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Sponsors
No co-sponsors yet.
History
- Substituted by A9292
- Advanced to third reading
- 2nd report cal.
- 1st report cal.556
- 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.
Relates to bonds and notes of the city of Yonkers
Signed by Governor · Sponsor J. Gary Pretlow
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6460
Title of bill
An act to amend the local finance law, in relation to bonds and notes of the city of Yonkers
Purpose
This bill extends for one year, the authority of the city of Yonkers to issue bonds and notes through negotiated sale.
Summary of specific provisions
Section one of the bill amends Section 54.40 of the local finance law as amended by chapter 66 of the laws of 2011 to extend the city's authorization to issue bonds and notes through negotiated sale to June 30, 2013.
Justification
The authorization for Yonkers to negotiate the private sales of its bonds or notes is vital to improving the city's financial stability and independence. The city's bonding authority will expire on June 30, 2012 unless it is extended for one year.
The continuation of this power will allow more cost-effective financing for the city of Yonkers.
Legislative history
2011: S.2982 Passed Senate/Signed Chapter 66 of 20l1 2010: S.6720 Passed Senate/Signed Chapter 125 of 2010 2009: S.3336 Passed Senate/Signed Chapter 77 of 2009 2008: S.6878 Passed Senate/Signed Chapter 144 L. of 2008
Fiscal implications
None to the State.
Effective date
This bill shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.