NY S08387

Amends Section 54.40 of the local finance law to extend the deadline for Yonkers to issue serial bonds or notes under special provisions from June 30, 2022 to June 30, 2023

Permits the city of Yonkers to arrange private sale underwriting of bonds or notes through negotiated agreements, subject to state comptroller approval

Allows compensation for underwriting to be provided either through negotiated fees or by selling bonds or notes to an underwriter below par value plus accrued interest

Authorizes private placement sales of bonds or notes through negotiated agreement with compensation by negotiated fee if required

Classifies underwriting and private placement costs as preliminary costs under Section 11.00 of the local finance law