Loading chat...
NY A09711
Bill
Status
Passed
7/1/2018
Primary Sponsor
Robin Schimminger
Click for details
AI Summary
- Amends section 54.50 of the local finance law to extend the deadline for Erie County to sell serial bonds or notes from June 30, 2018 to June 30, 2019
- Allows Erie County to arrange underwriting of bonds or notes through private negotiated sale despite general law limitations on private sales of bonds
- Permits compensation for underwriting through either negotiated fees or by selling bonds to an underwriter at a discount below par value plus accrued interest
- Allows Erie County to arrange private placement of bonds or notes through negotiated agreement with compensation by negotiated fee if required
- Designates underwriting and private placement costs as preliminary costs under section 11.00 of the local finance law
- Takes effect immediately upon enactment
Legislative Description
Extends provisions of law relating to the sale of municipal notes and bonds of the county of Erie.
Last Action
signed chap.83
7/1/2018
Committee Referrals
Local Government5/7/2018
Ways and Means4/24/2018
Local Governments2/2/2018
Full Bill Text
No bill text available