|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Aug 01, 2012||
|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
Relates to validating certain acts of the village of Ellenville with respect to certain obligations
Archive: Last Bill Status Via A10523 - Signed by Governor
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed by Governor
view actions (11)
Jun 18, 2012 - floor VoteA10523560floor56Aye0Nay0Absent6Excused0Abstained
show floor vote details
Floor Vote: Jun 18, 2012aye (56)
Jun 18, 2012 - Rules committee VoteS7505230committee23Aye0Nay0Aye with Reservations0Absent2Excused0Abstained
- show floor vote details
S7505 - Bill Details
- See Assembly Version of this Bill:
- Law Section:
- Ulster County
S7505 - Bill Texts
Validates certain acts of the village of Ellenville with respect to certain obligations issued to finance a village sewer system.
view sponsor memo
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
To allow the Village of Ellenville in Ulster County to continue to
issue bonds or bond anticipation renewal notes for sewer system
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.
Section 5 - Effective date.
This bill has been requested by the Village of Ellenville to ensure
that the Village will be able to continue making capital improvements
to its wastewater system through the issuance of bonds or bond
anticipation renewal notes.
None to state.
This act shall take effect immediately.
view full text
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. LBD16070-01-2 S. 7505 2 ration and the period of probable usefulness thereof is hereby deter- mined to be forty years measured from August 10, 2011. S 3. Except as provided herein, any obligations issued pursuant to this act shall be issued in accordance with the provisions of the local finance law. 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.
Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.
By contributing or voting you agree to the Terms of Participation and verify you are over 13.