Senate Bill S4197B

Signed By Governor
2019-2020 Legislative Session

Relates to the sale, issuance and refund of bonds and notes of New York city

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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

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Bill Amendments

2019-S4197 - Details

See Assembly Version of this Bill:
A6293
Law Section:
Local Finance Law
Laws Affected:
Amd §§54.10, 54.90, 57.00, 90.00 & 107.00, Loc Fin L; amd §10-a, §2 of Chap 868 of 1975; amd §5, Chap 142 of 2004
Versions Introduced in 2021-2022 Legislative Session:
S6610, A7398

2019-S4197 - Summary

Relates to the sale of bonds and notes of the city of New York, the issuance of bonds or notes with variable rates of interest, interest rate exchange agreements of the city of New York, the refunding of bonds, and the down payment for projects financed by bonds; amends the New York state financial emergency act for the city of New York; makes further amendments relating to the effectiveness thereof.

2019-S4197 - Sponsor Memo

2019-S4197 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4197
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                               March 4, 2019
                                ___________
 
 Introduced  by  Sen. JACKSON -- 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 issuance of bonds or notes with
   variable  rates  of interest, interest rate exchange agreements of the
   city of New York, the refunding of bonds, and  the  down  payment  for
   projects  financed  by  bonds;  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 refunding 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 91 of the laws of 2018,  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 [nineteen]
 TWENTY-TWO, 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:
   § 2. The closing paragraph of paragraph a  of  section  54.90  of  the
 local  finance  law,  as  amended  by chapter 91 of the laws of 2018, is
 amended to read as follows:
   Notwithstanding the foregoing, whenever in the judgment of the finance
 board of the city of New York the interest of such city would be  served
 thereby,  the  city of New York may without further approval issue bonds
 or notes, on or before July fifteenth, two thousand  [nineteen]  TWENTY-
 TWO,  with  interest  rates  that  vary  in accordance with a formula or
 procedure and are subject to a maximum rate of  interest  set  forth  or
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

2019-S4197A - Details

See Assembly Version of this Bill:
A6293
Law Section:
Local Finance Law
Laws Affected:
Amd §§54.10, 54.90, 57.00, 90.00 & 107.00, Loc Fin L; amd §10-a, §2 of Chap 868 of 1975; amd §5, Chap 142 of 2004
Versions Introduced in 2021-2022 Legislative Session:
S6610, A7398

2019-S4197A - Summary

Relates to the sale of bonds and notes of the city of New York, the issuance of bonds or notes with variable rates of interest, interest rate exchange agreements of the city of New York, the refunding of bonds, and the down payment for projects financed by bonds; amends the New York state financial emergency act for the city of New York; makes further amendments relating to the effectiveness thereof.

2019-S4197A - Sponsor Memo

2019-S4197A - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4197--A
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                               March 4, 2019
                                ___________
 
 Introduced  by  Sen. JACKSON -- read twice and ordered printed, and when
   printed to be committed  to  the  Committee  on  Local  Government  --
   committee  discharged,  bill amended, ordered reprinted as amended and
   recommitted to said committee
 
 AN ACT to amend the local finance law, in relation to the sale of  bonds
   and notes of the city of New York, the issuance of bonds or notes with
   variable  rates  of interest, interest rate exchange agreements of the
   city of New York, the refunding of bonds, and  the  down  payment  for
   projects  financed  by  bonds;  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 refunding 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 91 of the laws of 2018,  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 [nineteen]
 TWENTY-TWO, 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:
   § 2. The closing paragraph of paragraph a  of  section  54.90  of  the
 local  finance  law,  as  amended  by chapter 91 of the laws of 2018, is
 amended to read as follows:
   Notwithstanding the foregoing, whenever in the judgment of the finance
 board of the city of New York the interest of such city would be  served
 thereby,  the  city of New York may without further approval issue bonds
 or notes, on or before July fifteenth, two thousand  [nineteen]  TWENTY-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

2019-S4197B (ACTIVE) - Details

See Assembly Version of this Bill:
A6293
Law Section:
Local Finance Law
Laws Affected:
Amd §§54.10, 54.90, 57.00, 90.00 & 107.00, Loc Fin L; amd §10-a, §2 of Chap 868 of 1975; amd §5, Chap 142 of 2004
Versions Introduced in 2021-2022 Legislative Session:
S6610, A7398

2019-S4197B (ACTIVE) - Summary

Relates to the sale of bonds and notes of the city of New York, the issuance of bonds or notes with variable rates of interest, interest rate exchange agreements of the city of New York, the refunding of bonds, and the down payment for projects financed by bonds; amends the New York state financial emergency act for the city of New York; makes further amendments relating to the effectiveness thereof.

2019-S4197B (ACTIVE) - Sponsor Memo

2019-S4197B (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4197--B
     Cal. No. 793
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                               March 4, 2019
                                ___________
 
 Introduced  by  Sen. JACKSON -- read twice and ordered printed, and when
   printed to be committed  to  the  Committee  on  Local  Government  --
   committee  discharged,  bill amended, ordered reprinted as amended and
   recommitted to said committee -- reported favorably from said  commit-
   tee,  ordered  to first and second report, ordered to a third reading,
   passed by Senate and delivered to the Assembly, recalled, vote  recon-
   sidered,  restored  to  third  reading, amended and ordered reprinted,
   retaining its place in the order of third reading
 
 AN ACT to amend the local finance law, in relation to the sale of  bonds
   and notes of the city of New York, the issuance of bonds or notes with
   variable  rates  of interest, interest rate exchange agreements of the
   city of New York, the refunding of bonds, and  the  down  payment  for
   projects  financed  by  bonds;  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 refunding 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 91 of the laws of 2018,  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 [nineteen]
 TWENTY, 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:
   § 2. The closing paragraph of paragraph a  of  section  54.90  of  the
 local  finance  law,  as  amended  by chapter 91 of the laws of 2018, is
 amended to read as follows:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

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