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NY A05140
Bill
Status
3/2/2023
Primary Sponsor
Scott Gray
Click for details
AI Summary
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Authorizes the town of Massena in Saint Lawrence County to issue serial bonds up to $5,000,000 to cover pension contribution deficits, subject to Local Finance Law section 10.10.
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Permits bond anticipation notes to be issued in advance of the serial bonds.
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Designates the bond issuance as a public purpose with a 30-year period of probable usefulness.
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Authorizes the town board to levy annual taxes sufficient to pay principal and interest on the bonds and bond anticipation notes.
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Requires any bond proceeds exceeding the certified deficit amount to be accounted for according to state comptroller guidelines under General Municipal Law section 36.
Legislative Description
Authorizes the town of Massena to issue bonds to cover the cost of pension contributions due by the town for employees of the former Massena Memorial Hospital.
Last Action
referred to local governments
1/3/2024