Senate Bill S6870

Signed By Governor
2011-2012 Legislative Session

Establishes that debt payments for the Rochester school facilities modernization program shall not affect the city of Rochester's maintenance of effort requirements

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Archive: Last Bill Status - 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

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2011-S6870 (ACTIVE) - Details

See Assembly Version of this Bill:
A9634
Law Section:
Education
Laws Affected:
Amd §5, Chap 416 of 2007

2011-S6870 (ACTIVE) - Summary

Establishes that debt payments for the Rochester school facilities modernization program shall not affect the city of Rochester's maintenance of effort requirements.

2011-S6870 (ACTIVE) - Sponsor Memo

2011-S6870 (ACTIVE) - Bill Text download pdf

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

                                  6870

                            I N  S E N A T E

                             March 30, 2012
                               ___________

Introduced  by  Sens.  ROBACH, ALESI, MAZIARZ, RANZENHOFER -- read twice
  and ordered printed, and when printed to be committed to the Committee
  on Education

AN ACT to amend section 5 of chapter 416 of the laws of 2007, establish-
  ing the city of Rochester and the  board  of  education  of  the  city
  school  district of the city of Rochester school facilities moderniza-
  tion program act, in relation to establishing that debt  payments  for
  the Rochester school facilities modernization program shall not affect
  the city of Rochester's maintenance of effort requirements

  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.  PAYMENT OF DEBT SERVICE ON
BONDS, NOTES OR OTHER OBLIGATIONS ISSUED TO SECURE FINANCING OF NOT MORE
THAN $325,000,000 FOR PROJECTS UNDERTAKEN PURSUANT TO THIS ACT SHALL NOT
BE CONSIDERED WHEN DETERMINING THE "CITY AMOUNT"  REQUIRED  PURSUANT  TO
SUBPARAGRAPH  (II)  OF PARAGRAPH A OF SUBDIVISION 5-B OF SECTION 2576 OF
THE EDUCATION LAW; PROVIDED, HOWEVER,  THAT  THIS  PROVISION  SHALL  NOT
OTHERWISE AFFECT THE DETERMINATION OF SAID "CITY AMOUNT" WITH RESPECT TO
FUNDING  UNRELATED TO PROJECTS UNDERTAKEN PURSUANT TO THIS ACT. The plan
should also address what specific options would be used to  ensure  that
sufficient  resources exist to cover the local share of any such project

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

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