A09520

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

This bill amends the local finance law to extend certain provisions relating to bonds and notes of the city of Yonkers until June 30, 2027. Specifically, it allows the city to arrange for the underwriting of its bonds or notes at private sale through negotiated agreement, with compensation for such underwriting provided by negotiated fee or by sale of such bonds or notes to an underwriter at a price of less than the sum of par value. The cost of such underwriting or private placement is deemed a preliminary cost for purposes of section 11.00 of the local finance law.