senate Bill S4197A

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
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

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Actions

view actions (22)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jul 03, 2019 signed chap.75
Jun 28, 2019 delivered to governor
Jun 19, 2019 returned to senate
passed assembly
ordered to third reading rules cal.451
substituted for a6293b
Jun 17, 2019 referred to ways and means
returned to assembly
repassed senate
Jun 14, 2019 amended on third reading 4197b
Jun 14, 2019 vote reconsidered - restored to third reading
returned to senate
recalled from assembly
May 30, 2019 referred to cities
delivered to assembly
passed senate
May 22, 2019 advanced to third reading
May 21, 2019 2nd report cal.
May 20, 2019 1st report cal.793
Apr 01, 2019 print number 4197a
Apr 01, 2019 amend and recommit to local government
Mar 04, 2019 referred to local government

Votes

view votes

May 20, 2019 - Local Government committee Vote

S4197A
5
1
committee
5
Aye
1
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Local Government committee vote details

Local Government Committee Vote: May 20, 2019

nay (1)
aye wr (1)

S4197 - Details

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

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.

S4197 - Sponsor Memo

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.

S4197A - Details

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

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.

S4197A - Sponsor Memo

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.

S4197B (ACTIVE) - Details

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

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.

S4197B (ACTIVE) - Sponsor Memo

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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