Assembly Bill A9455

2009-2010 Legislative Session

Removes the debt ceiling for the town of Islip resource recovery agency

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • 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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

2009-A9455 (ACTIVE) - Details

See Senate Version of this Bill:
S6171
Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd ยง2046-g, Pub Auth L

2009-A9455 (ACTIVE) - Summary

Removes the debt ceiling for the town of Islip resource recover agency.

2009-A9455 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  9455

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 6, 2010
                               ___________

Introduced by M. of A. FIELDS -- read once and referred to the Committee
  on Corporations, Authorities and Commissions

AN  ACT to amend the public authorities law, in relation to removing the
  debt ceiling for the town of Islip resource recovery agency

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Subdivision 1 of section 2046-g of the public authorities
law, as added by chapter 632 of the laws of 1982, is amended to read  as
follows:
  1.  The agency shall have the power and is hereby authorized from time
to time  to  issue  bonds  and  notes,  in  conformity  with  applicable
provisions  of the uniform commercial code, in such principal amounts as
it may determine to be necessary to pay the cost of any project  or  for
any other corporate purpose, including incidental expenses in connection
therewith  [provided such bonds and notes shall in no event exceed fifty
million dollars in outstanding indebtedness at any time, except  as  any
such higher amount has been approved in advance of issuance by the qual-
ified  voters  of  the  town  of  Islip at a public referendum conducted
pursuant to the rules and regulations of the state board of  elections].
The  agency shall have power and is hereby authorized to enter into such
agreements and perform such acts as may be required under any applicable
federal legislation to secure a federal guarantee of any bonds or notes.
The agency shall have power from time to time to  refund  any  bonds  or
notes  by  the issuance of new bonds or notes whether the bonds or notes
to be refunded have or have not matured, and may issue  bonds  or  notes
partly  to  refund  bonds  or  notes then outstanding and partly for any
other corporate purpose. Bonds or notes issued  by  the  agency  may  be
general obligations secured by the faith and credit of the agency or may
be  special  obligations  payable  solely  out of particular revenues or
other moneys as may be designated in the proceedings of the agency under
which the bonds or notes shall be authorized to be issued and subject to
any agreements with the holders of outstanding bonds and notes  pledging
any particular revenues or moneys.
  S 2. This act shall take effect immediately.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.