senate Bill S4364

Signed By Governor
2013-2014 Legislative Session

Relates to the sale of municipal obligations by the county of Erie

download bill text pdf

Sponsored By

Archive: Last Bill Status -

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

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view actions (15)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 30, 2013 signed chap.89
Jun 24, 2013 delivered to governor
May 29, 2013 returned to senate
passed assembly
home rule request
ordered to third reading cal.358
substituted for a6354
May 20, 2013 referred to ways and means
delivered to assembly
passed senate
home rule request
May 06, 2013 advanced to third reading
May 01, 2013 2nd report cal.
Apr 30, 2013 1st report cal.495
Mar 22, 2013 referred to local government

S4364 - Details

See Assembly Version of this Bill:
Law Section:
Local Finance Law
Laws Affected:
Amd §54.50, Loc Fin L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S2787, S6606, A9355
2009-2010: S6833

S4364 - Summary

Relates to the sale of municipal obligations by the county of Erie.

S4364 - Sponsor Memo

S4364 - 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

                             March 22, 2013

Introduced  by Sen. GALLIVAN -- 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 sale of munic-
  ipal obligations by the county of Erie


  Section 1. Section 54.50 of the local finance law, as amended by chap-
ter 80 of the laws of 2012, is amended to read as follows:
  S 54.50 Costs of sales; county of Erie. To facilitate the marketing of
any  issue  of  serial bonds or notes of the county of Erie issued on or
before June thirtieth, two thousand [thirteen] FOURTEEN such county 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, compensation for such underwriting to be
provided by negotiated fee or by sale of  such  bonds  or  notes  to  an
underwriter  at  a  price  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  negoti-
ated 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
  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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