NY S04851

Amends Local Finance Law Section 54.50 to extend the deadline for Erie County to sell serial bonds or notes from June 30, 2021 to June 30, 2022.

Permits Erie County to arrange underwriting of bonds or notes through private negotiated sale, with compensation provided by negotiated fee or discount pricing below par value plus accrued interest.

Allows Erie County to conduct private placement sales of bonds or notes through negotiated agreement with compensation provided by negotiated fee if required.

Requires state comptroller approval of the terms and conditions of any such sales.

Designates underwriting and private placement costs as preliminary costs under Local Finance Law Section 11.00.