senate Bill S4911

Signed By Governor
2019-2020 Legislative Session

Relates to the sale of bonds and notes of the city of Buffalo

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.77
Jun 28, 2019 delivered to governor
Jun 18, 2019 returned to senate
passed assembly
home rule request
ordered to third reading rules cal.351
substituted for a5166
Jun 11, 2019 referred to cities
delivered to assembly
passed senate
home rule request
May 08, 2019 advanced to third reading
May 07, 2019 2nd report cal.
May 06, 2019 1st report cal.574
Mar 29, 2019 referred to local government

Votes

view votes

May 6, 2019 - Local Government committee Vote

S4911
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 6, 2019

S4911 (ACTIVE) - Details

See Assembly Version of this Bill:
A5166
Law Section:
Local Finance Law
Laws Affected:
Amd §54.30, Loc Fin L
Versions Introduced in 2017-2018 Legislative Session:
S8010, A9895

S4911 (ACTIVE) - Summary

Relates to the sale of bonds and notes of the city of Buffalo.

S4911 (ACTIVE) - Sponsor Memo

S4911 (ACTIVE) - Bill Text download pdf


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

                                  4911

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                             March 29, 2019
                               ___________

Introduced  by  Sen. KENNEDY -- 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 Buffalo

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

  Section 1. Section 54.30 of the local finance law, as amended by chap-
ter 105 of the laws of 2018, is amended to read as follows:
  § 54.30 Costs of sales; bonds  and  notes  of  the  city  of  Buffalo.
Subject  to the provisions of chapter one hundred twenty-two of the laws
of two thousand three creating the Buffalo fiscal  stability  authority,
to facilitate the marketing of any issue of serial bonds or notes of the
city  of Buffalo issued on or before June thirtieth, two thousand [nine-
teen] 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 negoti-
ated 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.
                                                           LBD04228-01-9

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