Bill > A01177

This bill extends the existing legal provisions that allow Erie County to sell municipal bonds (debt instruments used to fund public projects) through a private sale process. Specifically, the bill changes the expiration date for this special authorization from June 30, 2025 to June 30, 2026, which gives the county an additional year to market and sell serial bonds or notes. The existing law already permits Erie County to sell these municipal obligations through a private sale, which is typically an exception to standard public bond sale requirements, and requires approval from the state comptroller to ensure the sale's terms and conditions are appropriate. By extending the sunset date, the bill provides Erie County continued flexibility in how it can issue and sell municipal debt to fund county projects and manage its financial operations.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A1177