Authorizes the city school district of the city of Mount Vernon, New York to expend the proceeds of bonds or notes issued pursuant to the bond resolutions for the projects set forth in the bond resolutions.
STATE OF NEW YORK
________________________________________________________________________
3935
2013-2014 Regular Sessions
IN ASSEMBLY
January 29, 2013
___________
Introduced by M. of A. PRETLOW -- read once and referred to the Commit-
tee on Cities
AN ACT to authorize the city school district of the city of Mount
Vernon, New York to expend the proceeds of bonds or notes issued
pursuant to the bond resolutions for the projects set forth in the
bond resolutions
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Definitions. For the purposes of this act, "district" shall
2 mean the city school district of the city of Mount Vernon, Westchester
3 county, New York.
4 § 2. The bond resolution adopted by the district on February 9, 2000,
5 is hereby validated, ratified and confirmed notwithstanding that such
6 bond resolution authorized the issuance of obligations for more than one
7 object or purpose in violation of section 31.00 of the local finance
8 law.
9 § 3. The past and future expenditure of the proceeds of obligations
10 issued pursuant to the bond resolution adopted by the district on Febru-
11 ary 9, 2000, is hereby validated, ratified and confirmed notwithstanding
12 that a portion of such obligations was issued for a certain stated
13 object or purpose, as referred to in such bond resolution, and the
14 proceeds from such portion were or will be expended for a different
15 object or purpose referred to within such bond resolution in violation
16 of section 165.00 of the local finance law.
17 § 4. The bond resolutions adopted by the district on April 20, 2005,
18 and on April 26, 2006, are hereby validated, ratified and confirmed
19 notwithstanding that such bond resolutions authorized the issuance of
20 obligations for an object or purpose having a period of probable useful-
21 ness that does not apply to the district. Such bond resolutions shall be
22 deemed to have authorized the issuance of obligations for a period of
23 probable usefulness of 30 years as provided by subdivision 97 of para-
24 graph a of section 11.00 of the local finance law.
25 § 5. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD07724-01-3
