Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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May 30, 2023 | advanced to third reading |
May 24, 2023 | 2nd report cal. |
May 23, 2023 | 1st report cal.1286 |
May 16, 2023 | reported and committed to finance |
Apr 12, 2023 | referred to corporations, authorities and commissions |
senate Bill S6292
Sponsored By
Timothy M. Kennedy
(D, WF) 63rd Senate District
Current Bill Status - On Floor Calendar
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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S6292 (ACTIVE) - Details
S6292 (ACTIVE) - Sponsor Memo
BILL NUMBER: S6292 SPONSOR: KENNEDY TITLE OF BILL: An act to amend the public authorities law, in relation to increasing the total amount of bonds the Buffalo sewer authority may issue PURPOSE OR GENERAL IDEA OF BILL: The purpose of this bill is to allow the Buffalo Sewer Authority to have bonds issued and outstanding at any one time shall not exceed in the aggregate the sum of five hundred million dollars. SUMMARY OF PROVISIONS: Section 1 provides that the Buffalo Sewer Authority may have bonds issued and outstanding at any one time not exceed in the aggregate the sum of $500 million dollars, excluding bonds or notes for the payment or redemption of which there has been set aside and held in trust either moneys, or direct and general obligations of, or obligations guaranteed by, the United States of America, or obligations secured by such obli-
S6292 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6292 2023-2024 Regular Sessions I N S E N A T E April 12, 2023 ___________ Introduced by Sen. KENNEDY -- 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 increasing the total amount of bonds the Buffalo sewer authority may issue THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 1187 of the public authorities law, as amended by chapter 244 of the laws of 2018, is amended to read as follows: 1. The authority shall have power and is hereby authorized from time to time to issue its negotiable bonds in conformity with applicable provisions of the uniform commercial code for any of its corporate purposes. The total amount of bonds issued and outstanding at any one time shall not exceed in the aggregate the sum of [two hundred fifty] FIVE HUNDRED million dollars, excluding bonds or notes for the payment or redemption of which there has been set aside and held in trust either moneys, or direct and general obligations of, or obligations guaranteed by, the United States of America, or obligations secured by such obli- gations, or any combination thereof, which are or will be sufficient to pay when due the principal or applicable redemption price and all accrued interest thereon and, if such bonds or notes are to be redeemed, for which notice of redemption has been given or satisfactory provision has been made for the giving of such notice. The authority shall have power from time to time, whenever it deems refunding expedient, to refund any bonds by the issuance of new bonds, whether the bonds to be refunded have or have not matured or are then subject to redemption, and may issue bonds partly to refund bonds then outstanding and partly for any of its corporate purposes. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01842-01-3
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