Senate Bill S4520

2019-2020 Legislative Session

Relates to the final maturity of bonds issued for the purpose of financing amounts deposited into the water pollution control revolving fund

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Archive: Last Bill Status - In Senate Committee Finance Committee

  • 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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2019-S4520 (ACTIVE) - Details

See Assembly Version of this Bill:
A6316
Current Committee:
Senate Finance
Law Section:
Public Authorities Law
Laws Affected:
Amd §1290, Pub Auth L

2019-S4520 (ACTIVE) - Summary

Relates to the final maturity of bonds issued for the purpose of financing amounts deposited into the water pollution control revolving fund.

2019-S4520 (ACTIVE) - Sponsor Memo

2019-S4520 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4520
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                              March 14, 2019
                                ___________
 
 Introduced  by Sen. HARCKHAM -- read twice and ordered printed, and when
   printed to be committed to the Committee on Corporations,  Authorities
   and Commissions
 
 AN  ACT  to  amend  the public authorities law, in relation to the water
   pollution control revolving fund
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision  2  of section 1290 of the public authorities
 law, as amended by chapter 55 of the laws of 1992, is amended to read as
 follows:
   2. The notes and bonds shall be authorized by resolution of the direc-
 tors of the corporation, shall bear such date or dates, and shall mature
 at such time or times, in the case of any  such  note  or  any  renewals
 thereof  not  exceeding  twelve  years  from  the  date of issue of such
 original note, and in the case of any  such  bond  not  exceeding  forty
 years  from  the  date  of  issue, as such resolution or resolutions may
 provide[; provided, however, that the final maturity of any bond  issued
 for the purpose of financing any amounts deposited or to be deposited by
 the state in the water pollution control revolving fund shall not exceed
 thirty  years  from the date of issue of such bond]. The notes and bonds
 shall bear interest at such rate or rates which may vary  from  time  to
 time, be in such denominations, be in such form, either coupon or regis-
 tered,  carry  such registration privileges, be executed in such manner,
 be payable in such medium of payment, at such place  or  places  and  be
 subject  to  such  terms of redemption as such resolution or resolutions
 may provide. The notes and bonds of the corporation may be sold  by  the
 corporation,  at  public or private sale, at such price or prices as the
 corporation shall determine. No notes or bonds of the corporation may be
 sold by the corporation at private sale, however, unless such  sale  and
 the  terms thereof have been approved in writing by (a) the comptroller,
 where such sale is not to the comptroller, or (b) the  director  of  the
 budget, where such sale is to the comptroller.
   § 2. This act shall take effect immediately.

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