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
Senator · Senate District 45
No co-sponsors yet.
History
- Signed chap.386
- Delivered to governor
- Returned to senate
- Passed assembly
- Home rule request
- Ordered to third reading rules cal.472
- Substituted for A9319
- Referred to local governments
- Delivered to assembly
- Passed senateVote 57–1
- Home rule request
- Advanced to third reading
Show 3 earlier actions
- 2nd report cal.
- 1st report cal.743
- 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.
Legalizes and validates certain bond anticipation notes issued by the village of Whitehall
Assembly Floor Calendar · Sponsor Dan Stec
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6947
Title of bill
An act making certain findings and determinations with respect to bond anticipation notes and serial bonds issued by the village of Whitehall, in the town of Whitehall and county of Washington, and validating and legalizing such notes and bonds
Purpose
This bill validates and legalizes the bond anticipation notes and renewals thereof and the serial bonds issued by the village to finance certain improvements to its sewer system and water system.
Summary of provisions
Pursuant to a bond resolution dated April 5, 2001, as amended by a bond resolution dated April 7, 2005, the village board of trustees authorized the issuance of serial bonds of the village, and bond anticipation notes in anticipation of the sale of such bonds, to finance the construction of certain improvements to the village's sewer system in order to bring it into compliance with a stipulation agreement between the village and the New York State Department of Environmental Conservation. Pursuant to bond resolutions dated January 25, 2005, January 26, 2006, July 6, 2006 and November 6, 2006, the village board of trustees authorized the issuance of serial bonds of the village, and bond anticipation notes in anticipation of the sale of such bonds, to finance the construction of certain improvements to the village's water system in order to bring it into compliance with a stipulation agreement between the village and the New York State Department of Health. Pursuant to said bond resolutions, the village issued several bond anticipation notes and renewals thereof to finance said sewer system improvements and water system improvements. The village has since issued serial bonds to the New York State Environmental Facilities Corporation to provide long-term financing for said sewer system improvements and water system improvements. One of the principal payments on a bond anticipation note issued to finance said water system improvements, however, was made from the proceeds of a bond anticipation note issued to finance said sewer system improvements, and as such was not in compliance with the local finance law which requires that the proceeds of obligations authorized pursuant to a bond resolution be expended only for the object or purpose for which such obligations were issued. Further, such principal payment was not made by the village from an annual appropriation as required by the local finance law.
Justification
This legislation will allow the village to proceed with short-term financing for further improvements to its sewer system through the New York State Environmental Facilities Corporation.
Legislative history
New bill.
Local fiscal implications
None.
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.