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NY A10523
Bill
Status
Passed
8/1/2012
Primary Sponsor
Kevin Cahill
Click for details
AI Summary
- Village of Ellenville assigned a 30-year period of probable usefulness to sewer system improvements when it was entitled to use 40 years under state law
- Village issued $10.5 million in bond anticipation notes on August 10, 2011, and received $431,777.62 from the New York State Environmental Facilities Corporation on September 22, 2011, exceeding authorized borrowing amounts
- Bill validates the $431,777.62 draw down from the Environmental Facilities Corporation and authorizes the village to continue issuing bonds or bond anticipation renewal notes for sewer improvements
- Period of probable usefulness for the sewer system is established as 40 years measured from August 10, 2011
- Act takes effect immediately and applies only to obligations issued in accordance with state local finance law
Legislative Description
Validates certain acts of the village of Ellenville with respect to certain obligations issued to finance a village sewer system.
Last Action
signed chap.335
8/1/2012
Committee Referrals
Rules6/18/2012
Rules6/13/2012
Ways and Means6/11/2012
Local Governments6/1/2012
Full Bill Text
No bill text available