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NY S07992
Bill
Status
11/28/2016
Primary Sponsor
Kenneth LaValle
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AI Summary
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Authorizes the Sag Harbor Union Free School District in Suffolk County, New York to redirect up to $1,620,000 in bond proceeds issued on February 25, 2016 to alternative purposes instead of the original synthetic turf field project.
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Permits the district to expend redirected bond funds for objects or purposes under section 11.00 of the local finance law with a useful life of not more than 30 years.
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Requires approval of one or more propositions by a majority of district voters at annual or special district meetings before the reallocation can proceed.
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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
SIGNED CHAP.498
11/28/2016