Amends the village of Washingtonville deficit financing act to extend the time frames for the issuance of certain bonds by the village of Washingtonville.
STATE OF NEW YORK
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8725--A
IN SENATE
March 4, 2024
___________
Introduced by Sen. SKOUFIS -- 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
AN ACT to amend the village of Washingtonville deficit financing act, in
relation to the issuance of certain bonds
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 2 of chapter 206 of the laws of 2023, constituting
2 the village of Washingtonville deficit financing act, is amended to read
3 as follows:
4 § 2. Bonds. The village of Washingtonville, Orange county, is hereby
5 authorized to issue serial bonds, subject to the provisions of section
6 10.10 of the local finance law, on or before [November 30, 2024] June
7 30, 2025, in an aggregate principal amount not to exceed $4,500,000 for
8 the specific object or purpose of liquidating the accumulated deficits
9 of the general fund, water fund, sewer fund and capital projects fund as
10 of [May 31, 2023] February 28, 2023, including the remaining principal
11 amount of any budget, deficiency and/or revenue anticipation notes
12 outstanding at the time of said issuance of said serial bonds or notes
13 authorized pursuant to this act. In anticipation of the issuance and
14 sale of such serial bonds, bond anticipation notes are hereby authorized
15 to be issued.
16 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD14730-03-4
