assembly Bill A9365

Signed By Governor
2021-2022 Legislative Session

Provides for the sale of municipal obligations by the county of Erie

download bill text pdf

Sponsored By

Archive: Last Bill Status Via S8129 - Signed by Governor

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

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view actions (13)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 30, 2022 signed chap.329
Jun 23, 2022 delivered to governor
Jun 01, 2022 returned to senate
passed assembly
home rule request
May 31, 2022 ordered to third reading rules cal.472
substituted for a9365
May 31, 2022 substituted by s8129
rules report cal.472
May 25, 2022 reported referred to rules
reported referred to ways and means
Feb 23, 2022 referred to local governments

A9365 (ACTIVE) - Details

See Senate Version of this Bill:
Law Section:
Local Finance Law
Laws Affected:
Amd §54.50, Loc Fin L
Versions Introduced in 2023-2024 Legislative Session:

A9365 (ACTIVE) - Summary

Extends provisions providing for the sale of municipal obligations by the county of Erie.

A9365 (ACTIVE) - Bill Text download pdf

                     S T A T E   O F   N E W   Y O R K
                           I N  A S S E M B L Y
                             February 23, 2022
 Introduced  by  M. of A. PEOPLES-STOKES -- read once and referred to the
   Committee on Local Governments
 AN ACT to amend the local finance law, in relation to the sale of munic-
   ipal obligations by the county of Erie

   Section 1. Section 54.50 of the local finance law, as amended by chap-
 ter 171 of the laws of 2021, is amended to read as follows:
   § 54.50 Costs of sales; county of Erie. To facilitate the marketing of
 any  issue  of  serial bonds or notes of the county of Erie issued on or
 before June thirtieth, two thousand [twenty-two] TWENTY-THREE such coun-
 ty 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 negotiated 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 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 negoti-
 ated 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
 [chapter] ARTICLE.
   § 2. This act shall take effect immediately.
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.