Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 15, 2012 |
referred to rules |
Senate Bill S7736
2011-2012 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Senate Committee Rules 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
2011-S7736 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10707
- Current Committee:
- Senate Rules
- Law Section:
- Rockland County
- Versions Introduced in 2013-2014 Legislative Session:
-
S4674, A695, A6758
2011-S7736 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7736 TITLE OF BILL: An act authorizing the county of Rockland to issue bonds; and providing for the repeal of such provisions upon expiration thereof PURPOSE OR GENERAL IDEA OF BILL: The purpose of this bill is to authorize the county of Rockland (the "County") to issue up to $80 million of bonds to liquidate the projected accumulated deficit in its general fund for the fiscal year ending December 31, 2010, December 31, 2011 and December 31, 2012. SUMMARY OF SPECIFIC PROVISIONS: The County is authorized to issue bonds on or before December 31, 2013 in an aggregate principal amount not to exceed $80,000,000 for the specific object or purpose of liquidating the projected accumulated deficit in the general fund of such county for the fiscal year ending December 31, 2010, December 31, 2011 and December 31, 2012. In anticipation of the issuance of the bonds authorized to be issued by this act, the issuance and sale of bond anticipation notes are authorized. For each fiscal year during the time bonds and/or notes issued pursuant to this act are outstanding, the County Executive shall
2011-S7736 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7736 I N S E N A T E June 15, 2012 ___________ Introduced by Sen. CARLUCCI -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT authorizing the county of Rockland to issue bonds; and providing for the repeal of such provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Short title. This act shall be known and may be cited as the "Rockland county deficit financing act". S 2. Definitions. (a) "Budget" shall mean a current operating budget of the county prepared or adopted pursuant to general, special or local law, being the annual budget and estimate of expenditures to be made during a fiscal year for the general support and current expenses of the government of the county to be paid from taxes or assessments or other current revenues of the county for such year. (b) "Comptroller" shall mean the New York state comptroller. (c) "County" shall mean the county of Rockland. (d) "County executive" shall mean the county executive of Rockland county. (e) "County legislature" shall mean the legislative body of the county of Rockland. (f) "Fiscal year" shall mean the fiscal year of the county. S 3. Bonds. The county of Rockland is hereby authorized to issue seri- al bonds, subject to the provisions of section 10.10 of the local finance law, on or before September 30, 2013, in an aggregate principal amount not to exceed eighty million dollars ($80,000,000) for the specific object or purpose of liquidating current deficits in its gener- al fund as of December 31, 2010, December 31, 2011 and December 31, 2012. In anticipation of the issuance and sale of such serial bonds, bond anticipation notes are hereby authorized to be issued. S 4. Budget review by state comptroller. During the effective period of this act, the county executive shall submit the proposed budget for the next succeeding fiscal year to the state comptroller no later than thirty days before the date scheduled for the county legislature's vote on the adoption of the final budget or the last date on which the budget EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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