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NY S08553
Bill
Status
5/10/2018
Primary Sponsor
Martin Golden
Click for details
AI Summary
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Extends the deadline for New York City to issue bonds and notes from June 30, 2018 to June 30, 2019 under existing bond issuance procedures and marketing requirements.
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Extends the deadline for the city to issue variable rate bonds and conduct interest rate exchange agreements from July 15, 2018 to July 15, 2019.
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Extends the deadline for the city to refund outstanding bonds under relaxed conditions from July 1, 2018 to July 1, 2019.
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Extends the deadline for the city to finance objects or purposes through bond issuance, including reimbursement bonds and refunding bonds, from July 1, 2018 to July 1, 2019.
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Extends the effective date of the state pledge and agreement protecting the New York State Financial Control Board's authority during control periods from July 1, 2018 to July 1, 2019 for city bonds and notes issued before that date.
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
REFERRED TO CITIES
5/10/2018