A06245 Summary:

BILL NOA06245A
 
SAME ASSAME AS A06245, SAME AS S04300
 
SPONSORSchimminger
 
COSPNSRPeoples-Stokes, Kearns, Corwin
 
MLTSPNSRCeretto, DiPietro
 
Amd S54.50, Loc Fin L
 
Relates to the sale of municipal obligations by the county of Erie.
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A06245 Actions:

BILL NOA06245A
 
03/18/2015referred to local governments
04/17/2015amend (t) and recommit to local governments
04/17/2015print number 6245a
05/28/2015reported referred to ways and means
06/02/2015reported referred to rules
06/09/2015reported
06/09/2015rules report cal.129
06/09/2015substituted by s4300
 S04300 AMEND= GALLIVAN
 03/11/2015REFERRED TO LOCAL GOVERNMENT
 05/12/20151ST REPORT CAL.612
 05/13/20152ND REPORT CAL.
 05/18/2015ADVANCED TO THIRD READING
 06/01/2015HOME RULE REQUEST
 06/01/2015PASSED SENATE
 06/01/2015DELIVERED TO ASSEMBLY
 06/01/2015referred to ways and means
 06/09/2015substituted for a6245a
 06/09/2015ordered to third reading rules cal.129
 06/09/2015home rule request
 06/09/2015passed assembly
 06/09/2015returned to senate
 06/29/2015DELIVERED TO GOVERNOR
 06/30/2015SIGNED CHAP.43
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A06245 Committee Votes:

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A06245 Floor Votes:

There are no votes for this bill in this legislative session.
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A06245 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         6245--A
 
                               2015-2016 Regular Sessions
 
                   IN ASSEMBLY
 
                                     March 18, 2015
                                       ___________
 
        Introduced  by  M.  of A. SCHIMMINGER, PEOPLES-STOKES, KEARNS, CORWIN --
          Multi-Sponsored by -- M. of A. CERETTO,  DiPIETRO  --  read  once  and
          referred   to   the   Committee  on  Local  Governments  --  committee
          discharged, bill amended, ordered reprinted as amended and recommitted
          to said committee
 
        AN ACT to amend the local finance law, in relation to the sale of munic-
          ipal obligations by the county of Erie
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section 1. Section 54.50 of the local finance law, as amended by chap-
     2  ter 74 of the laws of 2014, is amended to read as follows:
     3    § 54.50 Costs of sales; county of Erie. To facilitate the marketing of
     4  any  issue  of  serial bonds or notes of the county of Erie issued on or
     5  before June thirtieth, two thousand [fifteen] sixteen such  county  may,
     6  notwithstanding  any  limitations  on private sales of bonds provided by
     7  law, and subject to approval by the state comptroller of the  terms  and
     8  conditions of such sale:
     9    a.  arrange for the underwriting of its bonds or notes at private sale
    10  through negotiated agreement, compensation for such underwriting  to  be
    11  provided  by  negotiated  fee  or  by  sale of such bonds or notes to an
    12  underwriter at a price less than the  sum  of  par  value  of,  and  the
    13  accrued interest on, such obligations; or
    14    b.  arrange for the private sale of its bonds or notes through negoti-
    15  ated agreement, compensation for such sales to be provided by negotiated
    16  fee, if required. The cost of such  underwriting  or  private  placement
    17  shall be deemed a preliminary cost for purposes of section 11.00 of this
    18  chapter.
    19    § 2. This act shall take effect immediately.
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09175-02-5
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