Assembly Bill A9271

Signed By Governor
2013-2014 Legislative Session

Legalizes, validates, ratifies and confirms the actions of the village board of the village of Parish notwithstanding certain defects

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Archive: Last Bill Status Via S6975 - 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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2013-A9271 (ACTIVE) - Details

See Senate Version of this Bill:
S6975
Law Section:
Villages

2013-A9271 (ACTIVE) - Summary

Legalizes, validates, ratifies and confirms the actions of the village board of the village of Parish notwithstanding certain defects.

2013-A9271 (ACTIVE) - Bill Text download pdf 

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

                                  9271

                          I N  A S S E M B L Y

                              April 7, 2014
                               ___________

Introduced  by M. of A. BARCLAY -- read once and referred to the Commit-
  tee on Local Governments

AN ACT to legalize, validate, ratify and  confirm  the  actions  of  the
  village board of the village of Parish notwithstanding certain defects

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

  Section 1. Legislative findings.  The  legislature  hereby  finds  and
determines  that  the  village  of Parish, in the county of Oswego, duly
adopted bond resolutions dated July 7, 2009, December 15, 2010 and  June
20,  2012 in order to finance the construction of certain sewer improve-
ments within the village. The village subsequently  issued  bond  antic-
ipation notes for such purpose as follows:
  (a)  that  on October 15, 2009, the village issued a bond anticipation
note in the principal amount of $415,000; that the note matured and  was
first renewed on October 15, 2010 for $415,000; that a principal payment
on the note of $7,000 was made on the note on October 14, 2011; that the
note  matured  and  was  again renewed on October 14, 2011 for $408,000;
that on October 12, 2012 a principal payment of $7,000 was made  on  the
note;  that the remaining balance of $401,000 on the note was refinanced
with partial proceeds from  a  $768,175  short-term  Clean  Water  State
Revolving  Fund  (CWSRF) financing from the New York State Environmental
Facilities Corporation, (EFC) which closed on September 27, 2012; and
  (b) in connection with the September 27,  2012  EFC  short-term  CWSRF
financing,  the  village  entered into a Project Finance Agreement (PFA)
with EFC and issued a $768,175 bond anticipation note to EFC;  and  that
pursuant  to  the  provisions  of the PFA and section 23.00 of the local
finance law pertaining to the redemption of bond anticipation notes, the
village of Parish was required to make a principal  payment  on  October
11, 2013.
  With  respect  to  the EFC bond anticipation note and PFA described in
subdivision (b) of this section, the village of Parish was required  to,
but  failed to make,  on October 11, 2013, a scheduled principal payment
pursuant to applicable provisions of section 23.00 of the local  finance

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14570-01-4

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