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NY A10561
Bill
Status
6/3/2016
Primary Sponsor
Fred Thiele
Click for details
AI Summary
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Authorizes the Sag Harbor Union Free School District in Suffolk County to redirect up to $1,620,000 in bond proceeds issued on February 25, 2016 to alternative purposes instead of the originally planned synthetic turf field.
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Alternative uses must be for objects or purposes qualifying under paragraph (a) of section 11.00 of the local finance law with a probable useful life not exceeding 30 years.
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Redirection of bond proceeds requires approval by a majority of district voters voting at one or more annual or special district meetings.
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Takes effect immediately upon enactment.
Legislative Description
Authorizes the Sag Harbor Union Free School District, Suffolk County, New York, to expend the proceeds of certain bonds issued by the district for an object or purpose that differs from the original object or purpose for which said bonds were issued.
Last Action
substituted by s7992
6/15/2016