Bill Text: NY A08122 | 2019-2020 | General Assembly | Introduced
Bill Title: Authorizes the Battery Park city authority to issue bonds and notes for certain programs.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2019-12-12 - signed chap.628 [A08122 Detail]
Download: New_York-2019-A08122-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 8122 2019-2020 Regular Sessions IN ASSEMBLY June 3, 2019 ___________ Introduced by M. of A. NIOU -- read once and referred to the Committee on Corporations, Authorities and Commissions AN ACT to amend the public authorities law, in relation to the Battery Park city authority The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 1 of section 1977-a of the public authorities 2 law is amended by adding a new paragraph (f) to read as follows: 3 (f) Additional authorizations. For the purpose of financing capital 4 costs in connection with a program of infrastructure construction, 5 improvements and other capital expenditures for the project area, the 6 authority may, in addition to the authorizations contained elsewhere in 7 this title, borrow money by issuing bonds and notes in an aggregate 8 principal amount not exceeding five hundred million dollars, plus a 9 principal amount of bonds or notes issued (i) to fund any related debt 10 service reserve fund, (ii) to provide capitalized interest, and (iii) to 11 provide for fees and other charges and expenses including any underwrit- 12 ers' discounts, related to the issuance of such bonds or notes, all as 13 determined by the authority, excluding bonds and notes issued to refund 14 outstanding bonds and notes issued pursuant to this section. 15 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD13163-01-9
