New York S 692: Authorizes the town of Massena to issue bonds to cover the cost of pension contributions due by the town for employees of the former Massena Memorial Hospital

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
S00692 Summary:

BILL NOS00692 

&nbsp

SAME ASSAME AS A00047

&nbsp

SPONSORSTEC

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

&nbsp

Authorizes the town of Massena to issue bonds to cover the cost of pension contributions due by the town for employees of the former Massena Memorial Hospital.

Go to top S00692 Actions:

BILL NOS00692 

&nbsp

01/08/2025REFERRED TO LOCAL GOVERNMENT

01/07/2026REFERRED TO LOCAL GOVERNMENT

Go to topS00692 Committee&nbspVotes:

Go to topS00692 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS00692 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 692

 2025-2026 Regular Sessions

 IN SENATE

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by Sen. STEC -- read twice and ordered printed, and when
 printed to be committed to the Committee on Local Government

 AN ACT to authorize the town of Massena to issue bonds to cover the cost
 of pension contributions due by the town for employees of the former
 Massena Memorial Hospital

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. (a) The town of Massena, county of Saint Lawrence, is here-
 2 by authorized to issue serial bonds, subject to the provisions of
 3 section 10.10 of the local finance law, in an aggregate principal amount
 4 not to exceed five million dollars ($5,000,000), for the specific object
 5 or purpose of liquidating actual deficits in its general fund at the
 6 close of the fiscal year as certified by the state comptroller. In
 7 anticipation of the issuance and sale of such serial bonds, bond antic-
 8 ipation notes are hereby authorized to be issued.
 9 (b) The specific object or purpose of this issuance is hereby declared
 10 to be a public purpose which the town is hereby authorized to accomplish
 11 and the period of probable usefulness thereof is hereby authorized to be
 12 thirty years.
 13 (c) Notwithstanding the provisions of any other law, general, special
 14 or local, the town board is hereby authorized to levy a tax to be
 15 collected in annual installments sufficient to pay the principal of and
 16 interest on said bonds and bond anticipation notes and to adopt a bond
 17 resolution authorizing the serial bonds authorized to be issued pursuant
 18 to this section.
 19 (d) Amounts provided from the proceeds of obligations issued pursuant
 20 to this section in excess of the amount of the deficit as confirmed by
 21 the state comptroller shall be accounted for in the same manner as
 22 prescribed by the state comptroller pursuant to section 36 of the gener-
 23 al municipal law.
 24 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00101-01-5

Go to top 

• 

 Sitemap 

 Request Information 

 Directions and Maps