, including financing through the New York State Environmental Facilities Corporation. Section 3 - Provides that obligations of this act shall be issued in accordance with local finance law. Section 4 - Provides that if any portion of the act is judged to be invalid, such judgment will only affect said portion of the act.
S7505 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7505 I N S E N A T E May 30, 2012 ___________ Introduced by Sen. BONACIC -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT making findings and determinations with respect to obligations heretofore issued by the village of Ellenville, Ulster county, New York validating and legalizing same and authorizing the issue of obli- gations of said village with respect thereto THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Legislative findings. It is hereby found and determined that the village of Ellenville, Ulster county, New York, has heretofore adopted bond resolutions authorizing an aggregate ten million eight hundred thousand dollars of bonds to finance the acquisition, construction and reconstruction of improvements to the village sewer system; that said village assigned a thirty year period of probable usefulness to said sewer system improvements when it was entitled to forty years under section 11.00 of the local finance law; that said village executed a project finance agreement with the New York State Environmental Facilities Corporation on September 2, 2010, authorizing the village to borrow up to $5,259,000 for such improvements through a draw down process; that on August 10, 2011 the village issued ten million five hundred thousand dollars in bond anticipation notes for such sewer system improvements which notes mature on August 10, 2012; that on September 22, 2011, the village requested and received $431,777.62 from the New York State Environmental Facilities Corporation for sewer system improvements which amount caused the village to exceed the amount of bonds and notes that may be issued under the aforemen- tioned bond resolutions; that such $431,777.62 has been returned to the New York State Environmental Facilities Corporation. S 2. Notwithstanding the defects described in section one of this act, the draw down from the New York State Environmental Facilities Corpo- ration is hereby validated and ratified. The village of Ellenville is hereby authorized to continue to issue bonds or bond anticipation renewal notes for the aforesaid sewer system improvements including financing through the New York State Environmental Facilities Corpo- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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