Senate Bill S4037

Signed By Governor
2023-2024 Legislative Session

Relates to the Livingston county water and sewer authority

download bill text pdf

Sponsored By

Current Bill Status Via A4092 - 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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2023-S4037 (ACTIVE) - Details

See Assembly Version of this Bill:
A4092
Law Section:
Public Authorities Law
Laws Affected:
Amd §1199-gggg, Pub Auth L

2023-S4037 (ACTIVE) - Summary

Increases the bond authority of the Livingston county water and sewer authority from $42,000,000 to $70,000,000.

2023-S4037 (ACTIVE) - Sponsor Memo

2023-S4037 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4037
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 2, 2023
                                ___________
 
 Introduced  by  Sen. HELMING -- read twice and ordered printed, and when
   printed to be committed to the Committee on Corporations,  Authorities
   and Commissions
 
 AN  ACT  to amend the public authorities law, in relation to the Living-
   ston county water and sewer 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 1199-gggg of the public authori-
 ties law, as amended by chapter 412 of the laws of 1995, is  amended  to
 read as follows:
   1.  The  authority  shall have the power and is hereby authorized from
 time to time to issue bonds, notes or other obligations to pay the  cost
 of  any project or for any other corporate purpose, including the estab-
 lishment of reserves to secure the bonds, the payment of  principal  of,
 premium, if any, and interest on the bonds and the payment of incidental
 expenses  in  connection  therewith.   The aggregate principal amount of
 such bonds, notes or other  obligations  shall  not  exceed  [forty-two]
 SEVENTY  million dollars [($42,000,000)] ($70,000,000), excluding bonds,
 notes or other obligations issued to refund or  otherwise  repay  bonds,
 notes   or  other  obligations  theretofore  issued  for  such  purposes
 provided, however, that upon any such refunding or repayment  the  total
 aggregate  principal  amount  of outstanding bonds, notes or other obli-
 gations  may  be  greater  than  [forty-two]  SEVENTY  million   dollars
 [($42,000,000)] ($70,000,000) only if the present value of the aggregate
 debt  service  of the refunding or repayment bonds, notes or other obli-
 gations to be issued shall not exceed the present value of the aggregate
 debt service of the bonds, notes or other obligations so to be  refunded
 or repaid. For purposes hereof, the present values of the aggregate debt
 service  of the refunding or repayment bonds, notes or other obligations
 and of the aggregate debt service of the bonds,  notes  or  other  obli-
 gations  and  of the aggregate debt service of the bonds, notes or other
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08690-01-3
              

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