Scarsdale – Assemblywoman Amy Paulin (D-88) is pleased to announce that Bill A493A was signed into law Tuesday night by Governor Andrew Cuomo.
The law allows for municipalities and school districts to sell municipal bonds online, which will increase the speed and efficiency of bidding. In addition, this law will also reduce the administrative burden and costs of conducting a paper-bidding process.
“I believe this process will allow individual municipalities to raise capital quickly while saving money in the process,” Paulin said. “So much work is now done online it only makes sense that this process would be implemented. In addition, we have also seen through a 2009 pilot program that making these bonds available online has increased interest in purchasing public bonds.”