Senate Bill S6411A

Signed By Governor
2019-2020 Legislative Session

Relates to financing project costs for the project for the Battery Park project area

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Sponsored By

Archive: Last Bill Status Via A8122 - 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-S6411 - Details

See Assembly Version of this Bill:
A8122
Law Section:
Public Authorities Law
Laws Affected:
Amd §1977-a, Pub Auth L

2019-S6411 - Summary

Relates to financing project costs for the project for the Battery Park project area.

2019-S6411 - Sponsor Memo

2019-S6411 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6411
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                               June 7, 2019
                                ___________
 
 Introduced  by  Sen.  KAVANAGH  --  (at request of the Battery Park City
   Authority) -- read twice and ordered printed, and when printed  to  be
   committed to the Committee on Rules
 
 AN  ACT  to  amend the public authorities law, in relation to increasing
   financing for project costs of the Battery Park city authority

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph  (a)  of subdivision 1 of section 1977-a of the
 public authorities law, as amended by chapter 241 of the laws  of  1995,
 is amended to read as follows:
   (a) For the purpose of financing project costs for the project for the
 Battery  Park  project  area other than the financing of loans, advances
 and mortgage loans to housing companies  organized  to  provide  housing
 within  the Battery Park project area, the authority may issue bonds and
 notes in an aggregate principal amount at any one time  outstanding  not
 exceeding  [three  hundred] SIX HUNDRED FIFTY million dollars, excluding
 bonds and notes issued to refund outstanding bonds and notes.
   § 2. This act shall take effect immediately.
 
 
 
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09040-02-9

2019-S6411A (ACTIVE) - Details

See Assembly Version of this Bill:
A8122
Law Section:
Public Authorities Law
Laws Affected:
Amd §1977-a, Pub Auth L

2019-S6411A (ACTIVE) - Summary

Relates to financing project costs for the project for the Battery Park project area.

2019-S6411A (ACTIVE) - Sponsor Memo

2019-S6411A (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6411--A
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                               June 7, 2019
                                ___________
 
 Introduced  by  Sen.  KAVANAGH  --  (at request of the Battery Park City
   Authority) -- read twice and ordered printed, and when printed  to  be
   committed  to  the  Committee  on  Rules -- committee discharged, bill
   amended, ordered reprinted as amended and recommitted to said  commit-
   tee

 AN  ACT  to amend the public authorities law, in relation to the Battery
   Park city authority
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision 1 of section 1977-a of the public authorities
 law is amended by adding a new paragraph (f) to read as follows:
   (F) ADDITIONAL AUTHORIZATIONS. FOR THE PURPOSE  OF  FINANCING  CAPITAL
 COSTS  IN  CONNECTION  WITH  A  PROGRAM  OF INFRASTRUCTURE CONSTRUCTION,
 IMPROVEMENTS AND OTHER CAPITAL EXPENDITURES FOR THE  PROJECT  AREA,  THE
 AUTHORITY  MAY, IN ADDITION TO THE AUTHORIZATIONS CONTAINED ELSEWHERE IN
 THIS TITLE, BORROW MONEY BY ISSUING BONDS  AND  NOTES  IN  AN  AGGREGATE
 PRINCIPAL  AMOUNT  NOT  EXCEEDING  FIVE  HUNDRED MILLION DOLLARS, PLUS A
 PRINCIPAL AMOUNT OF BONDS OR NOTES ISSUED (I) TO FUND ANY  RELATED  DEBT
 SERVICE RESERVE FUND, (II) TO PROVIDE CAPITALIZED INTEREST, AND (III) TO
 PROVIDE FOR FEES AND OTHER CHARGES AND EXPENSES INCLUDING ANY UNDERWRIT-
 ERS'  DISCOUNTS,  RELATED TO THE ISSUANCE OF SUCH BONDS OR NOTES, ALL AS
 DETERMINED BY THE AUTHORITY, EXCLUDING BONDS AND NOTES ISSUED TO  REFUND
 OUTSTANDING BONDS AND NOTES ISSUED PURSUANT TO THIS SECTION.
   § 2. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09040-03-9

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