Senate Bill S7736

2011-2012 Legislative Session

Enacts the "Rockland county financing act" to authorize the county of Rockland to issue bonds

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Rules 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

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2011-S7736 (ACTIVE) - Details

See Assembly Version of this Bill:
A10707
Current Committee:
Senate Rules
Law Section:
Rockland County
Versions Introduced in 2013-2014 Legislative Session:
S4674, A695, A6758

2011-S7736 (ACTIVE) - Summary

Enacts the "Rockland county deficit financing act" to authorize the county of Rockland to issue bonds.

2011-S7736 (ACTIVE) - Sponsor Memo

2011-S7736 (ACTIVE) - Bill Text download pdf

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

                                  7736

                            I N  S E N A T E

                              June 15, 2012
                               ___________

Introduced  by Sen. CARLUCCI -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

AN ACT authorizing the county of Rockland to issue bonds; and  providing
  for the repeal of such provisions upon expiration thereof

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1.  Short title. This act shall be known and may be  cited  as
the "Rockland county deficit financing act".
  S  2.  Definitions. (a) "Budget" shall mean a current operating budget
of the county prepared or adopted pursuant to general, special or  local
law,  being  the  annual  budget and estimate of expenditures to be made
during a fiscal year for the general support and current expenses of the
government of the county to be paid from taxes or assessments  or  other
current revenues of the county for such year.
  (b) "Comptroller" shall mean the New York state comptroller.
  (c) "County" shall mean the county of Rockland.
  (d)  "County  executive"  shall  mean the county executive of Rockland
county.
  (e) "County legislature" shall mean the legislative body of the county
of Rockland.
  (f) "Fiscal year" shall mean the fiscal year of the county.
  S 3. Bonds. The county of Rockland is hereby authorized to issue seri-
al bonds, subject to the  provisions  of  section  10.10  of  the  local
finance  law, on or before September 30, 2013, in an aggregate principal
amount not to  exceed  eighty  million  dollars  ($80,000,000)  for  the
specific object or purpose of liquidating current deficits in its gener-
al  fund  as  of  December  31, 2010, December 31, 2011 and December 31,
2012.  In anticipation of the issuance and sale of  such  serial  bonds,
bond anticipation notes are hereby authorized to be issued.
  S  4.  Budget review by state comptroller. During the effective period
of this act, the county executive shall submit the proposed  budget  for
the  next  succeeding fiscal year to the state comptroller no later than
thirty days before the date scheduled for the county legislature's  vote
on the adoption of the final budget or the last date on which the budget

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

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