Senate Bill S2982

Signed By Governor
2011-2012 Legislative Session

Relates to bonds and notes of the city of Yonkers

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions
Votes

2011-S2982 (ACTIVE) - Details

See Assembly Version of this Bill:
A2429
Law Section:
Local Finance Law
Laws Affected:
Amd §54.40, Loc Fin L
Versions Introduced in 2009-2010 Legislative Session:
A9980

2011-S2982 (ACTIVE) - Summary

Relates to bonds and notes of the city of Yonkers.

2011-S2982 (ACTIVE) - Sponsor Memo

2011-S2982 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2982

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            February 4, 2011
                               ___________

Introduced  by  Sen.  STEWART-COUSINS -- read twice and ordered printed,
  and when printed to be committed to the Committee on Local Government

AN ACT to amend the local finance law, in relation to bonds and notes of
  the city of Yonkers

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 54.40 of the local finance law, as amended by chap-
ter 125 of the laws of 2010, is amended to read as follows:
  S  54.40  Bonds  and  notes  of  the  city  of Yonkers. Subject to the
provisions of the New York state financial  emergency  act  of  nineteen
hundred eighty-four for the city of Yonkers, to facilitate the marketing
of  any  issue of serial bonds or notes of the city of Yonkers issued on
or before June thirtieth, two thousand [eleven] TWELVE, such  city  may,
notwithstanding  any  limitations  on private sales of bonds provided by
law, and subject to approval by the state comptroller of the  terms  and
conditions  of  such sale: (a) arrange for the underwriting of its bonds
or notes at private sale through negotiated agreement, compensation  for
such  underwriting  to  be provided by negotiated fee or by sale of such
bonds or notes to an underwriter at a price of less than the sum of  par
value  of, and the accrued interest on, such obligations; or (b) arrange
for the private sale of its bonds or notes through negotiated agreement,
compensation for such  sales  to  be  provided  by  negotiated  fee,  if
required.  The  cost  of such underwriting or private placement shall be
deemed a preliminary cost for purposes of section 11.00 of this article.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03303-01-1


              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.