Senate Bill S5630

2011-2012 Legislative Session

Relates to debt payments for Rochester school facilities not affecting the city of Rochester's maintenance of effort requirements

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Archive: Last Bill Status - In Senate Committee Finance Committee


  • 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

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2011-S5630 (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
Rochester, City of
Laws Affected:
Amd §5, Chap 416 of 2007

2011-S5630 (ACTIVE) - Summary

Relates to debt payments for Rochester school facilities not affecting the city of Rochester's maintenance of effort requirements.

2011-S5630 (ACTIVE) - Sponsor Memo

2011-S5630 (ACTIVE) - Bill Text download pdf

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

                                  5630

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              June 8, 2011
                               ___________

Introduced  by  Sens. ROBACH, MAZIARZ -- read twice and ordered printed,
  and when printed to be committed to the Committee on Local Government

AN ACT to amend chapter 416 of the laws of 2007, establishing  the  city
  of Rochester and the board of education of the city school district of
  the  city of Rochester school facilities modernization program act, in
  relation to debt payments for such school facilities

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

  Section 1.  Section 5 of chapter 416 of the laws of 2007, establishing
the  city  of  Rochester  and  the board of education of the city school
district of  the  city  of  Rochester  school  facilities  modernization
program act, is amended to read as follows:
  S  5.  Comprehensive  school  facilities  modernization plan.   Before
formal selection of the projects occurs, the RSC board shall  develop  a
comprehensive  school  facilities  modernization  plan  recommending and
outlining the projects it proposes to be potentially undertaken pursuant
to this act.  Such plan shall include: (a) an estimate of total costs to
be financed, proposed financing  plan,  proposed  method  of  financing,
terms  and  conditions of the financing, estimated financing costs, and,
if city general obligation bonds or notes are not proposed as the method
of financing, a comparison of financing  costs  between  such  bonds  or
notes  and  the  proposed method of financing.   ALL PAYMENTS, INCLUDING
LEASE PAYMENTS AND DEBT SERVICE ON ANY BONDS, NOTES OR OTHER OBLIGATIONS
ISSUED TO FINANCE PROJECTS UNDERTAKEN PURSUANT  TO  THIS  ACT  SHALL  BE
CONSIDERED  DEBT  SERVICE  PAYMENTS  OF  THE  CITY  SCHOOL  DISTRICT FOR
PURPOSES OF SUBPARAGRAPH (II) OF  PARAGRAPH  A  OF  SUBDIVISION  5-B  OF
SECTION 2576 OF THE EDUCATION LAW IN A MANNER CONSISTENT WITH THE LEGIS-
LATIVE INTENT OF SUCH SECTION. The plan should also address what specif-
ic  options  would  be used to ensure that sufficient resources exist to
cover the local share of any such project cost on an annual  basis;  (b)
information  concerning  the  potential  persons  to  be involved in the

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13010-01-1
              

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