senate Bill S4384

Signed By Governor
2015-2016 Legislative Session

Relates to the sale of bonds and notes of the city of Buffalo

download bill text pdf

Sponsored By

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

view actions (15)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 30, 2015 signed chap.44
Jun 29, 2015 delivered to governor
Jun 15, 2015 returned to senate
passed assembly
home rule request
ordered to third reading rules cal.242
substituted for a5975
Jun 09, 2015 referred to ways and means
delivered to assembly
passed senate
home rule request
May 18, 2015 advanced to third reading
May 13, 2015 2nd report cal.
May 12, 2015 1st report cal.614
Mar 18, 2015 referred to local government

S4384 (ACTIVE) - Details

See Assembly Version of this Bill:
A5975
Law Section:
Local Finance Law
Laws Affected:
Amd §54.30, Loc Fin L
Versions Introduced in 2013-2014 Legislative Session:
S6461, A8613

S4384 (ACTIVE) - Summary

Relates to the sale of bonds and notes of the city of Buffalo.

S4384 (ACTIVE) - Sponsor Memo

S4384 (ACTIVE) - Bill Text download pdf

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

                                  4384

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                             March 18, 2015
                               ___________

Introduced  by  Sen.  RANZENHOFER -- 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 Buffalo

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

  Section 1. Section 54.30 of the local finance law, as amended by chap-
ter 72 of the laws of 2014, is amended to read as follows:
  S 54.30 Costs of sales; bonds  and  notes  of  the  city  of  Buffalo.
Subject  to the provisions of chapter one hundred twenty-two of the laws
of two thousand three creating the Buffalo fiscal  stability  authority,
to facilitate the marketing of any issue of serial bonds or notes of the
city  of  Buffalo  issued  on  or  before  June  thirtieth, two thousand
[fifteen] SIXTEEN, such city 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 nego-
tiated  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 of 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 negotiated 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 article.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09477-01-5

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