Senate Bill S5861

Signed By Governor
2015-2016 Legislative Session

Relates to the powers of the Ogdensburg bridge authority and the Ogdensburg port authority

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A5651 - 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

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2015-S5861 (ACTIVE) - Details

See Assembly Version of this Bill:
A5651
Law Section:
Public Authorities Law
Laws Affected:
Amd ยงยง706 & 1379, Pub Auth L
Versions Introduced in 2013-2014 Legislative Session:
A9629

2015-S5861 (ACTIVE) - Summary

Relates to the powers of the Ogdensburg bridge authority and the Ogdensburg port authority with regard to the Ogdensburg International Airport.

2015-S5861 (ACTIVE) - Sponsor Memo

2015-S5861 (ACTIVE) - Bill Text download pdf

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

                                  5861

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                              June 9, 2015
                               ___________

Introduced  by  Sen. RITCHIE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

AN ACT to amend the public authorities law, in relation to the powers of
  the Ogdensburg bridge authority and the Ogdensburg port authority

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

  Section  1. Subdivisions 1 and 3 of section 706 of the public authori-
ties law, subdivision 1 as amended by chapter 972 of the laws  of  1969,
subdivision 3 as amended by chapter 809 of the laws of 1968, are amended
to read as follows:
  1.  The  authority shall have power and is hereby authorized from time
to time to issue its negotiable  bonds  in  conformity  with  applicable
provisions  of  the  uniform  commercial  code  in such amount as may be
necessary to pay the cost  of  the  bridge  and  approach  roads  herein
authorized  and  the  cost  of all land, property, rights, easements and
franchises deemed necessary for the construction  thereof,  and  to  pay
interest  prior  to  and  during  construction  and  for  one year after
completion of construction,  FOR  RECONSTRUCTION  AND  UPGRADES  TO  THE
BRIDGE,  the  purchase  price  of  the ferry or ferries authorized to be
acquired, the repayment of any advances or appropriations  made  by  the
state  of  New  York  to the authority and such other expenses as may be
deemed necessary or incident to the financing and to the construction of
the bridge and approach roads, and to placing the same in operation, AND
INFRASTRUCTURE, UPGRADE AND EXPANSION AT  THE  OGDENSBURG  INTERNATIONAL
AIRPORT.
  3.  The  bonds  shall  be  authorized by resolution of the board.  The
bonds shall be dated, shall bear interest at  such  rate  or  rates  not
exceeding  six  per centum per annum, shall mature at such time or times
all as may be determined by the authority and  may  be  made  redeemable
before maturity, at the option of the authority, at such price or prices
and  under  such  terms  and conditions as may be fixed by the authority

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11544-02-5
              

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