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NY A10522
Bill
Status
6/1/2012
Primary Sponsor
Daniel Burling
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AI Summary
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Validates and legalizes all bond anticipation notes issued by the Village of Dansville, Livingston County, pursuant to seven bond resolutions adopted between November 1998 and June 2007 for wastewater treatment, street paving, equipment, and fire equipment.
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Acknowledges violations of local finance law occurred including: bond resolutions indicated periods of probable usefulness exceeding five years without required permissive referendum, principal payments did not satisfy five-year amortization requirements, and some bond anticipation renewal notes were issued beyond the fifth-year anniversary of the initial notes.
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Authorizes the Village of Dansville to issue additional bonds or bond anticipation renewal notes to continue financing the authorized projects over their full period of probable usefulness as specified in local finance law.
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Requires any future obligations issued under this act to comply with all applicable provisions of the local finance law.
Legislative Description
Validates, ratifies and confirms certain bonds issued by the village of Dansville, in the county of Livingston, and authorizes issuance of further bonds to finance the objects and purposes of the validated bonds.
Last Action
substituted by s7498
6/21/2012