Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 29, 2012 |
signed chap.91 |
Jun 22, 2012 |
delivered to governor |
Jun 18, 2012 |
returned to senate passed assembly ordered to third reading rules cal.339 substituted for a10610 |
Jun 18, 2012 |
substituted by s7645 rules report cal.339 reported |
Jun 13, 2012 |
reported referred to rules |
Jun 11, 2012 |
reported referred to ways and means |
Jun 08, 2012 |
referred to local governments |
Assembly Bill A10610
Signed By Governor2011-2012 Legislative Session
Sponsored By
MAGNARELLI
Archive: Last Bill Status Via S7645 - 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
Actions
Votes
2011-A10610 (ACTIVE) - Details
- See Senate Version of this Bill:
- S7645
- Law Section:
- Local Finance Law
- Laws Affected:
- Amd §§21.00, 53.00, 54.90 & 107.00, Loc Fin L; amd §81, Chap 413 of 1991
2011-A10610 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10610 I N A S S E M B L Y June 8, 2012 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Magnarelli) -- read once and referred to the Committee on Local Governments AN ACT to amend the local finance law and chapter 413 of the laws of 1991, amending the local finance law and other laws relating to providing relief to local governments for certain mandated programs and services, in relation to local government borrowing practices and mandate relief THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph b of section 21.00 of the local finance law, as amended by chapter 186 of the laws of 2009, is amended to read as follows: b. Serial bonds shall mature in annual installments. The first installment shall mature not later than eighteen months after the date of such bonds or two years after the date of the first bond anticipation note or notes issued in anticipation of such bonds, whichever is the earlier, provided, however, that until July fifteenth, two thousand [twelve] FIFTEEN, the first installment shall mature not later than two years after the date of such bonds or two years after the date of the first bond anticipation note or notes issued in anticipation of such bonds, whichever is the earlier. However, if bond anticipation notes are issued in anticipation of bonds and if a portion of such notes or the renewals thereof are redeemed from a source other than the proceeds of such bonds within two years from the date of the first such note or notes and a further portion thereof shall be so redeemed prior to the termination of each twelve months' period succeeding the date such original portion was so redeemed, the first installment of such bonds may, in the alternative, be made to mature not later than five years from the date of the first such note or notes. S 2. Paragraph b of section 53.00 of the local finance law, as amended by chapter 186 of the laws of 2009, is amended to read as follows: b. If such bonds or notes are payable in installments, the install- ments remaining unpaid may be called for redemption only (i) in the inverse order of their maturity or, (ii) in equal proportionate amounts; provided, however, that for bonds issued during the one-year period commencing July first, nineteen hundred eighty-eight, and for bonds issued during the one-year period commencing July first, nineteen
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