New York State Assembly

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A10600 Summary:

BILL NO	A10600
SAME AS	SAME AS S07415
SPONSOR	Murray
COSPNSR
MLTSPNSR
Authorizes the Patchoque-Medford Union Free School District to establish a reserve fund to liquidate serial bonds.

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A10600 Actions:

BILL NO	A10600
04/08/2010	referred to education

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A10600 Floor Votes:

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A10600 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          10600
 
                   IN ASSEMBLY
 
                                      April 8, 2010
                                       ___________
 
        Introduced by M. of A. MURRAY -- read once and referred to the Committee
          on Education
 
        AN  ACT  in relation to establishing a reserve fund to liquidate certain
          serial  bonds  issued  to  the  Patchogue-Medford  union  free  school
          district
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 

     1    Section 1. Notwithstanding the provisions of article 74 of the  educa-
     2  tion  law,  the  Patchogue-Medford  union free school district is hereby
     3  authorized to establish a reserve fund for the  purpose  of  liquidating
     4  any serial bonds issued pursuant to chapter 109 of the laws of 2006.
     5    § 2. Notwithstanding any other provision of law, rule or regulation to
     6  the  contrary,  the  Patchogue-Medford  union  free  school district may
     7  transfer monies from the general fund of such  school  district  to  the
     8  reserve  fund  created  by  this  act, provided however, that the amount
     9  transferred from the general fund shall not exceed the amount  necessary
    10  to liquidate the serial bonds issued pursuant to chapter 109 of the laws
    11  of 2006.
    12    § 3. This act shall take effect immediately.
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets

                              [ ] is old law to be omitted.
                                                                   LBD16703-01-0

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