senate Bill S1033

Signed By Governor
2021-2022 Legislative Session

Relates to bonds and notes of the city of Yonkers

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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view actions (16)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 29, 2021 signed chap.168
Jun 17, 2021 delivered to governor
Jun 07, 2021 returned to senate
passed assembly
home rule request
ordered to third reading rules cal.415
substituted for a1724
Jun 01, 2021 referred to cities
delivered to assembly
passed senate
home rule request
May 10, 2021 advanced to third reading
May 05, 2021 2nd report cal.
May 04, 2021 1st report cal.891
Feb 05, 2021 committee discharged and committed to cities 2
Jan 06, 2021 referred to local government

S1033 (ACTIVE) - Details

See Assembly Version of this Bill:
Law Section:
Local Finance Law
Laws Affected:
Amd §54.40, Loc Fin L
Versions Introduced in 2019-2020 Legislative Session:
S7153, A9739

S1033 (ACTIVE) - Summary

Relates to bonds and notes of the city of Yonkers.

S1033 (ACTIVE) - Sponsor Memo

S1033 (ACTIVE) - Bill Text download pdf

                     S T A T E   O F   N E W   Y O R K
                        2021-2022 Regular Sessions
                             I N  S E N A T E
                              January 6, 2021
 Introduced  by  Sen.  STEWART-COUSINS -- 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 bonds and notes of
   the city of Yonkers
   Section  1.  Section  54.40  of  the  local finance law, as amended by
 section 1 of item GG of subpart B of part XXX of chapter 58 of the  laws
 of 2020, is amended to read as follows:
   §  54.40  Bonds  and  notes  of  the  city  of Yonkers. Subject to the
 provisions of the New York state financial  emergency  act  of  nineteen
 hundred eighty-four for the city of Yonkers, to facilitate the marketing
 of  any  issue of serial bonds or notes of the city of Yonkers issued on
 or before June thirtieth, two  thousand  [twenty-one]  TWENTY-TWO,  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 negotiated agreement, compen-
 sation 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.


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