Legalizes, validates, ratifies and confirms certain acts and proceedings of the town board of the town of Thurman, Warren county, in relation to the issuance of obligations for the financing of alternate water supply systems for five homes as required by a consent order of the department of environmental conservation and also for a municipal building.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A11157A
SPONSOR: Rules (Stec) TITLE OF BILL: An act to legalize, validate, ratify and confirm
certain acts and proceedings of the town board of the town of Thurman,
Warren county, New York, in relation to the issuance of obligations for
the financing of alternate water supply systems for five homes as
required by a consent order of the department of environmental conserva-
tion and also for a municipal building
PURPOSE:
Authorizes the Town of Thurman to correct an error that occurred when
signing a Bond Anticipation Note.
SUMMARY OF PROVISIONS:
Section 1- Outlines the actions of the town of Thurman relating to
adopting and bond resolution and subsequent BAN.
Section 2- Validates, ratifies and legalizes the actions of the town in
relation to issuance of a specific BAN; and authorizes the town to issue
bonds or bond anticipation renewal notes to continue financing the
objects and purposes authorized in bond resolutions.
Section 3- Except as otherwise provided in this act, any obligations
issued pursuant to this act shall be issued in accordance with the
provisions of the local finance law.
Section 4-If any clause, sentence, subdivision, paragraph, section or
part of this act be adjudged by any court of competent jurisdiction to
be invalid, such judgment shall not affect, impair or invalidate the
remainder thereof, but shall be confined in its operation to the clause,
sentence, subdivision, paragraph, section or part thereof directly
involved in the controversy in which such judgment shall have been
rendered.
Section 5- Effective date
JUSTIFICATION:
Towns located in the Adirondack Park must get State Comptroller's Office
approval to take out a bond anticipation note if more than 30 percent of
the assessed value of their town is made up of state-owned land. In
Thurman, state owned land makes up 37.17 percent of the assessed value.
In December 2016 the Town Board authorized the bonding to install two
new wells and hook up five homes and construct a new building not real-
izing the town was above the 30 percent threshold of state owned proper-
ty.
LEGISLATIVE HISTORY:
New Bill
FISCAL IMPLICATIONS:
None to the state
EFFECTIVE DATE:
This act shall take effect immediately.
STATE OF NEW YORK
________________________________________________________________________
11157--A
IN ASSEMBLY
June 11, 2018
___________
Introduced by COMMITTEE ON RULES -- (at request of M. of A. Stec) --
read once and referred to the Committee on Local Governments --
committee discharged, bill amended, ordered reprinted as amended and
recommitted to said committee
AN ACT to legalize, validate, ratify and confirm certain acts and
proceedings of the town board of the town of Thurman, Warren county,
New York, in relation to the issuance of obligations for the financing
of alternate water supply systems for five homes as required by a
consent order of the department of environmental conservation and also
for a municipal building
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Legislative findings. It is hereby found and determined
2 that the town board of the town of Thurman, county of Warren:
3 (a) duly adopted a bond resolution dated December 27, 2016 for the
4 purpose of installation of water supply systems for five homes pursuant
5 to a consent order of the department of environmental conservation and
6 for a municipal building;
7 (b) subsequently issued a bond anticipation note in the principal
8 amount of $313,000 on May 31, 2017;
9 (c) made a principal payment of $13,000 on May 31, 2018, leaving
10 $300,000 in principal outstanding; and
11 (d) with respect to the issuance of the bond anticipation note, failed
12 to obtain the permission of the state comptroller pursuant to paragraph
13 3 of section 104.10 of the local finance law prior to the issuance of
14 such bond anticipation note.
15 § 2. Notwithstanding the defects described in section one of this act
16 relating to the bond anticipation note of the town of Thurman, the issu-
17 ance of such note is hereby validated, ratified and legalized. Such town
18 is hereby authorized to issue bond anticipation renewal notes and bonds
19 to refinance such note.
20 § 3. Except as otherwise provided in this act, any obligations issued
21 pursuant to this act shall be issued in accordance with the provisions
22 of the local finance law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD16234-02-8
A. 11157--A 2
1 § 4. If any clause, sentence, subdivision, paragraph, section or part
2 of this act be adjudged by any court of competent jurisdiction to be
3 invalid, such judgment shall not affect, impair or invalidate the
4 remainder thereof, but shall be confined in its operation to the clause,
5 sentence, subdivision, paragraph, section or part thereof directly
6 involved in the controversy in which such judgment shall have been
7 rendered.
8 § 5. This act shall take effect immediately.
