senate Bill S3861

2013-2014 Legislative Session

Relates to contents of notice of meeting or election where special tax or tax to be collected in installments is to be voted

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to local government
Feb 25, 2013 referred to local government

S3861 - Details

See Assembly Version of this Bill:
A5658
Current Committee:
Law Section:
Local Finance Law
Laws Affected:
Amd ยง41.10, Loc Fin L
Versions Introduced in 2011-2012 Legislative Session:
S5204A, A8995

S3861 - Summary

Relates to contents of notice of meeting or election where special tax or tax to be collected in installments is to be voted on.

S3861 - Sponsor Memo

S3861 - Bill Text download pdf

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

                                  3861

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 25, 2013
                               ___________

Introduced  by Sen. NOZZOLIO -- 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 contents of notice
  of meeting or election where special tax or tax  to  be  collected  in
  installments is to be voted on

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

  Section 1. Section 41.10 of the local finance law, as added by chapter
582 of the laws of 1951, is amended to read as follows:
  S 41.10 Contents of notice of meeting or election where special tax or
tax to be collected in installments is to be voted.  Where the voting of
a special tax or a tax to be collected in installments  is  a  condition
precedent  to  the  adoption of a bond resolution or capital note resol-
ution and the bonds or capital notes are  to  be  issued  to  finance  a
specific object or purpose, the notice of the meeting or the election at
which  such  tax  is voted must state the estimated maximum cost of each
item of such specific object or purpose and the estimated total cost  of
all  of  the  items,  WHERE THE ESTIMATED TOTAL COST OF ALL OF THE ITEMS
INCLUDES, AND LISTS, THE ESTIMATED TOTAL INTEREST COSTS ASSOCIATED  WITH
THE  BOND RESOLUTION OR CAPITAL NOTE RESOLUTION; PROVIDED, HOWEVER, WITH
REGARD TO SCHOOL DISTRICTS, THE COST OF PROVIDING  SUCH  TOTAL  INTEREST
COSTS SHALL BE MINIMIZED TO THE GREATEST EXTENT PRACTICABLE.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01111-01-3

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