senate Bill S3405

Signed By Governor
2019-2020 Legislative Session

Relates to bonds and notes of the city of Yonkers

download bill text pdf

Sponsored By

Current 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
Jul 03, 2019 signed chap.71
Jun 28, 2019 delivered to governor
Jun 18, 2019 returned to senate
passed assembly
home rule request
ordered to third reading rules cal.341
substituted for a3845a
Jun 11, 2019 referred to cities
delivered to assembly
passed senate
home rule request
May 22, 2019 advanced to third reading
May 21, 2019 2nd report cal.
May 20, 2019 1st report cal.788
Feb 06, 2019 referred to local government

Votes

view votes

May 20, 2019 - Local Government committee Vote

S3405
7
0
committee
7
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Local Government committee vote details

Local Government Committee Vote: May 20, 2019

S3405 (ACTIVE) - Details

See Assembly Version of this Bill:
A3845
Law Section:
Local Finance Law
Laws Affected:
Amd §54.40, Loc Fin L
Versions Introduced in Other Legislative Sessions:
2015-2016: A8659
2017-2018: S7352, A4324, A6389

S3405 (ACTIVE) - Summary

Relates to bonds and notes of the city of Yonkers.

S3405 (ACTIVE) - Sponsor Memo

S3405 (ACTIVE) - Bill Text download pdf


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

                                  3405

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            February 6, 2019
                               ___________

Introduced  by  Sen.  STEWART-COUSINS -- 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 bonds and notes of
  the city of Yonkers

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

  Section 1. Section 54.40 of the local finance law, as amended by chap-
ter 81 of the laws of 2018, is amended to read as follows:
  §  54.40  Bonds  and  notes  of  the  city  of Yonkers. Subject to the
provisions of the New York state financial  emergency  act  of  nineteen
hundred eighty-four for the city of Yonkers, to facilitate the marketing
of  any  issue of serial bonds or notes of the city of Yonkers issued on
or before June thirtieth, two thousand [nineteen] TWENTY, 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 negotiated 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.
  § 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05383-01-9

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