Bill > S05403

This bill amends the local finance law to extend the city of Buffalo's ability to market serial bonds or notes through flexible financial mechanisms. Specifically, the bill changes the expiration date for these financial arrangements from June 30, 2025 to June 30, 2026, allowing the city additional time to sell bonds and notes under special provisions. These provisions permit the city to underwrite bonds through private sales via negotiated agreements, which can include selling bonds to underwriters at slightly below par value or paying negotiated fees for placement. The bill is contextually linked to the Buffalo Fiscal Stability Authority and provides the city with more flexibility in bond sales, subject to approval by the state comptroller. By extending the date and maintaining these special financial marketing provisions, the bill aims to support the city's financial management and debt issuance strategies.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S5403