Bill
Bill > A07633
NY A07633
NY A07633Authorizes 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
05/25/2023
05/25/2023
In Committee
06/10/2023
06/10/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
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 serial bonds up to $4.5 million to liquidate the accumulated deficits in its general fund, water fund, sewer fund, and capital projects fund as of May 31, 2023. The village will be subject to the provisions of Section 10.10 of the Local Finance Law, which requires the village board to make adjustments to the proposed budget based on recommendations from the state comptroller. The bill also mandates the mayor to prepare quarterly reports on the village's budget and financial status, and to create a three-year financial plan, which must be submitted to various state officials and legislative committees.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (1)
Last Action
substituted by s7285a (on 06/10/2023)
Official Document
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