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Sponsors
No co-sponsors yet.
History
- Referred to rules
- Delivered to senate
- Passed assembly
- Ordered to third reading rules cal.260
- Rules report cal.260
- Reported
- Reported referred to rules
- Reported referred to ways and means
- Referred to education
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Authorizes Marlboro central school district to issue serial bonds
In Senate Committee · Education · Sponsor William J. Larkin Jr.
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A10706
Title of bill
An act in relation to authorizing the Marlboro Central School District to issue serial bonds
Purpose
The Marlboro Central School District includes the Danskammer and Roseton power plants. As has occurred in other parts of the State, after these power plants were sold by public utilities to private power producing consortiums, such new owners moved to significantly reduce (by approximately 90%} the assessed value of both plants. The power plant owners have succeeded in their tax certiorari proceedings. This means that past overpayments will require reimbursement by the taxing juris- dictions in which Danskammer and Roseton power plants are located. The overpayments may go back as far as fiscal year 2003.
Summary of provisions
Section 1: The Marlboro Central School District is authorized to issues serial bonds in an amount not to exceed 11 million dollars for a period not to exceed 30 years.
Existing law
JUSTIFICATION: This bill allows the School District to bond for up to 30 years without which the judgment would have to be paid out of current operating expenses.
Legislative history
A6700, 92737 of 2009
Fiscal implications
None.
Local fiscal implications
To be determined.
Effective date
Immediate.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.