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NY A09671
Bill
Status
6/28/2024
Primary Sponsor
Edward Braunstein
Click for details
AI Summary
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Extends deadline for New York City bond and note sales from June 30, 2024 to June 30, 2025, allowing continued private sale marketing through this extended date.
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Extends deadline for variable rate bond issuance from July 15, 2024 to July 15, 2025, maintaining the 25 percent limit on total principal amount of such bonds.
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Extends deadline for interest rate exchange agreements and refunding bonds from July 15, 2024 to July 15, 2025, including provisions for modified covenants on bonds issued after June 30, 1978.
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Extends deadline for City of New York bond financing without down payment requirements from July 1, 2024 to July 1, 2025 for objects with specified periods of useful life.
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Extends state pledge and agreement provisions protecting the Financial Control Board's authority through July 1, 2025, with provisions for termination once debt is paid or defeased through trust account deposits.
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.139
6/28/2024