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NY A10479
Bill
Status
7/1/2018
Primary Sponsor
Helene Weinstein
Click for details
AI Summary
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Extends deadline for New York City bond and note sales from June 30, 2018 to June 30, 2019, and extends variable rate bond issuance deadline from July 15, 2018 to July 15, 2019.
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Permits New York City to conduct private bond sales to the Municipal Assistance Corporation and other purchasers with mayoral, comptroller, and state comptroller approval prior to July 1, 2019.
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Allows New York City to refund outstanding bonds issued after June 30, 1978 and before July 1, 2019 if refunding bonds omit or modify covenants related to the New York State Financial Control Board.
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Extends New York City's authority to finance capital projects through bond issuance with a period of probable usefulness until July 1, 2019, including reimbursement issuances and note redemptions.
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Extends the state's pledge and agreement regarding the Financial Control Board's authority through July 1, 2019, preventing state action that would substantially impair the board's financial oversight powers during control periods.
Legislative Description
Relates to the sale of bonds and notes of New York city, the issuance of bonds or notes with variable rates of interest, interest rate exchange agreements of New York city, the refunding of bonds, and the down payment for projects financed by bonds; amends the New York state financial emergency act for New York city; makes further amendments relating to the effectiveness thereof.
Last Action
signed chap.91
7/1/2018