Senate Bill S6292

Signed By Governor
2023-2024 Legislative Session

Increases the total amount of bonds the Buffalo sewer authority may issue

download bill text pdf

Sponsored By

Current Bill Status Via A2137 - Signed by Governor


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-S6292 (ACTIVE) - Details

See Assembly Version of this Bill:
A2137
Law Section:
Public Authorities Law
Laws Affected:
Amd §1187, Pub Auth L
Versions Introduced in 2021-2022 Legislative Session:
S6769, A7068

2023-S6292 (ACTIVE) - Summary

Increases the total amount of bonds the Buffalo sewer authority may issue from two hundred fifty million to five hundred million dollars.

2023-S6292 (ACTIVE) - Sponsor Memo

2023-S6292 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6292
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              April 12, 2023
                                ___________
 
 Introduced  by  Sen. KENNEDY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Corporations,  Authorities
   and Commissions
 
 AN  ACT  to  amend the public authorities law, in relation to increasing
   the total amount of bonds the Buffalo sewer authority may issue

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision  1  of section 1187 of the public authorities
 law, as amended by chapter 244 of the laws of 2018, is amended  to  read
 as follows:
   1.  The  authority shall have power and is hereby authorized from time
 to time to issue its negotiable  bonds  in  conformity  with  applicable
 provisions  of  the  uniform  commercial  code  for any of its corporate
 purposes. The total amount of bonds issued and outstanding  at  any  one
 time  shall  not  exceed in the aggregate the sum of [two hundred fifty]
 FIVE HUNDRED million dollars, excluding bonds or notes for  the  payment
 or redemption of which there has been set aside and held in trust either
 moneys,  or direct and general obligations of, or obligations guaranteed
 by, the United States of America, or obligations secured by  such  obli-
 gations,  or any combination thereof, which are or will be sufficient to
 pay when due the  principal  or  applicable  redemption  price  and  all
 accrued interest thereon and, if such bonds or notes are to be redeemed,
 for  which notice of redemption has been given or satisfactory provision
 has been made for the giving of such notice.  The authority  shall  have
 power  from  time  to  time,  whenever  it deems refunding expedient, to
 refund any bonds by the issuance of new bonds, whether the bonds  to  be
 refunded have or have not matured or are then subject to redemption, and
 may  issue  bonds partly to refund bonds then outstanding and partly for
 any of its corporate purposes.
   § 2. This act shall take effect immediately.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01842-01-3

              

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