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NY A08980
Bill
Status
3/6/2014
Primary Sponsor
David DiPietro
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AI Summary
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Validates three series of bond anticipation notes issued by Village of Silver Springs between 2009-2013 totaling approximately $928,515 in principal, which were issued without required bond resolutions under local finance law.
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Authorizes the village to issue bonds or renewal bond anticipation notes in aggregate amounts of $120,000 (Phase I electrical system), $150,000 (Phase II), and $325,000 (Phase III) to refinance the outstanding defective notes.
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Exempts the required bond resolutions from permissive referendum requirements and allows one additional renewal bond anticipation note maturing no later than June 13, 2015 for Phase I purposes.
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Permits the village to reissue bonds up to the specified maximum amounts even if prior notes were extended, renewed, or redeemed before this act takes effect.
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Takes effect immediately upon enactment.
Legislative Description
Legalizes and validates certain acts and proceedings of the village board of trustees of the village of Silver Springs, Wyoming county, in relation to the issuance of certain bond anticipation notes.
Last Action
substituted by s6598b
6/19/2014