Bill > A02734

This bill amends the local finance law to extend the city of Buffalo's ability to market serial bonds or notes through more flexible mechanisms until June 30, 2026. Specifically, the bill allows the city to sell bonds or notes through private sales with negotiated agreements, even if such sales would normally be restricted by existing law. The city can arrange underwriting through private sales, either by negotiating fees or selling bonds to an underwriter at a price below their par value plus accrued interest. These actions must still receive approval from the state comptroller. This provision is subject to the Buffalo Fiscal Stability Authority's oversight and is designed to give the city more financial flexibility in issuing and selling municipal bonds. The change extends a previously existing provision by moving the expiration date from June 30, 2025 to June 30, 2026, effectively providing the city with an additional year to utilize these alternative bond marketing strategies.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A2734