S T A T E O F N E W Y O R K
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11157
I N A S S E M B L Y
June 11, 2018
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Introduced by COMMITTEE ON RULES -- (at request of M. of A. Stec) --
read once and referred to the Committee on Local Governments
AN ACT to legalize, validate, ratify and confirm certain acts and
proceedings of the town board of the town of Thurman, Warren county,
New York, in relation to the issuance of obligations for the financing
of alternate water supply systems for five homes as required by a
consent order of the department of environmental conservation and also
for a municipal building
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Legislative findings. It is hereby found and determined:
(a) that the town board of the town of Thurman, county of Warren, has
heretofore adopted a bond resolution dated December 27, 2016 and has
issued a bond anticipation note pursuant to such bond resolution for the
undertaking of the installation of water supply systems for five homes
pursuant to a consent order of the department of environmental conserva-
tion and for a municipal building;
(b) that the town board of the town of Thurman, county of Warren, has
heretofore adopted a bond resolution dated December 27, 2016 and has
issued a bond anticipation note in the principal amount of $313,000 on
May 31, 2017 pursuant to such bond resolution for the undertaking of
such improvements;
(c) that the principal payment made by the town on the $313,000 bond
anticipation note is described as follows: $13,000 on May 31, 2018 leav-
ing $300,000 in principal outstanding and overdue; and
(d) that the town failed to obtain the permission of the state comp-
troller pursuant to paragraph 3 of section 104.10 of the local finance
law prior to the issuance of the bond anticipation note issued pursuant
to the bond resolution dated December 27, 2016.
§ 2. Notwithstanding the defects described in section one of this act,
the bond anticipation notes issued by the town in anticipation of the
bonds authorized pursuant to the bond resolution identified in section
one of this act, and all disbursements made in connection with the afor-
esaid bond anticipation notes, or resolutions, acts and proceedings
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD16234-01-8
A. 11157 2
adopted or taken by the board in relation thereto, are hereby validated,
ratified and confirmed. The town is hereby authorized to issue bonds or
bond anticipation renewal notes to continue financing the objects and
purposes authorized pursuant to the aforesaid bond resolutions over the
period of probable usefulness thereof as set forth in section 11.00 of
the local finance law.
§ 3. Except as otherwise provided in this act, any obligations issued
pursuant to this act shall be issued in accordance with the provisions
of the local finance law.
§ 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 judgment shall not affect, impair or invalidate the
remainder 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.
§ 5. This act shall take effect immediately.