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Bill > S07285
NY S07285
NY S07285Authorizes the village of Washingtonville, Orange county, to issue serial bonds, subject to the provisions of section 10.10 of the local finance law, on or before November 30, 2024, in an aggregate principal amount not to exceed $4,500,000 for the specific object or purpose of liquidating the accumulated deficits of the general fund, water fund, sewer fund and capital projects fund.
summary
Introduced
05/19/2023
05/19/2023
In Committee
06/07/2023
06/07/2023
Crossed Over
06/10/2023
06/10/2023
Passed
07/13/2023
07/13/2023
Dead
Signed/Enacted/Adopted
07/19/2023
07/19/2023
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT in relation to enacting the "village of Washingtonville deficit financing act"
AI Summary
This bill authorizes the Village of Washingtonville, Orange County, to issue up to $4.5 million in serial bonds by November 30, 2024 to liquidate accumulated deficits in the general, water, sewer, and capital projects funds as of May 31, 2023. The village will be subject to the provisions of Section 10.10 of the Local Finance Law, including making budget adjustments based on recommendations from the State Comptroller. The bill also requires the mayor to prepare quarterly budget reports and trial balances, as well as a three-year financial plan, and to notify the State Comptroller before issuing any new debt. The bill includes a severability clause and will take effect immediately.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
SIGNED CHAP.206 (on 07/19/2023)
Official Document
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