Senate Bill S6078B

Signed By Governor
2011-2012 Legislative Session

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

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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

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Bill Amendments

2011-S6078 - Details

See Assembly Version of this Bill:
A8847
Law Section:
Herkimer County

2011-S6078 - Summary

Authorizes the town of Frankfurt to finance a litigation settlement by the issuance of serial bonds and/or anticipation notes.

2011-S6078 - Sponsor Memo

2011-S6078 - Bill Text download pdf

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

    S. 6078                                                  A. 8847

                      S E N A T E - A S S E M B L Y

                               (PREFILED)

                             January 4, 2012
                               ___________

IN  SENATE -- Introduced by Sen. SEWARD -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Local Govern-
  ment

IN ASSEMBLY -- Introduced by M. of A. BUTLER -- read once  and  referred
  to the Committee on Local Governments

AN  ACT  to  authorize  the  Town  of  Frankfort 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 Town of Frankfort, 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 aggre-
gate principal amount not to exceed one million four hundred fifty thou-
sand dollars ($1,450,000) 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 Town of Frank-
fort 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  Board  of the Town of Frankfort is hereby authorized 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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

2011-S6078A - Details

See Assembly Version of this Bill:
A8847
Law Section:
Herkimer County

2011-S6078A - Summary

Authorizes the town of Frankfurt to finance a litigation settlement by the issuance of serial bonds and/or anticipation notes.

2011-S6078A - Sponsor Memo

2011-S6078A - Bill Text download pdf

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

    S. 6078--A                                            A. 8847--A

                      S E N A T E - A S S E M B L Y

                               (PREFILED)

                             January 4, 2012
                               ___________

IN  SENATE -- Introduced by Sen. SEWARD -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Local Govern-
  ment -- committee  discharged,  bill  amended,  ordered  reprinted  as
  amended and recommitted to said committee

IN  ASSEMBLY  -- Introduced by M. of A. BUTLER -- read once and referred
  to the Committee on Local Governments --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee

AN ACT to authorize the  Town  of  Frankfort  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 Town of Frankfort, 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, 2013, in an aggre-
gate principal amount not to exceed one million four hundred fifty thou-
sand dollars ($1,450,000) 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 Town  of  Frank-
fort  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 Board of the Town of Frankfort  is  hereby  authorized  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

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

2011-S6078B (ACTIVE) - Details

See Assembly Version of this Bill:
A8847
Law Section:
Herkimer County

2011-S6078B (ACTIVE) - Summary

Authorizes the town of Frankfurt to finance a litigation settlement by the issuance of serial bonds and/or anticipation notes.

2011-S6078B (ACTIVE) - Sponsor Memo

2011-S6078B (ACTIVE) - Bill Text download pdf

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

    S. 6078--B                                            A. 8847--B
    Cal. No. 220

                      S E N A T E - A S S E M B L Y

                               (PREFILED)

                             January 4, 2012
                               ___________

IN  SENATE -- Introduced by Sen. SEWARD -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Local Govern-
  ment -- committee  discharged,  bill  amended,  ordered  reprinted  as
  amended  and  recommitted to said committee -- reported favorably from
  said committee, ordered to first and second report, ordered to a third
  reading, amended and ordered reprinted, retaining  its  place  in  the
  order of third reading

IN  ASSEMBLY  -- Introduced by M. of A. BUTLER -- read once and referred
  to the Committee on Local Governments --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee -- reported and referred to the Committee on  Ways  and  Means  --
  committee  discharged,  bill amended, ordered reprinted as amended and
  recommitted to said committee

AN ACT to authorize the  Town  of  Frankfort  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 Town of Frankfort, in the county of Herkimer, is hereby
authorized to issue serial bonds, on or before  June  30,  2013,  in  an
aggregate  principal amount not to exceed one million four hundred fifty
thousand dollars ($1,450,000) 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 Town of Frank-
fort is hereby authorized to  accomplish  and  the  period  of  probable
usefulness thereof is hereby authorized to be fifteen years.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

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