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NY S06422
Bill
Status
1/6/2010
Primary Sponsor
Joseph Addabbo
Click for details
AI Summary
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Amends Public Authorities Law Section 561 to prohibit any resolution authorizing bonds or notes from containing provisions that limit discounts or require a minimum toll on the Cross Bay Veterans Memorial Bridge
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Amends Public Authorities Law Section 1269 with identical prohibitions on bond resolutions and covenants related to the Cross Bay Veterans Memorial Bridge
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Applies the restrictions to any bond or note pledges created through resolutions, bond covenants, or series instruments
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Takes effect immediately and applies only to resolutions passed and bonds or notes issued on or after the effective date
Legislative Description
Prohibits provision in bonds or notes issued by the Metropolitan Transportation Authority or Triborough Bridge and Tunnel Authority limiting discounts or requiring a minimum toll on the Cross Bay Veterans Memorial Bridge; applies only prospectively to resolutions passed or bonds or notes issued on or after the effective date.
Last Action
PRINT NUMBER 6422A
6/25/2010