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NY S06910
Bill
Status
8/11/2014
Primary Sponsor
Cecilia Tkaczyk
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AI Summary
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Validates and ratifies bond anticipation notes and renewals issued by the Town of Cairo, Greene County totaling $2,915,000 for wastewater treatment plant upgrades, force main construction, and sewer system improvements
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Authorizes a $750,000 bond anticipation note issued December 24, 2008, with renewals on December 24, 2009 and December 23, 2010, and validates a $2,885,715 refinancing through the New York State Environmental Facilities Corporation obtained September 29, 2011
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Deems principal payments made by the town in 2013 on the bond anticipation note compliant with state local finance law amortization requirements, despite late payments in prior years
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Confirms all resolutions, acts, and proceedings adopted by the Town Board and Supervisor related to these obligations as valid, notwithstanding defects in compliance with Local Finance Law sections 21.00, 23.00, and 169.00
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Takes effect immediately upon enactment
Legislative Description
Relates to long-term environmental facilities corporation financing and the town of Cairo; provides relief by validating and ratifying the town of Cairo's actions with respect to a bond anticipation note and renewals.
Last Action
SIGNED CHAP.309
8/11/2014