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NY A10707

Bill

Official Source

Status

Engrossed

6/21/2012

Primary Sponsor

Ellen Jaffee

Click for details

Origin

Assembly

2011-2012 General Assembly

AI Summary

  • Authorizes Rockland County to issue up to $80,000,000 in serial bonds by September 30, 2013 to liquidate current deficits in its general fund as of December 31, 2010, 2011, and 2012
  • Permits issuance of bond anticipation notes in advance of selling the serial bonds
  • Requires the county executive to submit proposed budgets to the state comptroller at least 30 days before the county legislature's budget vote
  • Requires the state comptroller to examine the budget and provide recommendations within 10 days, with the county legislature required to review and adjust the budget accordingly within 5 days of adoption
  • Act expires and repeals automatically 10 years after the second issuance of deficit bonds or notes under this authorization

Legislative Description

Enacts the "Rockland county deficit financing act" to authorize the county of Rockland to issue bonds.

Last Action

REFERRED TO RULES

6/21/2012

Committee Referrals

Rules6/21/2012
Ways and Means6/20/2012
Local Governments6/15/2012

Full Bill Text

No bill text available