What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
No co-sponsors yet.
History
- Signed chap.194
- Delivered to governor
- Returned to senate
- Passed assembly
- Home rule request
- Ordered to third reading rules cal.189
- Substituted for A8847B
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 56–1
- Home rule request
- Amended on third reading 6078b
Show 6 earlier actions
- Advanced to third reading
- 2nd report cal.
- 1st report cal.220
- Print number 6078a
- Amend and recommit to local government
- Referred to local government
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 the town of Frankfort to finance a litigation settlement by the issuance of serial bonds and/or anticipation notes
Assembly Floor Calendar · Sponsor Marc Butler
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6078B
Title of bill
An act to authorize the Town of Frankfort to finance a litigation settlement by the issuance of serial bonds and/or anticipation notes
Purpose
To allow the Town of Frankfort to bond for a period of fifteen years in order to pay a one million four hundred fifty thousand dollars ($1,450,000) to the County of Herkimer.
Summary of provisions
Section one - authorizes the Town of Frankfort to issue serial bonds, subject to the provisions of section 10.10 of the Local Finance Law on or before June 30, 2013. The aggregate principal amount shall not exceed $1,450,000 for the specific purpose of settling amounts owed to the County of Herkimer.
Section two - authorizes the period of probable usefulness to be fifteen (15) years.
Section three - authorizes the Town Board of the Town of Frankfort to levy a tax to be collected in annual installments and to adopt a bond resolution authorizing the issuance of serial bonds pursuant to this act.
Section four - confines any judgment of invalidity rendered by any court of competent jurisdiction in its operation to the specific clause of this act.
Section five - provides effective date.
Justification
This bill comes at the request of the Town Board of the Town of Frank- fort. In a recent State supreme court decision, the Town of Frankfort owes the County of Herkimer $1,450,000 for workers' compensation costs. The Town does not have sufficient funds to satisfy the judgment and needs special authorization to issue serial bonds in order to settle the pending litigation.
Legislative history
New bill.
Fiscal implications
None to the state.
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.