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A10707 Summary:

BILL NO    A10707 

SAME AS    SAME AS S07736

SPONSOR    Rules (Jaffee)

COSPNSR    Zebrowski, Calhoun, Rabbitt

MLTSPNSR   



Enacts the "Rockland county deficit financing act" to authorize the county of
Rockland to issue bonds.

A10707 Actions:

BILL NO    A10707 

06/15/2012 referred to local governments
06/20/2012 reported referred to ways and means
06/20/2012 reported referred to rules
06/21/2012 reported 
06/21/2012 rules report cal.559
06/21/2012 ordered to third reading rules cal.559
06/21/2012 home rule request
06/21/2012 passed assembly
06/21/2012 delivered to senate
06/21/2012 REFERRED TO RULES

A10707 Votes:

BILL:A10707 DATE:06/21/2012MOTION: YEA/NAY:134/9
Abbate
Y
Canestr
Y
Friend
Y
Jordan
Y
McDonou
Y
Quart
Y
Simotas
Y
Abinant
Y
Castell
Y
Gabrysz
Y
Katz
Y
McEneny
Y
Ra
NO
Skartad
Y
Amedore
Y
Castro
Y
Galef
Y
Kavanag
Y
McKevit
Y
Rabbitt
Y
Smardz
Y
Arroyo
Y
Ceretto
Y
Gantt
Y
Kearns
Y
McLaugh
NO
Raia
NO
Stevens
Y
Aubry
Y
Clark
Y
Gibson
Y
Kellner
Y
Meng
ER
Ramos
Y
Sweeney
Y
Barclay
Y
Colton
Y
Giglio
Y
Kolb
Y
Mill D 
NO
Reilich
Y
Tedisco
Y
Barrett
Y
Conte
ER
Glick
Y
Lancman
ER
Mill JM
Y
Reilly
Y
Tenney
Y
Barron
ER
Cook
Y
Goldfed
Y
Latimer
Y
Mill MG
Y
Rive J 
Y
Thiele
Y
Benedet
Y
Corwin
Y
Goodell
NO
Lavine
Y
Millman
Y
Rive N 
Y
Titone
Y
Blanken
Y
Crespo
Y
Gottfri
Y
Lentol
Y
Montesa
Y
Rive PM
Y
Titus
Y
Boyland
Y
Crouch
Y
Graf
ER
Lifton
Y
Morelle
Y
Roberts
Y
Tobacco
Y
Boyle
Y
Curran
Y
Gunther
Y
Linares
Y
Moya
Y
Robinso
Y
Walter
Y
Braunst
Y
Cusick
ER
Hanna
NO
Lope PD
Y
Murray
Y
Rodrigu
Y
Weinste
Y
Brennan
Y
Cymbrow
Y
Hawley
Y
Lope VJ
Y
Nolan
Y
Rosenth
Y
Weisenb
Y
Brindis
Y
DenDekk
Y
Heastie
Y
Losquad
Y
Oaks
Y
Russell
Y
Weprin
Y
Bronson
Y
Dinowit
Y
Hevesi
Y
Lupardo
Y
O'Donne
Y
Ryan
Y
Wright
Y
Brook K
Y
Duprey
Y
Hikind
Y
Magee
Y
Ortiz
Y
Saladin
NO
Zebrows
Y
Burling
Y
Englebr
Y
Hooper
Y
Magnare
Y
Palmesa
Y
Sayward
Y
Mr Spkr
Y
Butler
Y
Espinal
Y
Jacobs
Y
Maisel
Y
Paulin
Y
Scarbor
Y
Cahill
Y
Farrell
Y
Jaffee
Y
Malliot
NO
Peoples
Y
Schimel
Y
Calhoun
Y
Finch
Y
Jeffrie
ER
Markey
Y
Perry
Y
Schimmi
Y
Camara
Y
Fitzpat
NO
Johns
Y
Mayer
Y
Pretlow
Y
Simanow
Y

A10707 Memo:

BILL NUMBER:A10707

TITLE OF BILL:
An  act  authorizing  the  county  of  Rockland  to  issue  bonds; and
providing for the repeal of such provisions upon expiration thereof

PURPOSE OR GENERAL IDEA OF BILL:
The purpose of this bill is to authorize the county of  Rockland  (the
"County")  to  issue  up  to  $80  million  of  bonds to liquidate the
projected accumulated deficit in its general fund for the fiscal  year
ending December 31, 2010, December 31, 2011 and December 31, 2012.

SUMMARY OF SPECIFIC PROVISIONS:
The County is authorized to issue bonds on or before December 31, 2013
in  an  aggregate  principal  amount not to exceed $80,000,000 for the
specific object or purpose of liquidating  the  projected  accumulated
deficit  in the general fund of such county for the fiscal year ending
December 31, 2010,  December  31,  2011  and  December  31,  2012.  In
anticipation  of  the issuance of the bonds authorized to be issued by
this act, the  issuance  and  sale  of  bond  anticipation  notes  are
authorized.

For  each  fiscal  year  during  the  time  bonds  and/or notes issued
pursuant to this act  are  outstanding,  the  County  Executive  shall
submit  the proposed budget to the State Comptroller thirty days prior
to the scheduled county legislature's vote  on  the  adoption  of  the
final budget. The State Comptroller shall examine the proposed budget,
recommendations  and the county shall make adjustments to the proposed
budget consistent with any recommendations.

JUSTIFICATION:
The County needs state legislative approval to finance  the  projected
accumulated  $80  million  deficit over a ten year period.  The County
increased property taxes by 30% in the County's adopted  2012  budget,
is   currently   negotiating   with  its  public  employee  collective
bargaining  units  to  control  personnel  costs,  and  is   otherwise
evaluating  its policy options to address significant increases in the
costs of  state  retirement  fund  contributions  and  unfunded  state
mandated service costs during this very difficult economic environment
for   all  local  governments.  The  County  is  also  evaluating  the
operations and possible disposition of its nursing home which requires
significant annual operating subsidies. By local law, the  County  has
imposed  a  multi-year  financial  planning  requirement to facilitate
understanding of revenue and expenditure  trends  and  support  fiscal
management over a multi-year time horizon.

PRIOR LEGISLATIVE HISTORY:
None

FISCAL IMPLICATIONS:
None

EFFECTIVE DATE:
Immediately