Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Apr 08, 2010 |
referred to education |
Senate Bill S7415
2009-2010 Legislative Session
Sponsored By
(D, WF) Senate District
Archive: Last Bill Status - In Senate Committee Education 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
Actions
2009-S7415 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10600
- Current Committee:
- Senate Education
- Law Section:
- Education
- Versions Introduced in 2011-2012 Legislative Session:
-
A5655
2009-S7415 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7415 TITLE OF BILL : An act in relation to establishing a reserve fund to liquidate certain serial bonds issued to the Patchogue-Medford union free school district PURPOSE : To authorize Patchogue-Medford Union Free School District to establish a reserve fund to liquidate serial bonds. SUMMARY OF PROVISIONS : Section 1 authorizes the Patchogue-Medford Union Free School District to establish a reserve fund for the purpose of liquidating any serial bonds issued pursuant to chapter 109 of the law of 2006. Section 2 allows the Patchogue-Medford union Free School District to transfer monies from the general fund of such school district to the reserve fund created by this act, provided that the amount transferred from the general fund shall not exceed the amount necessary to liquidate the serial bonds issued pursuant to chapter 109 of the laws of 2006. Section 3 is the effective date. JUSTIFICATION : In June 2006, Governor Pataki signed Section 109 of the Laws of 2006
2009-S7415 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7415 I N S E N A T E April 8, 2010 ___________ Introduced by Sen. FOLEY -- read twice and ordered printed, and when printed to be committed to the Committee on Education AN ACT in relation to establishing a reserve fund to liquidate certain serial bonds issued to the Patchogue-Medford union free school district THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Notwithstanding the provisions of article 74 of the educa- tion law, the Patchogue-Medford union free school district is hereby authorized to establish a reserve fund for the purpose of liquidating any serial bonds issued pursuant to chapter 109 of the laws of 2006. S 2. Notwithstanding any other provision of law, rule or regulation to the contrary, the Patchogue-Medford union free school district may transfer monies from the general fund of such school district to the reserve fund created by this act, provided however, that the amount transferred from the general fund shall not exceed the amount necessary to liquidate the serial bonds issued pursuant to chapter 109 of the laws of 2006. S 3. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD16703-01-0
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