Bill Text: NY S08725 | 2023-2024 | General Assembly | Introduced

New York Senate Bill 8725

Introduced

Bill Title: Amends the village of Washingtonville deficit financing act to extend the time frames for the issuance of certain bonds by the village of Washingtonville.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-03-04 - REFERRED TO LOCAL GOVERNMENT [S08725 Detail]

Download: New_York-2023-S08725-Introduced.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                          8725

                    IN SENATE

                                      March 4, 2024
                                       ___________

        Introduced  by  Sen. SKOUFIS -- read twice and ordered printed, and when
          printed to be committed to the Committee on Local Government

        AN ACT to amend the village of Washingtonville deficit financing act, in
          relation to the issuance of certain bonds

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1. Section 2 of chapter 206 of the laws of 2023, constituting
     2  the village of Washingtonville deficit financing act, is amended to read
     3  as follows:
     4    § 2. Bonds. The village of Washingtonville, Orange county,  is  hereby
     5  authorized  to  issue serial bonds, subject to the provisions of section
     6  10.10 of the local finance law, on or before [November  30,  2024]  June
     7  30,  2025, in an aggregate principal amount not to exceed $4,500,000 for
     8  the specific object or purpose of liquidating the  accumulated  deficits
     9  of the general fund, water fund, sewer fund and capital projects fund as
    10  of  [May  31, 2023] February 29, 2024, including the remaining principal
    11  amount of any  budget,  deficiency  and/or  revenue  anticipation  notes
    12  outstanding  at  the time of said issuance of said serial bonds or notes
    13  authorized pursuant to this act. In anticipation  of  the  issuance  and
    14  sale of such serial bonds, bond anticipation notes are hereby authorized
    15  to be issued.
    16    § 2. This act shall take effect immediately.





         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14730-01-4