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NY A06592
Bill
Status
6/30/2023
Primary Sponsor
Edward Braunstein
Click for details
AI Summary
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Extends deadline for New York City bond and note sales authority from June 30, 2023 to June 30, 2024, allowing the mayor and comptroller to market bond issues and sell bonds at private sale through the extended date.
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Extends deadline for issuing variable rate bonds and notes from July 15, 2023 to July 15, 2024, with variable interest rates subject to a maximum rate cap and limited to 25 percent of the city's debt limit.
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Extends deadline for interest rate exchange agreements and refunding bonds authorized by the mayor and comptroller from July 15, 2023 to July 15, 2024.
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Extends the New York State Financial Emergency Act protections for the city through July 1, 2024, maintaining the pledge and agreement that the state will not take actions substantially impairing the Financial Control Board's authority during control periods.
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Extends until July 15, 2024 the authorization for the city to finance capital projects by issuing bonds or notes without requiring a minimum down payment contribution.
Legislative Description
Extends certain provisions relating to the sale of bonds and notes of the city of New York, the issuance of bonds or notes with variable rates of interest, interest rate exchange agreements of the city of New York, the refunding of bonds, and the down payment for projects financed by bonds; extends the New York state financial emergency act for the city of New York; makes further amendments relating to the effectiveness thereof.
Last Action
signed chap.152
6/30/2023