New York A00047 authorizes the town of Massena to issue bonds to cover pension contributions for former Massena Memorial Hospital employees.
New York A00047 allows the town of Massena to issue up to $5 million in serial bonds to address pension contribution deficits for former Massena Memorial Hospital employees. The bonds will be issued under the local finance law and are intended to cover the town's general fund deficits. The town is authorized to issue bond anticipation notes in anticipation of the bond sale and can levy a tax to cover bond principal and interest payments. The act takes effect immediately.
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