Bill Text: NY S08141 | 2009-2010 | General Assembly | Amended

New York Senate Bill 8141 (Prior Session Legislation)

Amended

Bill Title: Authorizes the town of Fishkill to issue serial bonds in an amount not to exceed $6,500,000 for the purpose of liquidating an actual deficit in the general fund and highway fund, if approved by a majority of the electors of such town at a mandatory referendum.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2010-06-30 - PRINT NUMBER 8141B [S08141 Detail]

Download: New_York-2009-S08141-Amended.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        8141--B
                                   I N  S E N A T E
                                     June 11, 2010
                                      ___________
       Introduced  by  Sen.  SALAND -- read twice and ordered printed, and when
         printed to be committed  to  the  Committee  on  Local  Government  --
         committee  discharged,  bill amended, ordered reprinted as amended and
         recommitted to said committee -- committee discharged,  bill  amended,
         ordered reprinted as amended and recommitted to said committee
       AN ACT to authorize the town of Fishkill to issue bonds
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1.   The town of Fishkill (hereinafter  the  "town"),  in  the
    2  county  of Dutchess, is hereby authorized to issue serial bonds, subject
    3  to the provisions of section 10.10 of  the  local  finance  law,  on  or
    4  before December 31, 2011, in an aggregate principal amount not to exceed
    5  six  million five hundred thousand dollars ($6,500,000) for the specific
    6  object or purpose of liquidating  an  actual  deficit  (hereinafter  the
    7  "deficit")  in  its  general fund and highway fund accumulated as of the
    8  close of its fiscal year ending December 31, 2010.   Any action  of  the
    9  town  board authorizing the issuance of such serial bonds shall not take
   10  effect until approved by the affirmative vote of a majority of the elec-
   11  tors of the town voting thereon. The mandatory referendum shall be on  a
   12  date  to  be  selected  by resolution of the town board, but shall be no
   13  later than November 2, 2010. In anticipation of the issuance and sale of
   14  such serial bonds, bond anticipation notes are hereby authorized  to  be
   15  issued.
   16    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD17716-06-0