Extends provisions for bond sales, variable interest rates, interest rate exchanges, bond refunding, and down payments for city projects; extends the.
This bill amends the local finance law to extend certain provisions related to the sale of bonds and notes by the city of New York, allowing for the issuance of bonds or notes with variable rates of interest and interest rate exchange agreements. It also extends the authority to refund bonds and provides for down payments for projects financed by bonds. Additionally, the bill extends the New York State Financial Emergency Act for the city of New York and makes further amendments to ensure the effectiveness of these provisions. The changes apply to bonds issued before July 1, 2027.
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