senate Bill S2369A

Signed By Governor
2013-2014 Legislative Session

Relates to the notice of sale of bonds

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Archive: Last Bill Status - Signed by Governor


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

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Actions

view actions (20)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Nov 13, 2013 signed chap.494
Nov 01, 2013 delivered to governor
Jun 17, 2013 returned to senate
passed assembly
ordered to third reading rules cal.201
substituted for a493a
Jun 03, 2013 referred to local governments
returned to assembly
repassed senate
May 20, 2013 amended on third reading (t) 2369a
vote reconsidered - restored to third reading
May 20, 2013 returned to senate
recalled from assembly
Apr 24, 2013 referred to local governments
delivered to assembly
passed senate
Apr 22, 2013 advanced to third reading
Apr 17, 2013 2nd report cal.
Apr 16, 2013 1st report cal.326
Jan 16, 2013 referred to local government

S2369 - Details

See Assembly Version of this Bill:
A493A
Law Section:
Local Finance Law
Laws Affected:
Amd §58.00, Loc Fin L
Versions Introduced in 2011-2012 Legislative Session:
A9608, S6372B

S2369 - Summary

Relates to the notice of sale of bonds.

S2369 - Sponsor Memo

S2369 - Bill Text download pdf

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

                                  2369

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 16, 2013
                               ___________

Introduced  by  Sen.  KLEIN  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government

AN ACT to amend the local finance law, in relation to the  establishment
  of  an  electronic  public bond sale pilot program for municipalities;
  and providing for the repeal of such provisions upon expiration there-
  of

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

  Section  1.  The  local finance law is amended by adding a new section
58.20 to read as follows:
  S 58.20 ELECTRONIC PUBLIC BOND SALE PROGRAM; MUNICIPALITIES.  A.    AS
USED IN THIS SECTION:
  1.  "CLOSED AUCTION" MEANS A BOND SALE PROCEDURE THAT DOES NOT ALLOW A
BIDDER TO RECEIVE INFORMATION WITH RESPECT TO THE RANKING  OF  ITS  BIDS
PRIOR TO THE CONCLUSION OF THE BIDDING PERIOD.
  2.  "MUNICIPALITY"  MEANS  A  COUNTY,  CITY,  TOWN,  VILLAGE OR SCHOOL
DISTRICT.
  3. "NATIONALLY RECOGNIZED ELECTRONIC SECURITIES BIDDING SERVICE" MEANS
A BIDDING SERVICE THAT IS RECOGNIZED NATIONALLY BY THE PREDOMINANT USERS
OF ELECTRONIC SECURITIES BIDDING  SERVICES  AS  PROVIDING  AN  ACCURATE,
SECURE AND RELIABLE ON-LINE BIDDING SYSTEM.
  4.  "OPEN AUCTION" MEANS A BOND SALE PROCEDURE THAT ALLOWS A BIDDER TO
RECEIVE INFORMATION WITH RESPECT TO THE RANKING OF ITS BIDS PRIOR TO THE
CONCLUSION OF THE BIDDING PERIOD IN ACCORDANCE WITH  THE  MUNICIPALITY'S
NOTICE  OF  SUCH  BOND  SALE  CIRCULATED  IN  ACCORDANCE WITH APPLICABLE
REQUIREMENTS OF THIS CHAPTER.
  5. "PROGRAM" MEANS THE  ELECTRONIC  PUBLIC  BOND  SALE  PILOT  PROGRAM
ESTABLISHED PURSUANT TO THIS SECTION.
  B.  THERE  IS  HEREBY ESTABLISHED AN ELECTRONIC PUBLIC BOND SALE PILOT
PROGRAM AUTHORIZING MUNICIPALITIES TO CONDUCT PUBLIC BOND SALES  THROUGH
ANY NATIONALLY RECOGNIZED ELECTRONIC SECURITIES BIDDING SERVICE.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05062-01-3

S2369A (ACTIVE) - Details

See Assembly Version of this Bill:
A493A
Law Section:
Local Finance Law
Laws Affected:
Amd §58.00, Loc Fin L
Versions Introduced in 2011-2012 Legislative Session:
A9608, S6372B

S2369A (ACTIVE) - Summary

Relates to the notice of sale of bonds.

S2369A (ACTIVE) - Sponsor Memo

S2369A (ACTIVE) - Bill Text download pdf

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

                                 2369--A
    Cal. No. 326

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 16, 2013
                               ___________

Introduced  by  Sen.  KLEIN  -- read twice and ordered printed, and when
  printed to be committed  to  the  Committee  on  Local  Government  --
  reported  favorably  from  said committee, ordered to first and second
  report, ordered to a third reading, passed by Senate and delivered  to
  the  Assembly, recalled, vote reconsidered, restored to third reading,
  amended and ordered reprinted, retaining its place  in  the  order  of
  third reading

AN ACT to amend the local finance law, in relation to the notice of sale
  of bonds

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

  Section 1. Paragraph a of section 58.00 of the local finance  law,  as
amended  by  section  6  of part X of chapter 62 of the laws of 2003, is
amended to read as follows:
  a. There shall be published, at least once, not  less  than  five  nor
more  than  thirty  days  before  the  date fixed for the public sale of
bonds, a notice of such public sale or a summary thereof  in  accordance
with  one  of  the  following  methods:  (1) the notice of sale shall be
published in any financial newspaper published  and  circulated  in  the
city  of  New  York  which  the  state comptroller, in the rule or order
referred to in paragraph d of  section  57.00  of  this  chapter,  shall
designate  for  such publication; (2) the notice of sale shall be circu-
larized in such manner as the state comptroller shall prescribe in  such
rule  or  order  and  shall  be published in any newspaper or newspapers
which the finance board of the municipality, school district or district
corporation may designate for such purpose; or (3) (i) a summary of  the
notice  of  sale  shall  be  published  in  both the financial newspaper
published and circulated in the city of New York which the  state  comp-
troller  has  designated in the rule or order referred to in paragraph d
of section 57.00 of this chapter, and (ii) any newspaper  or  newspapers
which the finance board of the municipality, school district or district

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

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