Loading chat...
NY S07643
Bill
Status
Engrossed
6/15/2016
Primary Sponsor
Kemp Hannon
Click for details
AI Summary
- Authorizes Hempstead union free school district to issue serial bonds up to $7,000,000 by September 15, 2017 to liquidate accumulated deficits in its general fund as of June 30, 2015
- Permits issuance of bond anticipation notes in advance of selling the serial bonds
- Requires district's chief fiscal officer to submit proposed budgets to the state comptroller and commissioner of education at least 30 days before board vote during all fiscal years the debt is outstanding
- Mandates state comptroller and commissioner of education provide budget recommendations within 10 days before board vote, and requires board to review and make adjustments consistent with those recommendations
- Act takes effect immediately upon enactment
Legislative Description
Authorizes the Hempstead union free school district to issue up to seven million dollars in serial bonds to finance a deficit in its general funds.
Last Action
referred to education
6/15/2016
Committee Referrals
Rules6/15/2016
Education5/12/2016
Full Bill Text
No bill text available