Senate Bill S5459

Signed By Governor
2011-2012 Legislative Session

Authorizes the village of Herkimer to finance a litigation settlement by the issuance of serial bonds and/or anticipation notes

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-S5459 (ACTIVE) - Details

See Assembly Version of this Bill:
A8097
Law Section:
Local Finance

2011-S5459 (ACTIVE) - Summary

Authorizes the village of Herkimer to finance a litigation settlement regarding amounts owed to the county of Herkimer for workers' compensation costs, by the issuance of serial bonds and/or anticipation notes.

2011-S5459 (ACTIVE) - Sponsor Memo

2011-S5459 (ACTIVE) - Bill Text download pdf 

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

                                  5459

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              May 24, 2011
                               ___________

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

AN ACT to authorize the Village of  Herkimer  to  finance  a  litigation
  settlement by the issuance of serial bonds and/or anticipation notes

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

  Section 1. The Village of Herkimer, in  the  county  of  Herkimer,  is
hereby  authorized  to  issue serial bonds, subject to the provisions of
section 10.10 of the local finance law, on or before June 30,  2012,  in
an  aggregate  principal  amount  not  to exceed one million six hundred
thousand dollars ($1,600,000) for the  specific  object  or  purpose  of
settling  pending  litigation  regarding  amounts owed to the county for
workers' compensation costs. In anticipation of the issuance and sale of
such serial bonds, bond anticipation notes are hereby authorized  to  be
issued.
  S 2. Notwithstanding the provisions of any other law, general, special
or  local, to the contrary, including section 11.00 of the local finance
law, the specific object or purpose referred to in section one  of  this
act  is  hereby  declared  to  be  a public purpose which the Village of
Herkimer is hereby authorized to accomplish and the period  of  probable
usefulness thereof is hereby authorized to be fifteen years.
  S 3. Notwithstanding the provisions of any other law, general, special
or local, the Village Board of the Village of Herkimer is hereby author-
ized  to levy a tax to be collected in annual installments sufficient to
pay the principal of and interest on said bonds  and  bond  anticipation
notes  and  to  adopt  a  bond  resolution  authorizing the serial bonds
authorized to be issued pursuant to this act.
  S 4. If any clause, sentence, subdivision, paragraph, section or  part
of  this  act  be  adjudged by any court of competent jurisdiction to be
invalid, such judgment  shall  not  affect,  impair  or  invalidate  the
remainder thereof, but shall be confined in its operation to the clause,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11810-01-1

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.