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Sponsors
No co-sponsors yet.
History
- Substituted by A1309
- Advanced to third reading
- 2nd report cal.
- 1st report cal.196
- 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:S3463
Title of bill
An act to amend the local finance law, in relation to bonds and notes of the city of Yonkers
Purpose
Extender law - this bill extends the marketing limitation on serial bonds/notes of Yonkers from June 30, 2015 to June 30, 2016.
Summary of specific provisions
Section one of the bill amends Section 54.40 of the local finance law as amended by chapter 70 of the laws of 2014 to extend the city's authorization to issue bonds and notes through negotiated sale to June 30, 2016
Justification
Extender law - this bill extends the marketing limitation on serial bonds/notes of Yonkers from June 30, 2015 to June 30, 2016, 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, 2015 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
2014 - S6313 - Extender Law - Chapter 70 2013 - S3020 - Extender Law - Chapter 69 2012 - S6460 - Extender Law - Chapter 72 2011 - S2982 - Extender Law - Chapter 66 2010 - S6720 - Extender Law - Chapter 125 2009 - S3336 - Extender Law - Chapter 77 2008 - S6878 - Extender Law - Chapter 144
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.