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History
- Substituted by S6862
- Advanced to third reading cal.864
- Reported
- Reported referred to ways and means
- Referred to cities
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.
Extends authorization for private sale of bonds and notes of the city of Buffalo
Signed by Governor · Sponsor Antoine M. Thompson
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A9951
Title of bill
An act to amend the local finance law, in relation to the sale of bonds and notes of the city of Buffalo
Purpose of the bill
This bill extends authorization for the private sale of bonds and notes of the City of Buffalo.
Summary of specific provisions
§ 1- Amends § 54.30 of the Local Finance Law to extend the provisions of this section from June 30, 2010 to June 30, 2011. This is simply a one year extender of existing law to allow the City of Buffalo to sell its bonds at private sale.
§ 2- Effective date.
Justification
The present law, which expires on June 30, 2010, has given the City of Buffalo a valuable tool to provide expeditious funds for projects which require immediate attention. Since this law has already proven its usefulness, an extension of one year would provide the City with enough financial flexibility to encounter any further needs in that time frame. This bill incorporates, by reference, the newly created Buffalo Fiscal Stability Authority,
Prior legislative history
Chapter 78 of the Laws of 2009 (A.6296/S.4916); Chapter 116 of the Laws of 2008 (A.9878/S.6739); Chap- ter 38 of 2007; Chapter 79 of 2006; Chapter 69 of 2005; Chapter 122 of 2004; Chapter 108 of 2003; Chapter 115 of 2002; Chapter 118-of 2001; Chapter 90 of 2000; Chapter 406 of 1999; Chapter 111 of 1998; Chapter 32 of 1997; Chapter 100 of 1996. This bill has been continually extended since 1984.
Fiscal implications
None to New York State.
Local fiscal implications
Positive effects to the City of Buffalo.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.