Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Nov 20, 2015 |
signed chap.435 |
Nov 10, 2015 |
delivered to governor |
Jun 17, 2015 |
returned to assembly repassed senate substituted for s5861 |
Jun 15, 2015 |
committed to rules returned to senate repassed assembly |
Jun 11, 2015 |
amended on third reading (t) 5651a |
Jun 11, 2015 |
vote reconsidered - restored to third reading returned to assembly recalled from senate |
Jun 01, 2015 |
referred to local government delivered to senate passed assembly |
May 29, 2015 |
advanced to third reading cal.491 |
May 27, 2015 |
reported |
May 19, 2015 |
reported referred to ways and means |
Mar 03, 2015 |
referred to corporations, authorities and commissions |
Assembly Bill A5651
Signed By Governor2015-2016 Legislative Session
Sponsored By
RUSSELL
Archive: Last Bill Status - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
Bill Amendments
co-Sponsors
Rebecca Seawright
2015-A5651 - Details
- Law Section:
- Public Authorities Law
- Laws Affected:
- Add §736, rpld §706, Pub Auth L
- Versions Introduced in 2013-2014 Legislative Session:
-
A9629
2015-A5651 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5651 2015-2016 Regular Sessions I N A S S E M B L Y March 3, 2015 ___________ Introduced by M. of A. RUSSELL -- read once and referred to the Commit- tee on Corporations, Authorities and Commissions AN ACT to amend the public authorities law, in relation to bonds of the Ogdensburg Bridge Authority; and to repeal section 706 of the public authorities law relating thereto THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The public authorities law is amended by adding a new section 736 to read as follows: S 736. BONDS OF THE AUTHORITY. 1. THE AUTHORITY SHALL HAVE THE POWER AND IS HEREBY AUTHORIZED FROM TIME TO TIME TO ISSUE BONDS, NOTES OR OTHER OBLIGATIONS TO PAY THE COST OF ANY PROJECT OR FOR ANY OTHER CORPO- RATE PURPOSE, INCLUDING THE ESTABLISHMENT OF RESERVES TO SECURE BONDS, THE PAYMENT OF PRINCIPAL OF, PREMIUM, IF ANY, AND INTEREST ON THE BONDS AND THE PAYMENT OF INCIDENTAL EXPENSES IN CONNECTION THEREWITH. THE AGGREGATE PRINCIPAL AMOUNT OF SUCH BONDS, NOTES OR OTHER OBLIGATIONS SHALL NOT EXCEED ONE HUNDRED MILLION DOLLARS, EXCLUDING BONDS, NOTES OR OTHER OBLIGATIONS ISSUED TO REFUND OR OTHERWISE REPAY BONDS, NOTES OR OTHER OBLIGATIONS THEREFORE ISSUED FOR SUCH PURPOSES; PROVIDED, HOWEVER, THAT UPON ANY SUCH REFUNDING OR REPAYMENT OF THE TOTAL AGGREGATE PRINCI- PAL AMOUNT OF OUTSTANDING BONDS, NOTES OR OTHER OBLIGATIONS MAY BE GREATER THAN ONE HUNDRED MILLION DOLLARS ONLY IF THE PRESENT VALUE OF THE AGGREGATE DEBT SERVICE OF THE FUNDING OR REPAYMENT BONDS, NOTES OR OTHER OBLIGATIONS TO BE ISSUED SHALL NOT EXCEED THE PRESENT VALUE OF THE AGGREGATE DEBT SERVICE OF THE BONDS, NOTES OR OTHER OBLIGATIONS TO BE REFUNDED OR REPAID. FOR PURPOSES OF THIS SECTION, THE PRESENT VALUES OF THE AGGREGATE DEBT SERVICE OF THE REFUNDING OR REPAYMENT BONDS, NOTES OR OTHER OBLIGATIONS AND OF THE AGGREGATE DEBT SERVICE OF THE BONDS, NOTES OR OTHER OBLIGATIONS SO REFUNDED OR REPAID, SHALL BE CALCULATED BY UTILIZING THE EFFECTIVE INTEREST RATE OF THE REFUNDING OR REPAYMENT BONDS, NOTES OR OTHER OBLIGATIONS, WHICH SHALL BE THAT RATE ARRIVED AT EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09649-01-5
co-Sponsors
Rebecca Seawright
2015-A5651A (ACTIVE) - Details
- Law Section:
- Public Authorities Law
- Laws Affected:
- Add §736, rpld §706, Pub Auth L
- Versions Introduced in 2013-2014 Legislative Session:
-
A9629
2015-A5651A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5651--A Cal. No. 491 2015-2016 Regular Sessions I N A S S E M B L Y March 3, 2015 ___________ Introduced by M. of A. RUSSELL, SEAWRIGHT -- read once and referred to the Committee on Corporations, Authorities and Commissions -- reported and referred to the Committee on Ways and Means -- passed by Assembly and delivered to the Senate, recalled from the Senate, vote reconsid- ered, bill amended, ordered reprinted, retaining its place on the order of third reading AN ACT to amend the public authorities law, in relation to the powers of the Ogdensburg bridge authority and the Ogdensburg port authority THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivisions 1 and 3 of section 706 of the public authori- ties law, subdivision 1 as amended by chapter 972 of the laws of 1969, subdivision 3 as amended by chapter 809 of the laws of 1968, are amended to read as follows: 1. The authority shall have power and is hereby authorized from time to time to issue its negotiable bonds in conformity with applicable provisions of the uniform commercial code in such amount as may be necessary to pay the cost of the bridge and approach roads herein authorized and the cost of all land, property, rights, easements and franchises deemed necessary for the construction thereof, and to pay interest prior to and during construction and for one year after completion of construction, FOR RECONSTRUCTION AND UPGRADES TO THE BRIDGE, the purchase price of the ferry or ferries authorized to be acquired, the repayment of any advances or appropriations made by the state of New York to the authority and such other expenses as may be deemed necessary or incident to the financing and to the construction of the bridge and approach roads, and to placing the same in operation, AND INFRASTRUCTURE, UPGRADE AND EXPANSION AT THE OGDENSBURG INTERNATIONAL AIRPORT. 3. The bonds shall be authorized by resolution of the board. The bonds shall be dated, shall bear interest at such rate or rates not EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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