S T A T E   O F   N E W   Y O R K
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                                  5483--A
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 12, 2019
                                ___________
 
 Introduced  by M. of A. LUPARDO -- read once and referred to the Commit-
   tee on  Local  Governments  --  committee  discharged,  bill  amended,
   ordered reprinted as amended and recommitted to said committee
 
 AN  ACT  making  certain  findings  and  determinations  with respect to
   certain bond anticipation notes issued by the city school district  of
   the city of Binghamton, and authorizing the issuance of obligations of
   such school district with respect thereto
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Legislative findings. It is  hereby  found  and  determined
 that the city school district of the city of Binghamton had duly adopted
 a bond resolution on February twelfth, two thousand thirteen authorizing
 the  construction  of  a  new  Mac Arthur Elementary School at a maximum
 estimated cost of seventy-nine  million  five  hundred  thirty  thousand
 dollars  and  authorizing  the  issuance  of serial bonds of such school
 district not exceeding seventy-seven million eight  hundred  forty-three
 thousand dollars to pay a portion of the cost thereof and that, pursuant
 to  such bond resolution, such school district has heretofore issued the
 following obligations:
   (a) a bond anticipation note in the principal amount of twenty million
 dollars issued on November twenty-first, two  thousand  thirteen,  which
 matured on November twenty-first, two thousand fourteen;
   (b)  a bond anticipation note in the principal amount of sixty million
 dollars issued on November twenty-first, two  thousand  fourteen,  which
 matured November twentieth, two thousand fifteen, constituting a renewal
 financing  of  twenty  million  dollars and a second series of new money
 original financing of forty million dollars;
   (c) a bond anticipation  renewal  note  in  the  principal  amount  of
 fifty-nine  million six hundred eighty thousand dollars issued on Novem-
 ber twentieth, two thousand fifteen, which  matured  on  November  eigh-
 teenth, two thousand sixteen;

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

                                                            LBD06345-02-9

 A. 5483--A                          2
 
   (d)  a bond anticipation renewal note in the principal amount of twen-
 ty-six million dollars issued  on  November  seventeenth,  two  thousand
 sixteen, which matured on November seventeenth, two thousand seventeen;
   (e)  a bond anticipation renewal note in the principal amount of twen-
 ty-five million four hundred ninety thousand dollars issued on  November
 sixteenth,  two thousand seventeen, which matured on November sixteenth,
 two thousand eighteen; and
   (f) a bond anticipation renewal note in the principal amount of  twen-
 ty-four  million  nine hundred forty thousand dollars issued on November
 sixteenth, two thousand eighteen, which matures on  November  fifteenth,
 two thousand nineteen.
   § 2. Notwithstanding the provisions of paragraph b of section 23.00 of
 the  local  finance law, the bond anticipation renewal note described in
 subdivision (f) of section one of this  act,  hereby  authorized  to  be
 renewed,  and  the  maturity thereof, including the maturity of renewals
 thereof, may extend for a period not to exceed seven  years  beyond  the
 respective  original  date of issue of such bond anticipation note, with
 annual redemption of a portion thereof consistent with the  amortization
 requirements of section 21.00 of the local finance law.
   § 3. This act shall take effect immediately.