Bill Text: NY S03452 | 2019-2020 | General Assembly | Introduced
Bill Title: Relates to the Fishers Island ferry district in the town of Southold, Suffolk county.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2019-12-06 - SIGNED CHAP.592 [S03452 Detail]
Download: New_York-2019-S03452-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 3452 2019-2020 Regular Sessions IN SENATE February 7, 2019 ___________ Introduced by Sen. LAVALLE -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend chapter 699 of the laws of 1947, relating to authorizing the creation of Fishers Island ferry district in the town of Southold, Suffolk County, in relation to authorizing an increase in principal of bonds issued for the acquisition, construction, equipment and opera- tion of a public ferry for hire from Fishers Island across waters of Long Island Sound, subject to referendum The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 4 of chapter 699 of the laws of 1947 relating to 2 authorizing the creation of Fishers Island ferry district in the town of 3 Southold, Suffolk County, as amended by chapter 467 of the laws of 1993, 4 is amended to read as follows: 5 § 4. The cost of acquisition, construction and equipment of the ferry, 6 including lands and rights or easements in lands, shall be paid from 7 taxes levied for the fiscal year in which such expenditure is made; from 8 surplus funds, or from the proceeds of town obligations to be issued and 9 sold in the manner provided by the local finance law. The town board of 10 the town of Southold may borrow the amount needed for such purposes and 11 issue town obligations therefor in an aggregate principal amount not 12 exceeding five hundred thousand dollars. Upon the adoption of a resol- 13 ution by the town board, subject to a permissive referendum by the 14 owners of taxable real property situate within the ferry district as 15 shown by the latest completed assessment roll of said town, such aggre- 16 gate principal amount which the town board may borrow and for which 17 obligations may be issued may be increased to any amount up to but not 18 exceeding the sum of [five] twenty million dollars; provided however, 19 the bond resolution authorizing the issuance of such obligations shall 20 be subject to permissive referendum, or such resolution may be submitted EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD08465-01-9S. 3452 2 1 to a referendum by the town board on its own motion, in the manner 2 prescribed in article 7 of the town law. 3 § 2. This act shall take effect immediately and shall apply to fiscal 4 years beginning on and after January 1, 2021.