senate Bill S6975

Signed By Governor
2013-2014 Legislative Session

Legalizes, validates, ratifies and confirms the actions of the village board of the village of Parish notwithstanding certain defects

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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

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Sep 04, 2014 signed chap.343
Aug 25, 2014 delivered to governor
Jun 18, 2014 returned to senate
passed assembly
home rule request
ordered to third reading rules cal.366
substituted for a9271
Jun 10, 2014 referred to local governments
delivered to assembly
passed senate
home rule request
Jun 03, 2014 ordered to third reading cal.1121
reported and committed to rules
Apr 09, 2014 referred to local government

Votes

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Jun 3, 2014 - Rules committee Vote

S6975
24
0
committee
24
Aye
0
Nay
0
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Rules committee vote details

Jun 3, 2014 - Local Government committee Vote

S6975
9
0
committee
9
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Local Government committee vote details

Local Government Committee Vote: Jun 3, 2014

S6975 - Bill Details

See Assembly Version of this Bill:
A9271
Law Section:
Villages

S6975 - Bill Texts

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Legalizes, validates, ratifies and confirms the actions of the village board of the village of Parish notwithstanding certain defects.

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BILL NUMBER:S6975

TITLE OF BILL: An act to legalize, validate, ratify and confirm the
actions of the village board of the village of Parish notwithstanding
certain defects

PURPOSE:

This bill validates, ratifies and legalizes the actions taken by the
village of Parish, in the county of Oswego, relating to the financing
and renewal of a bond anticipation note issued by the village for the
purpose of construction of certain sewer improvements, notwithstanding
the fact that the village of Parish failed to make a required
principal payment in accordance with the Local Finance Law on said
bond anticipation note.

SUMMARY OF PROVISIONS:

Section 1 of this bill makes legislative findings regarding the
issuance and refinancing of bond anticipation notes issued by the
village of Parish for the construction of certain sewer improvements
within the village, and states the fact that the village was not in
compliance with Local Finance Law when it failed to make a timely
principal payment on the specified bond anticipation note.

Section 2 of this bill validates, ratifies and legalizes the actions
and payments made by the village of Parish relating to the bond
anticipation note in 2014.

Section 3 of this bill provides that, except as provided in the act,
any obligations issued pursuant to the act shall be issued in
accordance with the provisions of the Local Finance Law.

Section 4 of this bill sets forth a severability provision.

Section 5 of this bill provides that the act shall take effect
immediately.

JUSTIFICATION:

The failure to make the required principal payment on its obligation
was unintentional and the result of miscommunication between the
village of Parish and the Environmental Facilities Corporation (EFC).
The village has acted in good faith by acknowledging this mistake.
Resolution of this error requires the enactment of this legislation so
that the construction on the sewer improvements can move forward.

LEGISLATIVE HISTORY:

New bill.

FISCAL IMPLICATIONS:

None.

EFFECTIVE DATE:


This act shall take effect immediately.

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

                                  6975

                            I N  S E N A T E

                              April 9, 2014
                               ___________

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

AN ACT to legalize, validate, ratify and  confirm  the  actions  of  the
  village board of the village of Parish notwithstanding certain defects

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

  Section 1. Legislative findings.  The  legislature  hereby  finds  and
determines  that  the  village  of Parish, in the county of Oswego, duly
adopted bond resolutions dated July 7, 2009, December 15, 2010 and  June
20,  2012 in order to finance the construction of certain sewer improve-
ments within the village. The village subsequently  issued  bond  antic-
ipation notes for such purpose as follows:
  (a)  that  on October 15, 2009, the village issued a bond anticipation
note in the principal amount of $415,000; that the note matured and  was
first renewed on October 15, 2010 for $415,000; that a principal payment
on the note of $7,000 was made on the note on October 14, 2011; that the
note  matured  and  was  again renewed on October 14, 2011 for $408,000;
that on October 12, 2012 a principal payment of $7,000 was made  on  the
note;  that the remaining balance of $401,000 on the note was refinanced
with partial proceeds from  a  $768,175  short-term  Clean  Water  State
Revolving  Fund  (CWSRF) financing from the New York State Environmental
Facilities Corporation, (EFC) which closed on September 27, 2012; and
  (b) in connection with the September 27,  2012  EFC  short-term  CWSRF
financing,  the  village  entered into a Project Finance Agreement (PFA)
with EFC and issued a $768,175 bond anticipation note to EFC;  and  that
pursuant  to  the  provisions  of the PFA and section 23.00 of the local
finance law pertaining to the redemption of bond anticipation notes, the
village of Parish was required to make a principal  payment  on  October
11, 2013.
  With  respect  to  the EFC bond anticipation note and PFA described in
subdivision (b) of this section, the village of Parish was required  to,
but  failed to make,  on October 11, 2013, a scheduled principal payment
pursuant to applicable provisions of section 23.00 of the local  finance

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14570-01-4

S. 6975                             2

law  which  required  a  principal  payment  on the EFC CWSRF short-term
financing and bond anticipation note on that date.
  S 2. Notwithstanding any defects described in section one of this act,
or  the  fact  that  the  village board of the village of Parish, in the
county of Oswego, failed to comply with  the  applicable  provisions  of
section  23.00  of  the  local  finance law insofar as it failed to make
principal payments on the bond anticipation note, the bond  anticipation
notes  and renewals thereof issued by the village of parish described in
section one of this act, and all resolutions, acts and proceedings here-
tofore adopted or taken by the village board of such village in relation
thereto, are hereby validated, ratified, legalized and confirmed and any
principal payment thereafter made by such village in 2014  on  the  bond
anticipation  note  maturing on September 27, 2015 shall be deemed to be
in compliance with the requirements of the local finance law.
  S 3. Except as otherwise set forth in this act,  the  bonds  and  bond
anticipation  notes,  and  renewals thereof, issued pursuant to this act
shall be issued in accordance with the provisions of the  local  finance
law.
  S  4. If any clause, sentence, subdivision, paragraph, section or part
of this act be adjudged by any court of  competent  jurisdiction  to  be
invalid,  such  judgement  shall  not  affect,  impair or invalidate the
reminder thereof, but shall be confined in its operation to the  clause,
sentence,  subdivision,  paragraph,  section  or  part  thereof directly
involved in the controversy in  which  such  judgment  shall  have  been
rendered.
  S 5. This act shall take effect immediately.

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