What's happening
This bill increases the borrowing limit for the Fishers Island ferry district from $5 million to $20 million, subject to referendum.
Why it matters
Expanding the borrowing capacity from $5 million to $20 million allows the Fishers Island ferry district to pursue larger infrastructure or fleet improvements. potentially enabling modernization, expansion, or replacement of aging assets that may otherwise be unaffordable.
Because any borrowing above the original limit still requires a referendum by property owners in the district, residents retain a direct check on large expenditures. helping ensure that new debt aligns with community priorities and willingness to pay.
The increased limit could improve access to state or federal matching funds or grants, as local borrowing capacity is often a prerequisite for securing outside investment in public transportation projects.
By clarifying and re-emphasizing the referendum requirement, the amendment helps safeguard fiscal responsibility and transparency for significant public investments.
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Who cares
Headline styles
Raise Ferry Bond Limit
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Signed chap.592
- Delivered to governor
- Returned to senate
- Passed assembly
- Ordered to third reading rules cal.492
- Substituted for A6006
- Referred to local governments
- Delivered to assembly
- Passed senateVote 62–0
- Advanced to third reading
- 2nd report cal.
- 1st report cal.789
Show 1 earlier action
- 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.
Raise Ferry Bond Limit
Assembly Floor Calendar · Sponsor Anthony H. Palumbo
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
3452
2019-2020 Regular Sessions
IN SENATE
February 7, 2019
Introduced by Sen. LAVALLE -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government
AN ACT to amend chapter 699 of the laws of 1947, relating to authorizing the creation of Fishers Island ferry district in the town of Southold, Suffolk County, in relation to authorizing an increase in principal of bonds issued for the acquisition, construction, equipment and operation of a public ferry for hire from Fishers Island across waters of Long Island Sound, subject to referendum
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 4 of chapter 699 of the laws of 1947 relating to authorizing the creation of Fishers Island ferry district in the town of Southold, Suffolk County, as amended by chapter 467 of the laws of 1993, is amended to read as follows:
§ 4. The cost of acquisition, construction and equipment of the ferry, including lands and rights or easements in lands, shall be paid from taxes levied for the fiscal year in which such expenditure is made; from surplus funds, or from the proceeds of town obligations to be issued and sold in the manner provided by the local finance law. The town board of the town of Southold may borrow the amount needed for such purposes and issue town obligations therefor in an aggregate principal amount not exceeding five hundred thousand dollars. Upon the adoption of a resolution by the town board, subject to a permissive referendum by the owners of taxable real property situate within the ferry district as shown by the latest completed assessment roll of said town, such aggregate principal amount which the town board may borrow and for which obligations may be issued may be increased to any amount up to but not exceeding the sum of [five] twenty million dollars; provided however, the bond resolution authorizing the issuance of such obligations shall be subject to permissive referendum, or such resolution may be submitted
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08465-01-9
S. 3452 2
to a referendum by the town board on its own motion, in the manner prescribed in article 7 of the town law.
§ 2. This act shall take effect immediately and shall apply to fiscal years beginning on and after January 1, 2021.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend chapter 699 of the laws of 1947, relating to authorizing the creation of Fishers Island ferry district in the town of Southold, Suffolk County, in relation to authorizing an increase in principal of bonds issued for the acquisition, construction, equipment and operation of a public ferry for hire from Fishers Island across waters of Long Island Sound, subject to referendum
Purpose
To provide for amendments to the Fishers Island Ferry Enabling Act.
Summary of provisions
Section 1. Increases the district's bonding authority from $5M to $20M.
Section 2. Sets forth the effective date.
Justification
Fishers Island is a small island approximately 7 miles long and 3/4 mile wide situated in Long Island Sound five miles off the coast of New London Connecticut. The island is a part of the town of Southold in Suffolk County and is approximately 25 miles from Long Island. The popu- lation of the island is approximately 236 year round residents growing to 2000 in the summer months. The primary form of transportation to and from the island is the Fishers Island Ferry, which run to New London on a varying seasonal schedule. The Fishers Island Ferry District was created by Chapter 6999 of the laws of 1947. It runs the ferry and oper- ates a general aviation airport (Elizabeth Field) on the island. Ferry service is funded by a tax levied on all privately owned properties within the district and through ticketed sales and freight fees. The fleet consists of two vessels which were built in 1978 and 1985 and will be needing replacement in the near future. This bill would increase the bonding authority of the district from $5M to $20M to accommodate the costs of replacement.
Legislative history
2017-18 S.6278A/A.7750A.
Fiscal implications
None
Effective date
This act shall take effect immediately and shall apply to fiscal years beginning on and after January 1, 2021.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.