senate Bill S6465A

2019-2020 Legislative Session

Authorizes the city of Amsterdam, in the county of Montgomery, to finance a certain deficit by the issuance of bonds

download bill text pdf

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Current Bill Status - Passed Senate & Assembly


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (12)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 19, 2019 returned to senate
passed assembly
home rule request
ordered to third reading rules cal.479
substituted for a8284a
Jun 18, 2019 referred to ways and means
delivered to assembly
passed senate
ordered to third reading cal.1592
Jun 13, 2019 print number 6465a
Jun 13, 2019 amend and recommit to rules
Jun 12, 2019 referred to rules

S6465 - Details

See Assembly Version of this Bill:
A8284
Law Section:
Montgomery County

S6465 - Summary

Authorizes the city of Amsterdam, in the county of Montgomery, to finance a certain deficit by the issuance of bonds.

S6465 - Sponsor Memo

S6465 - Bill Text download pdf


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

                                  6465

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                              June 12, 2019
                               ___________

Introduced  by  Sen. AMEDORE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

AN ACT to authorize the city of Amsterdam, in the county of  Montgomery,
  to finance a certain deficit by the issuance of bonds

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

  Section 1. The city of Amsterdam, in  the  county  of  Montgomery,  is
hereby  authorized to issue serial bonds on or after March 1, 2019 in an
aggregate principal amount not to exceed  eight  million  three  hundred
thousand  dollars  ($8,300,000)  for  the  specific object or purpose of
liquidating the cumulative deficits in the general fund, the transporta-
tion fund, the sewer fund and recreation fund of such  city  accumulated
during  fiscal  years  ending  June 30, 2008 through 2018, inclusive. In
anticipation of the issuance of the bonds authorized  to  be  issued  by
this  act,  the  issuance and sale of bond anticipation notes are hereby
authorized.
  § 2. Notwithstanding any provision of this act to  the  contrary,  the
city of Amsterdam shall not issue any bonds for the purpose of liquidat-
ing the aforesaid cumulative deficits unless and until the amounts ther-
eof  are  reviewed  and determined by the state comptroller. The city of
Amsterdam shall prepare a report detailing the amount and cause of  such
deficits  and  submit  such  report together with the city's independent
audit report for its last completed  fiscal  year,  if  any  such  audit
report  has been or is to be prepared, and such other information as the
state comptroller may deem necessary, to the state comptroller, as  well
as  the chairs of the senate finance committee and the assembly ways and
means committee, at least thirty days prior to the issuance of any bonds
pursuant to this act.
  Within thirty days after receiving such report, the state  comptroller
shall  perform such reviews as may be necessary to determine the amounts
of such deficits and report the same to the chairs of the senate finance

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

S6465A (ACTIVE) - Details

See Assembly Version of this Bill:
A8284
Law Section:
Montgomery County

S6465A (ACTIVE) - Summary

Authorizes the city of Amsterdam, in the county of Montgomery, to finance a certain deficit by the issuance of bonds.

S6465A (ACTIVE) - Sponsor Memo

S6465A (ACTIVE) - Bill Text download pdf


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

                                 6465--A

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                              June 12, 2019
                               ___________

Introduced  by  Sen. AMEDORE -- 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 committee

AN  ACT to authorize the city of Amsterdam, in the county of Montgomery,
  to finance a certain deficit by the issuance of bonds

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

  Section  1.  The  city  of  Amsterdam, in the county of Montgomery, is
hereby authorized to issue serial bonds on or after March 1, 2019 in  an
aggregate  principal  amount  not  to exceed eight million three hundred
thousand dollars ($8,300,000) for the  specific  object  or  purpose  of
liquidating the cumulative deficits in the general fund, the transporta-
tion  fund,  the sewer fund and recreation fund of such city accumulated
during fiscal years ending June 30, 2008  through  2018,  inclusive.  In
anticipation  of  the  issuance  of the bonds authorized to be issued by
this act, the issuance and sale of bond anticipation  notes  are  hereby
authorized.
  §  2.  Notwithstanding  any provision of this act to the contrary, the
city of Amsterdam shall not issue any bonds for the purpose of liquidat-
ing the aforesaid cumulative deficits unless and until the amounts ther-
eof are reviewed and determined by the state comptroller.  The  city  of
Amsterdam  shall prepare a report detailing the amount and cause of such
deficits and submit such report together  with  the  city's  independent
audit  report  for  its  last  completed  fiscal year, if any such audit
report has been or is to be prepared, and such other information as  the
state  comptroller may deem necessary, to the state comptroller, as well
as the chairs of the senate finance committee and the assembly ways  and
means committee, at least thirty days prior to the issuance of any bonds
pursuant to this act.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13334-03-9

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