|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Nov 13, 2013||
|Nov 01, 2013||
delivered to governor
|Jun 20, 2013||
returned to assembly
home rule request
3rd reading cal.1571
substituted for s4674
|Jun 20, 2013||
substituted by a6758
ordered to third reading cal.1571
committee discharged and committed to rules
|Apr 17, 2013||
referred to local government
senate Bill S4674Signed By Governor
Enacts the "Rockland county financing act" to authorize the county of Rockland to issue bonds
Archive: Last Bill Status Via A6758 - Signed by Governor
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed by Governor
view actions (11)
Jun 20, 2013 - floor VoteA6758612floor61Aye2Nay0Absent0Excused0Abstained
show floor vote details
Floor Vote: Jun 20, 2013aye (61)
Jun 20, 2013 - Rules committee VoteS4674221committee22Aye1Nay2Aye with Reservations0Absent0Excused0Abstained
- show floor vote details
S4674 - Bill Details
S4674 - Bill Texts
Enacts the "Rockland county deficit financing act" to authorize the county of Rockland to issue bonds.
view sponsor memo
BILL NUMBER:S4674 REVISED 5/6/13
TITLE OF BILL: An act authorizing the county of Rockland to issue
bonds; and providing for the repeal of such provisions upon expiration
PURPOSE: To authorize the county of Rockland (the "County") to issue
up to $96 million in bonds to liquidate the projected accumulated
deficit in its general fund for the fiscal years ending December 31,
2010, December 31, 2011 and December 31, 2012.
SUMMARY OF PROVISIONS: The County is authorized to issue bonds on or
before September 30, 2014 in an aggregate principal amount not to
exceed $96,000,000 for the specific object or purpose of liquidating
the projected accumulated deficit in the general fund of such county
for the fiscal years ending December 31, 2010, December 31, 2011 and
December 31, 2012. In anticipation of the issuance of the bonds
authorized to be issued by this act, the issuance and sale of bond
anticipation notes is authorized.
For each fiscal year during the time bonds and/or notes issued
pursuant to this act are outstanding, the County Executive shall
submit the proposed budget to the State Comptroller thirty days prior
to the county legislature's scheduled vote on the adoption of the
final budget. The State Comptroller shall examine the proposed budget
and make recommendations and the county shall make adjustments to the
proposed budget consistent with any such recommendations.
JUSTIFICATION: The County needs state legislative approval to finance
the projected accumulated $96 million deficit over a ten year period.
The County increased property taxes by 30% in the County's adopted
2012 budget, is currently negotiating with its public employee
collective bargaining units to control personnel costs, and is
otherwise evaluating its policy options to address significant
increases in the costs of state retirement fund contributions and
unfunded state mandated service costs during this very difficult
economic environment for all local governments. The County is also
evaluating the operations and possible disposition of its nursing home
which requires significant annual operating subsidies. By local law,
the County has imposed a multi-year financial planning requirement to
facilitate understanding of revenue and expenditure trends and support
fiscal management over a multi-year time horizon.
LEGISLATIVE HISTORY: New bill; similar to S.7736/A.10707 of 2012.
FISCAL IMPLICATIONS: None.
EFFECTIVE DATE: This act shall take effect immediately; and shall
remain in full force and effect until the tenth anniversary of the
date of second issuance of deficit bonds or deficit notes pursuant to
view full text
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 4674 A. 6758 2013-2014 Regular Sessions S E N A T E - A S S E M B L Y April 17, 2013 ___________ IN SENATE -- Introduced by Sens. CARLUCCI, LARKIN -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government IN ASSEMBLY -- Introduced by M. of A. JAFFEE, ZEBROWSKI, RABBITT -- read once and referred to the Committee on Local Governments 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, 2014, in an aggregate principal amount not to exceed ninety-six million dollars ($96,000,000) 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, EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02733-02-3 S. 4674 2 A. 6758 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 may be finally adopted, whichever is sooner. The state comptroller shall examine such proposed budget and make such recommendations as deemed appropriate thereon to the county prior to the adoption of the budget, but no later than ten 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 must be adopted, whichever is sooner. Such recommen- dations shall be made after examination into the estimates of revenues and expenditures of the county. The county legislature, no later than five days prior to the adoption of the budget, shall review any such recommendations and make adjustments to the proposed budget consistent with any recommendations made by the state comptroller. S 5. Severability clause. If any clause, sentence, paragraph, section or part of this act shall be adjudged by any court of competent juris- diction to be invalid, such judgment shall not affect, impair or invali- date the remainder thereof, but shall be confined in its operation to the clause, sentence, paragraph, section or part involved in the contro- versy in which such judgment shall have been rendered. The provisions of this act shall be liberally construed to assist the effectuation of the public purposes furthered hereby. S 6. This act shall take effect immediately; and shall remain in full force and effect until the tenth anniversary of the date of second issu- ance of deficit bonds or deficit notes pursuant to this act, when upon such date the provisions of this act shall expire and be deemed repealed; and provided, however, that the state comptroller shall notify the legislative bill drafting commission upon the occurrence of this act in order that the commission may maintain an accurate and timely effec- tive data base of the official text of the laws of the state of New York in furtherance of effectuating the provisions of section 44 of the legislative law and section 70-b of the public officers law.
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