senate Bill S7185

Signed By Governor
2013-2014 Legislative Session

Relates to the sale of bonds and notes in NYC, the refunding of bonds, the down payment for projects financed by bonds, variable rate debt, and interest rate exchange agreements in NYC

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A9463 - Signed by Governor


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

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Actions

view actions (11)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 30, 2014 signed chap.66
delivered to governor
Jun 20, 2014 returned to assembly
passed senate
3rd reading cal.1673
substituted for s7185
Jun 20, 2014 substituted by a9463
ordered to third reading cal.1673
committee discharged and committed to rules
Jun 03, 2014 reported and committed to finance
May 02, 2014 referred to local government

Votes

view votes

Jun 20, 2014 - Rules committee Vote

S7185
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

S7185
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

S7185 - Details

See Assembly Version of this Bill:
A9463
Law Section:
Local Finance Law
Laws Affected:
Amd §§54.10, 57.00, 90.00, 107.00 & 54.90, Loc Fin L; amd §10-A, §2 of Chap 868 of 1975; amd §5, Chap 142 of 2004

S7185 - Summary

Relates to the sale of bonds and notes in NYC, the refunding of bonds, the down payment for projects financed by bonds, variable rate debt, and interest rate exchange agreements in NYC.

S7185 - Sponsor Memo

S7185 - Bill Text download pdf

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

                                  7185

                            I N  S E N A T E

                               May 2, 2014
                               ___________

Introduced  by  Sen.  GOLDEN -- 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  bonds
  and  notes  of  the city of New York, the refunding of bonds, the down
  payment for projects financed by bonds, variable rate debt, and inter-
  est rate exchange agreements of the city of New York; to amend the New
  York state financial emergency act, for  the  city  of  New  York,  in
  relation  to a pledge and agreement of the state; and to amend chapter
  142 of the laws of 2004, amending the local finance  law  relating  to
  interest  rate exchange agreements of the city of New York and refund-
  ing bonds of such city, in relation to the effectiveness thereof

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

  Section  1. The opening paragraph of paragraph (a) of section 54.10 of
the local finance law, as amended by chapter 79 of the laws of 2013,  is
amended to read as follows:
  To facilitate the marketing of any issue of bonds or notes of the city
of  New York issued on or before June thirtieth, two thousand [fourteen]
FIFTEEN, the mayor and comptroller of such  city  may,  subject  to  the
approval  of  the state comptroller and the limitations on private sales
of bonds and notes, respectively, provided by law:
  S 2. The opening paragraph of paragraph a  of  section  57.00  of  the
local  finance  law,  as  amended  by chapter 79 of the laws of 2013, is
amended to read as follows:
  Bonds shall be sold only at public sale and  in  accordance  with  the
procedure set forth in this section and sections 58.00 and 59.00 of this
title, except as otherwise provided in this paragraph. Bonds may be sold
at private sale to the United States government or any agency or instru-
mentality  thereof, the state of New York municipal bond bank agency, to
any sinking fund or pension fund of the municipality, school district or
district corporation selling such bonds, or, in the case of sales by the
city of New York prior to July first, two thousand  [fourteen]  FIFTEEN,
also to the municipal assistance corporation for the city of New York or
to any other purchaser with the consent of the mayor and the comptroller

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

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