Bill Text: NY A03935 | 2013-2014 | General Assembly | Introduced

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Bill Title: Authorizes the city school district of the city of Mount Vernon, New York to expend the proceeds of bonds or notes issued pursuant to the bond resolutions for the projects set forth in the bond resolutions.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2013-02-11 - enacting clause stricken [A03935 Detail]

Download: New_York-2013-A03935-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         3935
                              2013-2014 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 29, 2013
                                      ___________
       Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
         tee on Cities
       AN ACT to authorize the city  school  district  of  the  city  of  Mount
         Vernon,  New  York  to  expend  the  proceeds of bonds or notes issued
         pursuant to the bond resolutions for the projects  set  forth  in  the
         bond resolutions
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Definitions. For the purposes of this act, "district" shall
    2  mean the city school district of the city of Mount  Vernon,  Westchester
    3  county, New York.
    4    S  2. The bond resolution adopted by the district on February 9, 2000,
    5  is hereby validated, ratified and confirmed  notwithstanding  that  such
    6  bond resolution authorized the issuance of obligations for more than one
    7  object  or  purpose  in  violation of section 31.00 of the local finance
    8  law.
    9    S 3. The past and future expenditure of the  proceeds  of  obligations
   10  issued pursuant to the bond resolution adopted by the district on Febru-
   11  ary 9, 2000, is hereby validated, ratified and confirmed notwithstanding
   12  that  a  portion  of  such  obligations  was issued for a certain stated
   13  object or purpose, as referred to  in  such  bond  resolution,  and  the
   14  proceeds  from  such  portion  were  or will be expended for a different
   15  object or purpose referred to within such bond resolution  in  violation
   16  of section 165.00 of the local finance law.
   17    S  4.  The bond resolutions adopted by the district on April 20, 2005,
   18  and on April 26, 2006, are  hereby  validated,  ratified  and  confirmed
   19  notwithstanding  that  such  bond resolutions authorized the issuance of
   20  obligations for an object or purpose having a period of probable useful-
   21  ness that does not apply to the district. Such bond resolutions shall be
   22  deemed to have authorized the issuance of obligations for  a  period  of
   23  probable  usefulness  of 30 years as provided by subdivision 97 of para-
   24  graph a of section 11.00 of the local finance law.
   25    S 5. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD07724-01-3