Loading chat...
NY A09698
Bill
Status
3/27/2012
Primary Sponsor
Marc Butler
Click for details
AI Summary
-
Authorizes the Village of Herkimer to issue serial bonds on or before December 31, 2012, in an aggregate principal amount not to exceed $2,460,000 (increased from $1,600,000) to settle pending litigation regarding workers' compensation costs owed to the county.
-
Permits the Village Board to issue bond anticipation notes in advance of the serial bonds.
-
Removes the requirement that bonds be subject to section 10.10 of the local finance law.
-
Authorizes the Village Board to levy taxes sufficient to pay principal and interest on the bonds and bond anticipation notes, without requiring taxes to be collected in annual installments.
-
Takes effect immediately upon enactment.
Legislative Description
Amends provisions authorizing the village of Herkimer to finance a litigation settlement by the issuance of serial bonds and/or anticipation notes, in relation to the requirements of issuing and levying taxes on such bonds and notes.
Last Action
substituted by s6814
6/20/2012