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NY S06814

Bill

Official Source

Status

Passed

6/29/2012

Primary Sponsor

James Seward

Click for details

Origin

Senate

2011-2012 General Assembly

AI Summary

  • Extends the deadline for the Village of Herkimer to issue serial bonds from June 30, 2012 to December 31, 2012
  • Increases the maximum principal amount of bonds from $1.6 million to $2.46 million for settling pending litigation regarding workers' compensation costs owed to Herkimer County
  • Removes the requirement that bonds be subject to section 10.10 of the local finance law
  • Removes the requirement that taxes levied to pay bond principal and interest 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

SIGNED CHAP.82

6/29/2012

Committee Referrals

Local Governments4/30/2012
Local Government3/26/2012

Full Bill Text

No bill text available