senate Bill S3020

Signed By Governor
2013-2014 Legislative Session

Relates to bonds and notes of the city of Yonkers

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A3157 -

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

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view actions (12)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 30, 2013 signed chap.69
Jun 24, 2013 delivered to governor
Jun 12, 2013 returned to assembly
passed senate
home rule request
3rd reading cal.234
substituted for s3020
Jun 12, 2013 substituted by a3157
Mar 21, 2013 advanced to third reading
Mar 20, 2013 2nd report cal.
Mar 19, 2013 1st report cal.234
Jan 28, 2013 referred to local government


S3020 - Details

See Assembly Version of this Bill:
Law Section:
Local Finance Law
Laws Affected:
Amd ยง54.40, Loc Fin L
Versions Introduced in 2011-2012 Legislative Session:
S6460, A9292

S3020 - Summary

Relates to bonds and notes of the city of Yonkers.

S3020 - Sponsor Memo

S3020 - Bill Text download pdf

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


                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 28, 2013

Introduced  by  Sen.  STEWART-COUSINS -- 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 bonds and notes of
  the city of Yonkers


  Section 1. Section 54.40 of the local finance law, as amended by chap-
ter 72 of the laws of 2012, is amended to read as follows:
  S  54.40  Bonds  and  notes  of  the  city  of Yonkers. Subject to the
provisions of the New York state financial  emergency  act  of  nineteen
hundred eighty-four for the city of Yonkers, to facilitate the marketing
of  any  issue of serial bonds or notes of the city of Yonkers issued on
or before June thirtieth, two thousand [thirteen]  FOURTEEN,  such  city
may,  notwithstanding any limitations on private sales of bonds provided
by law, and subject to approval by the state comptroller  of  the  terms
and  conditions  of  such  sale: (a) arrange for the underwriting of its
bonds or notes at private sale  through  negotiated  agreement,  compen-
sation for such underwriting to be provided by negotiated fee or by sale
of such bonds or notes to an underwriter at a price of less than the sum
of  par  value of, and the accrued interest on, such obligations; or (b)
arrange for the private sale of its bonds or  notes  through  negotiated
agreement, compensation for such sales to be provided by negotiated fee,
if required. The cost of such underwriting or private placement shall be
deemed a preliminary cost for purposes of section 11.00 of this article.
  S 2. This act shall take effect immediately.

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


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