|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|May 30, 2023||ordered to third reading cal.1390|
committee discharged and committed to rules
|May 23, 2023||reported and committed to finance|
|Apr 26, 2023||referred to cities 2|
senate Bill S6564
Current Bill Status - On Floor Calendar
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S6564 (ACTIVE) - Details
S6564 (ACTIVE) - Sponsor Memo
BILL NUMBER: S6564 SPONSOR: KENNEDY TITLE OF BILL: An act to amend the local finance law, in relation to facilitating the marketing of any issue of serial bonds or notes of the city of Buffalo issued on or before a certain date PURPOSE OR GENERAL IDEA OF BILL: The purpose of this bill is to extend the authorization for the private sale of bonds and notes of the city of from Buffalo June 30, 2023 to June 30, 2024. SUMMARY OF PROVISIONS: Section 1 amends section 54.50 of the local finance law to extend the provisions of this section from June 30, 2023 to June 30, 2024. This is simply a one-year extender of existing law to allow the City of Buffalo to sell its bonds at private sale.
S6564 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6564 2023-2024 Regular Sessions I N S E N A T E April 26, 2023 ___________ Introduced by Sen. KENNEDY -- read twice and ordered printed, and when printed to be committed to the Committee on Cities 2 AN ACT to amend the local finance law, in relation to facilitating the marketing of any issue of serial bonds or notes of the city of Buffalo issued on or before a certain date THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 54.30 of the local finance law, as amended by chap- ter 330 of the laws of 2022, is amended to read as follows: § 54.30 Costs of sales; bonds and notes of the city of Buffalo. Subject to the provisions of chapter one hundred twenty-two of the laws of two thousand three creating the Buffalo fiscal stability authority, to facilitate the marketing of any issue of serial bonds or notes of the city of Buffalo issued on or before June thirtieth, two thousand [twen- ty-three] TWENTY-FOUR, 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 nego- tiated 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 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. LBD03734-01-3
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