New York S 8859: Relates to bonds and notes of the city of Yonkers

Bill Text

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S08859 Summary:

BILL NOS08859 

&nbsp

SAME ASSAME AS A09520

&nbsp

SPONSORSTEWART-COUSINS

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §54.40, Loc Fin L

&nbsp

Extends certain provisions relating to bonds and notes of the city of Yonkers until June 30, 2027.

Go to top S08859 Actions:

BILL NOS08859 

&nbsp

01/09/2026REFERRED TO CITIES 2

05/18/20261ST REPORT CAL.1131

05/19/20262ND REPORT CAL.

05/20/2026ADVANCED TO THIRD READING 

05/28/2026SUBSTITUTED BY A9520

&nbspA09520 AMEND= Pretlow

&nbsp01/14/2026referred to cities

&nbsp04/21/2026reported referred to ways and means

&nbsp04/28/2026reported 

&nbsp04/30/2026advanced to third reading cal.418

&nbsp05/04/2026home rule request

&nbsp05/04/2026passed assembly

&nbsp05/04/2026delivered to senate

&nbsp05/04/2026REFERRED TO CITIES 2

&nbsp05/28/2026SUBSTITUTED FOR S8859

&nbsp05/28/20263RD READING CAL.1131

&nbsp05/28/2026HOME RULE REQUEST

&nbsp05/28/2026PASSED SENATE

&nbsp05/28/2026RETURNED TO ASSEMBLY

&nbsp06/18/2026delivered to governor

&nbsp06/26/2026signed chap.134

Go to topS08859 Committee&nbspVotes:

Go to topS08859 Floor&nbspVotes:

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

Go to topS08859 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8859

 IN SENATE

 January 9, 2026
 ___________

 Introduced by Sen. STEWART-COUSINS -- read twice and ordered printed,
 and when printed to be committed to the Committee on Cities 2

 AN ACT to amend the local finance law, in relation to bonds and notes of
 the city of Yonkers

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

 1 Section 1. Section 54.40 of the local finance law, as amended by chap-
 2 ter 136 of the laws of 2025, is amended to read as follows:
 3 § 54.40 Bonds and notes of the city of Yonkers. Subject to the
 4 provisions of the New York state financial emergency act of nineteen
 5 hundred eighty-four for the city of Yonkers, to facilitate the marketing
 6 of any issue of serial bonds or notes of the city of Yonkers issued on
 7 or before June thirtieth, two thousand [twenty-six] twenty-seven, such
 8 city may, notwithstanding any limitations on private sales of bonds
 9 provided by law, and subject to approval by the state comptroller of the
 10 terms and conditions of such sale: (a) arrange for the underwriting of
 11 its bonds or notes at private sale through negotiated agreement, compen-
 12 sation for such underwriting to be provided by negotiated fee or by sale
 13 of such bonds or notes to an underwriter at a price of less than the sum
 14 of par value of, and the accrued interest on, such obligations; or (b)
 15 arrange for the private sale of its bonds or notes through negotiated
 16 agreement, compensation for such sales to be provided by negotiated fee,
 17 if required. The cost of such underwriting or private placement shall be
 18 deemed a preliminary cost for purposes of section 11.00 of this article.
 19 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14380-01-6

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