Bill > S00273

This bill permanently modifies local finance law regarding serial bonds and their installment structures. It requires that the first installment of serial bonds must mature no later than two years after the bond's issuance date, removing previous temporary provisions that had different maturity timelines. The bill also grants municipalities, school districts, and district corporations more flexibility in calling bond installments for redemption prior to their maturity date, allowing them to determine the amounts, timing, and terms of redemption at the time of bond issuance. Additionally, the bill removes previous complex restrictions on redemption pricing, instead allowing issuers to set redemption prices as they see fit at the time of bond issuance. This change provides local government entities with greater discretion in managing their bond financing, potentially making it easier to refinance or restructure debt according to changing financial circumstances.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S273