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S03452 Summary:

S03452 Actions:

S03452 Committee Votes:

S03452 Floor Votes:

S03452 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          3452
 
                               2019-2020 Regular Sessions
 
                    IN SENATE
 
                                    February 7, 2019
                                       ___________
 
        Introduced  by  Sen. LAVALLE -- read twice and ordered printed, and when
          printed to be committed to the Committee on Local Government
 
        AN ACT to amend chapter 699 of the laws of 1947, relating to authorizing
          the creation of Fishers Island ferry district in the town of Southold,
          Suffolk County, in relation to authorizing an increase in principal of
          bonds issued for the acquisition, construction, equipment  and  opera-
          tion  of  a public ferry for hire from Fishers Island across waters of
          Long Island Sound, subject to referendum
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Section  4 of chapter 699 of the laws of 1947 relating to
     2  authorizing the creation of Fishers Island ferry district in the town of
     3  Southold, Suffolk County, as amended by chapter 467 of the laws of 1993,
     4  is amended to read as follows:
     5    § 4. The cost of acquisition, construction and equipment of the ferry,
     6  including lands and rights or easements in lands,  shall  be  paid  from
     7  taxes levied for the fiscal year in which such expenditure is made; from
     8  surplus funds, or from the proceeds of town obligations to be issued and
     9  sold  in the manner provided by the local finance law. The town board of
    10  the town of Southold may borrow the amount needed for such purposes  and
    11  issue  town  obligations  therefor  in an aggregate principal amount not
    12  exceeding five hundred thousand dollars. Upon the adoption of  a  resol-
    13  ution  by  the  town  board,  subject  to a permissive referendum by the
    14  owners of taxable real property situate within  the  ferry  district  as
    15  shown  by the latest completed assessment roll of said town, such aggre-
    16  gate principal amount which the town board  may  borrow  and  for  which
    17  obligations  may  be issued may be increased to any amount up to but not
    18  exceeding the sum of [five] twenty million  dollars;  provided  however,
    19  the  bond  resolution authorizing the issuance of such obligations shall
    20  be subject to permissive referendum, or such resolution may be submitted
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08465-01-9
        S. 3452                             2
 
     1  to a referendum by the town board on  its  own  motion,  in  the  manner
     2  prescribed in article 7 of the town law.
     3    §  2. This act shall take effect immediately and shall apply to fiscal
     4  years beginning on and after January 1, 2021.