NY A08659

Amends Section 54.40 of the Local Finance Law to extend the deadline for Yonkers to issue serial bonds or notes from June 30, 2016 to June 30, 2017.

Permits the city of Yonkers to arrange underwriting of bonds or notes through private negotiated sales, with compensation provided by negotiated fees or by selling bonds at less than par value plus accrued interest.

Allows Yonkers to conduct private sales of bonds or notes through negotiated agreement with compensation by negotiated fee if required.

Classifies underwriting and private placement costs as preliminary costs under Section 11.00 of the Local Finance Law.

Takes effect immediately upon enactment.