NY State Senate Bill 2017-S5198

Senate Bill S5198

Signed By Governor

2017-2018 Legislative Session

Authorizes the village of Hoosick Falls, county of Rensselaer, to issue certain bonds

download bill text pdf

Archive: Last Bill Status - 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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Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Aug 21, 2017	signed chap.245
Aug 09, 2017	delivered to governor
Jun 20, 2017	returned to senate passed assembly ordered to third reading rules cal.594 substituted for a6664
May 23, 2017	referred to local governments delivered to assembly passed senate home rule request
May 15, 2017	advanced to third reading
May 10, 2017	2nd report cal.
May 09, 2017	1st report cal.900
Mar 21, 2017	reported and committed to finance
Mar 13, 2017	referred to local government

Votes

- May 23, 2017 - Floor Vote
  S5198
  
  60
  
  Aye
  
  2
  
  Nay
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: May 23, 2017
      
      aye (60)
      
      Addabbo Jr.
      
      Akshar
      
      Alcantara
      
      Amedore
      
      Avella
      
      Bailey
      
      Bonacic
      
      Boyle
      
      Breslin
      
      Brooks
      
      Carlucci
      
      Comrie
      
      Croci
      
      DeFrancisco
      
      Diaz
      
      Dilan
      
      Felder
      
      Flanagan
      
      Funke
      
      Gallivan
      
      Gianaris
      
      Golden
      
      Griffo
      
      Hamilton
      
      Hannon
      
      Helming
      
      Hoylman-Sigal
      
      Jacobs
      
      Kaminsky
      
      Kennedy
      
      Klein
      
      Krueger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Latimer
      
      Little
      
      Marcellino
      
      Marchione
      
      Montgomery
      
      Murphy
      
      O'Mara
      
      Ortt
      
      Peralta
      
      Persaud
      
      Phillips
      
      Ranzenhofer
      
      Ritchie
      
      Rivera
      
      Robach
      
      Savino
      
      Serino
      
      Serrano
      
      Seward
      
      Squadron
      
      Stavisky
      
      Stewart-Cousins
      
      Tedisco
      
      Valesky
      
      Young
      
      nay (2)
      
      Parker
      
      Sanders Jr.
  Mar 21, 2017 - Local Government Committee Vote
  S5198
  
  8
  
  Aye
  
  0
  
  Nay
  
  1
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Local Government Committee Vote: Mar 21, 2017
      
      aye (8)
      
      Boyle
      
      Brooks
      
      Kaminsky
      
      Latimer
      
      Marchione
      
      Murphy
      
      Ortt
      
      Ritchie
      
      aye wr (1)
      
      Carlucci
  May 9, 2017 - Finance Committee Vote
  S5198
  
  37
  
  Aye
  
  0
  
  Nay
  
  0
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Finance Committee Vote: May 9, 2017
      
      aye (37)
      
      Avella
      
      Bailey
      
      Bonacic
      
      Boyle
      
      Breslin
      
      Carlucci
      
      Comrie
      
      Diaz
      
      Dilan
      
      Felder
      
      Gallivan
      
      Golden
      
      Griffo
      
      Hannon
      
      Kaminsky
      
      Kennedy
      
      Krueger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Little
      
      Marcellino
      
      Marchione
      
      Montgomery
      
      O'Mara
      
      Parker
      
      Peralta
      
      Ranzenhofer
      
      Ritchie
      
      Rivera
      
      Robach
      
      Savino
      
      Seward
      
      Squadron
      
      Stavisky
      
      Valesky
      
      Young

2017-S5198 (ACTIVE) - Details

See Assembly Version of this Bill:: A6664
Law Section:: Rensselaer County

2017-S5198 (ACTIVE) - Summary

Authorizes the village of Hoosick Falls, county of Rensselaer, to issue certain bonds to reimburse the village for extraordinary expenses incurred in connection with the discovery of perfluorooctanoic acid (PFOA).

2017-S5198 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S5198

 TITLE OF BILL :  An act authorizing the village of Hoosick Falls,
county of Rensselaer, to issue certain bonds

 PURPOSE :

To allow the Village of Hoosick Falls, to issue serial bonds for the
specific purpose of reimbursing the village for payments made by the
village general fund, water fund and sewer fund for extraordinary
expenses incurred by the village as a direct result of the discovery
of the contamination of the village's municipal water supply by the
hazardous substance known as perfluorooctanoic acid (PFOA).

 SUMMARY OF PROVISIONS :

Section 1: Authorizes the Village of Hoosick Falls to issue serial
bonds, on or before December 31, 2017, for the specific purpose of
reimbursing the village for payments made by the village from its
general fund, water fund and sewer fund for extraordinary expenses it
incurred and extraordinary revenue losses suffered by its water fund
and sewer fund as a result of the discovery of the contamination of
the village's municipal water supply by the hazardous substance now as
perfluorooctanonic acid (PFOA).

Section 2: Declares the public purpose of the issuance of serial

bonds, a not to exceed amount of the aggregate principal and the
period of probable usefulness. The state Comptroller, after a review
of extraordinary expenses shall confirm the actual amount of such
bonds issued to reimburse the village.

Section 3: Authorizes the village to levy an annual tax on the
properties of the village in an amount sufficient to pay the annual
debt service on such serial bonds.

Section 4: Authorizes the village to issue bond anticipation notes
under the local finance law.

Section 5: Effective date.

 JUSTIFICATION :

In 2014, it was discovered that the Village of Hoosick Falls'
municipal water supply had been contaminated by the hazardous
substance known as perfluorooctanoic acid (PFOA) which the State
Department of Environmental Conservation (DEC) has alleged is
associated with one of more inactive hazardous waste disposal sites,
located in the Village or its vicinity. Because of the contamination,
the village, beginning in 2014, incurred extraordinary unbudgeted
costs and suffered extraordinary deficiencies in budgeted revenues in
its water fund and its sewer fund. The extraordinary unbudgeted costs
included costs for, among other things, engineering, testing, legal
and public relations expenses. The aggregate of such unbudgeted costs
incurred currently exceeds $844,000. The extraordinary deficiencies in
budgeted revenues in fiscal years 2014-2015 through 2016-2017 is
approximately $255,532. The combined extraordinary unbudgeted costs
and revenue deficiencies is approximately $1,100,500. DEC, along with
two corporations, Saint-Gobain Performance Plastics and Honeywell
International, entered into an Order of Consent and Administrative
Settlement in June 2016 with respect to such contamination. As
contemplated by the DEC order, Saint Gobain and Honeywell have paid
for a water purification system for the Village and are currently in
negotiations with the Village for reimbursement for such extraordinary
costs, and lost revenues. However, the Village and the aforementioned
corporations do not know at this time if or when such negotiations
will be concluded and approved.
 PRIOR LEGISLATIVE HISTORY :

New bill.

2017-S5198 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5198
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                              March 13, 2017
                                ___________
 
 Introduced by Sen. MARCHIONE -- read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government
 
 AN  ACT  authorizing the village of Hoosick Falls, county of Rensselaer,
   to issue certain bonds
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. The village of Hoosick Falls, in the county of Rensselaer,
 is hereby authorized to issue serial bonds, subject to the provisions of
 this act, on or before December 31, 2017, for  the  specific  object  or
 purpose  of reimbursing the village for (i) payments made by the village
 from the village general fund, water fund and sewer  fund  for  extraor-
 dinary  expenses  incurred by the village and (ii) extraordinary revenue
 losses suffered by the  village  water  fund  and  sewer  fund,  all  in
 connection  with or as a result of the discovery of the contamination of
 the village's municipal water supply by the hazardous substance known as
 perfluorooctanoic acid (or PFOA). "Extraordinary expenses"  as  used  in
 this  section  shall  mean those operating and capital costs directly or
 indirectly related to or resulting from (a) such contamination, (b)  the
 reduction  or  elimination  of  the contamination, (c) negotiations with
 parties alleged to bear legal responsibility for the contamination,  and
 (d)  the issuance of notes by the village under the local finance law to
 finance any of  the  foregoing  and  any  extraordinary  revenue  losses
 described  above,  including,  without limitation, costs for engineering
 services, testing services, legal services,  and  public  relations  and
 communication   services,  as  well  as  other  related  village  costs.
 "Extraordinary revenue losses" as used in this section  shall  mean  the
 extent  to  which,  in the aggregate, budgeted water fund and sewer fund
 revenues exceeded actual water fund and sewer fund revenues received  by
 the village in village fiscal years 2014-15, 2015-16, and 2016-17.
   §  2.  Notwithstanding  the  provisions  of section 11.00 of the local
 finance law, the specific object or purpose referred to in  section  one
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD10612-01-7

 S. 5198                             2
 
 of  this act is hereby declared to be a public purpose which the village
 of Hoosick Falls is authorized to accomplish with the issuance of serial
 bonds in an aggregate principal amount not to exceed  one  million  five
 hundred  thousand  dollars ($1,500,000); provided, that no such bonds to
 reimburse the  village  for  the  extraordinary  expenses  incurred  and
 extraordinary  losses  suffered  shall  be  issued until the state comp-
 troller shall first  review  and  confirm  the  actual  amount  of  such
 extraordinary  expenses  and  extraordinary revenue losses, and that the
 amount of such bonds issued to reimburse the village  for  the  extraor-
 dinary  expenses  incurred and the extraordinary revenue losses suffered
 shall not exceed the amount certified  by  the  state  comptroller.  The
 period  of  probable usefulness of such objects or purposes shall be ten
 (10) years.
   § 3. The village of Hoosick Falls is  hereby  authorized  to  levy  an
 annual  tax  on the properties of the village in an amount sufficient to
 pay the annual debt service on such  serial  bonds;  provided,  however,
 that nothing in this section shall be construed to preclude such village
 from  collecting all or a portion of such debt service through water and
 sewer charges using the same formula as other water and sewer charges.
   § 4. In anticipation of the issuance and sale of  such  serial  bonds,
 the  village is hereby authorized to issue bond anticipation notes under
 the local finance law.
   § 5. This act shall take effect immediately.

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