Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Oct 21, 2014 |
signed chap.408 |
Oct 09, 2014 |
delivered to governor |
Jun 12, 2014 |
returned to assembly passed senate 3rd reading cal.981 substituted for s7241a |
Jun 12, 2014 |
substituted by a9579a |
Jun 09, 2014 |
amended on third reading 7241a |
Jun 02, 2014 |
advanced to third reading |
May 29, 2014 |
2nd report cal. |
May 28, 2014 |
1st report cal.981 |
May 07, 2014 |
referred to corporations, authorities and commissions |
Senate Bill S7241A
Signed By Governor2013-2014 Legislative Session
Sponsored By
(R, C) 53rd Senate District
Archive: Last Bill Status Via A9579 - 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
Actions
Votes
Bill Amendments
2013-S7241 - Details
- See Assembly Version of this Bill:
- A9579
- Law Section:
- Public Authorities Law
- Laws Affected:
- Amd §1226-l, Pub Auth L
2013-S7241 - Sponsor Memo
BILL NUMBER:S7241 TITLE OF BILL: An act to amend the public authorities law, in relation to the issuance of bonds and notes of the upper Mohawk valley regional water finance authority and to amend the maximum aggregate principal amount limitation PURPOSE: The purpose of this legislation is to increase the aggregate principal amount of bonds, notes or other obligations of the Mohawk valley regional water finance authority to $150,000,000. SUMMARY OF PROVISIONS: Amends subdivision 1 of section 1226-1 of the public authorities law increasing the aggregate principal amount of bonds, notes or other outstanding obligations by the Mohawk valley regional water finance authority to $150,000,000. Establishes that any notes or obligations issued to finance water facilities which have been determined necessary to service manufacturing facilities constructed or to be constructed in the service area after January 1, 2014, shall be excluded from the calculation of outstanding principal amount, provided that such bonds, notes or other obligations shall require state comptroller approval. JUSTIFICATION: The Mohawk Valley Regional Water Finance Authority was created under section 1226 of the Public Authorities Law in 1994. The original legislation establishing the Authority set their aggregate
2013-S7241 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7241 I N S E N A T E May 7, 2014 ___________ Introduced by Sen. GRIFFO -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the public authorities law, in relation to the issuance of bonds and notes of the upper Mohawk valley regional water finance authority and to amend the maximum aggregate principal amount limita- tion THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 1226-l of the public authorities law, as added by chapter 647 of the laws of 1994, is amended to read as follows: 1. The authority shall have the power and is hereby authorized from time to time to issue bonds, notes or other obligations to pay the cost of any project or for any other corporate purpose, including the estab- lishment of reserves to secure the bonds, the payment of principal of, premium, if any, and interest on the bonds and the payment of incidental expenses in connection therewith. [The] NO BONDS, NOTES OR OTHER OBLI- GATIONS SHALL BE ISSUED IF SUCH ISSUANCE WOULD CAUSE THE aggregate prin- cipal amount of such bonds, notes or other obligations [shall not] OUTSTANDING TO exceed one hundred FIFTY million dollars ([$100,000,000] $150,000,000), excluding bonds, notes or other obligations issued to refund or otherwise repay bonds, notes or other obligations theretofore issued for such purposes[; provided, however, that upon any such refund- ing or repayment the total aggregate principal amount of outstanding bonds, notes or other obligations may be greater than one hundred million dollars ($100,000,000) only if the present value of the aggre- gate debt service of the refunding or repayment bonds, notes or other obligations to be issued shall not exceed the present value of the aggregate debt service of the bonds, notes or other obligations so to be refunded or repaid. For purposes hereof, the present values of the aggregate debt service of the refunding or repayment bonds, notes or other obligations and of the aggregate debt service of the bonds, notes or other obligations so refunded or repaid, shall be calculated by EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
2013-S7241A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9579
- Law Section:
- Public Authorities Law
- Laws Affected:
- Amd §1226-l, Pub Auth L
2013-S7241A (ACTIVE) - Sponsor Memo
BILL NUMBER:S7241A TITLE OF BILL: An act to amend the public authorities law, in relation to the issuance of bonds and notes of the upper Mohawk valley regional water finance authority and to amend the maximum aggregate principal amount limitation PURPOSE: The purpose of this legislation is to increase the aggregate principal amount of bonds, notes or other obligations of the Mohawk valley regional water finance authority to $150,000,000. SUMMARY OF PROVISIONS: Amends subdivision 1 of section 1226-1 of the public authorities law increasing the aggregate principal amount of bonds, notes or other outstanding obligations by the Mohawk valley regional water finance authority to $150,000,000. Establishes that any notes or obligations issued to finance water facilities which have been determined necessary to service manufacturing facilities constructed or to be constructed in the service area after January 1, 2014, shall be excluded from the calculation of outstanding principal amount, provided that such bonds, notes or other obligations shall require state comptroller approval.
2013-S7241A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7241--A Cal. No. 981 I N S E N A T E May 7, 2014 ___________ Introduced by Sen. GRIFFO -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions -- 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 AN ACT to amend the public authorities law, in relation to the issuance of bonds and notes of the upper Mohawk valley regional water finance authority and to amend the maximum aggregate principal amount limita- tion THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 1226-l of the public authorities law, as added by chapter 647 of the laws of 1994, is amended to read as follows: 1. The authority shall have the power and is hereby authorized from time to time to issue bonds, notes or other obligations to pay the cost of any project or for any other corporate purpose, including the estab- lishment of reserves to secure the bonds, the payment of principal of, premium, if any, and interest on the bonds and the payment of incidental expenses in connection therewith. (A) The aggregate principal amount of such bonds, notes or other obli- gations shall not exceed one hundred FIFTY million dollars [($100,000,000)] ($150,000,000), excluding bonds, notes or other obli- gations issued to refund or otherwise repay bonds, notes or other obli- gations theretofore issued for such purposes; provided, however, that upon any such refunding or repayment the total aggregate principal amount of outstanding bonds, notes or other obligations may be greater than one hundred FIFTY million dollars [($100,000,000)] ($150,000,000) only if the present value of the aggregate debt service of the refunding or repayment bonds, notes or other obligations to be issued shall not exceed the present value of the aggregate debt service of the bonds, notes or other obligations so to be refunded or repaid. (B) PROVIDED FURTHER THAT NO SUCH BONDS, NOTES OR OTHER OBLIGATIONS THAT SUCH BOARD HAS DETERMINED TO BE REASONABLY NECESSARY TO SERVICE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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