Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 04, 2012 |
referred to finance |
Jun 11, 2011 |
committee discharged and committed to rules |
Jun 08, 2011 |
committee discharged and committed to finance referred to local government |
Senate Bill S5630
2011-2012 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Finance Committee
- 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
co-Sponsors
(R) Senate District
2011-S5630 (ACTIVE) - Details
- Current Committee:
- Senate Finance
- Law Section:
- Rochester, City of
- Laws Affected:
- Amd ยง5, Chap 416 of 2007
2011-S5630 (ACTIVE) - Sponsor Memo
BILL NUMBER:S5630 REVISED 06/08/11 TITLE OF BILL: An act to amend chapter 416 of the laws of 2007, establishing the city of Rochester and the board of education of the city school district of the city of Rochester school facilities modernization program act, in relation to debt payments for such school facilities PURPOSE: To make it easier for the Rochester city School District to undertake modernization of their school facilities. SUMMARY OF PROVISIONS: Section 5 of chapter 416 of the laws of 2007, establishing the city of Rochester and the board of education of the city school district of the city Rochester is amended as follows: All payments, including lease payments and debt services on any bond, notes or other obligations issued to finance project undertaken pursuant to this act shall be considered debt service payments of the city school districts for purpose of subparagraph (ii) of paragraph a of subdivision 5-b of section 2576 of the education law in a manner consistent with the legislative intent of such section JUSTIFICATION: The Rochester City School District cannot, by law, borrow money and,
2011-S5630 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5630 2011-2012 Regular Sessions I N S E N A T E June 8, 2011 ___________ Introduced by Sens. ROBACH, MAZIARZ -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend chapter 416 of the laws of 2007, establishing the city of Rochester and the board of education of the city school district of the city of Rochester school facilities modernization program act, in relation to debt payments for such school facilities THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 5 of chapter 416 of the laws of 2007, establishing the city of Rochester and the board of education of the city school district of the city of Rochester school facilities modernization program act, is amended to read as follows: S 5. Comprehensive school facilities modernization plan. Before formal selection of the projects occurs, the RSC board shall develop a comprehensive school facilities modernization plan recommending and outlining the projects it proposes to be potentially undertaken pursuant to this act. Such plan shall include: (a) an estimate of total costs to be financed, proposed financing plan, proposed method of financing, terms and conditions of the financing, estimated financing costs, and, if city general obligation bonds or notes are not proposed as the method of financing, a comparison of financing costs between such bonds or notes and the proposed method of financing. ALL PAYMENTS, INCLUDING LEASE PAYMENTS AND DEBT SERVICE ON ANY BONDS, NOTES OR OTHER OBLIGATIONS ISSUED TO FINANCE PROJECTS UNDERTAKEN PURSUANT TO THIS ACT SHALL BE CONSIDERED DEBT SERVICE PAYMENTS OF THE CITY SCHOOL DISTRICT FOR PURPOSES OF SUBPARAGRAPH (II) OF PARAGRAPH A OF SUBDIVISION 5-B OF SECTION 2576 OF THE EDUCATION LAW IN A MANNER CONSISTENT WITH THE LEGIS- LATIVE INTENT OF SUCH SECTION. The plan should also address what specif- ic options would be used to ensure that sufficient resources exist to cover the local share of any such project cost on an annual basis; (b) information concerning the potential persons to be involved in the EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13010-01-1
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