STATE OF NEW YORK
________________________________________________________________________
6411--A
2019-2020 Regular Sessions
IN SENATE
June 7, 2019
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Introduced by Sen. KAVANAGH -- (at request of the Battery Park City
Authority) -- read twice and ordered printed, and when printed to be
committed to the Committee on Rules -- committee discharged, bill
amended, ordered reprinted as amended and recommitted to said commit-
tee
AN ACT to amend the public authorities law, in relation to the Battery
Park city authority
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 1 of section 1977-a of the public authorities
2 law is amended by adding a new paragraph (f) to read as follows:
3 (f) Additional authorizations. For the purpose of financing capital
4 costs in connection with a program of infrastructure construction,
5 improvements and other capital expenditures for the project area, the
6 authority may, in addition to the authorizations contained elsewhere in
7 this title, borrow money by issuing bonds and notes in an aggregate
8 principal amount not exceeding five hundred million dollars, plus a
9 principal amount of bonds or notes issued (i) to fund any related debt
10 service reserve fund, (ii) to provide capitalized interest, and (iii) to
11 provide for fees and other charges and expenses including any underwrit-
12 ers' discounts, related to the issuance of such bonds or notes, all as
13 determined by the authority, excluding bonds and notes issued to refund
14 outstanding bonds and notes issued pursuant to this section.
15 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD09040-03-9
