Bill > S08253

This bill amends the Local Finance Law to facilitate the marketing of any issue of serial bonds or notes of the City of Buffalo issued on or before June 30, 2023. It allows the city to arrange for the underwriting of its bonds or notes at private sale through negotiated agreement, with compensation provided by negotiated fee or by sale of the obligations to an underwriter at a price below par value and accrued interest. The city can also arrange for the private sale of its bonds or notes through negotiated agreement, with compensation provided by negotiated fee. The costs of such underwriting or private placement are deemed preliminary costs for the purposes of the Local Finance Law.