Relates to bonds and notes of the city of Yonkers

Yonkers gets more options for selling debt

Effective immediately, Yonkers can negotiate private sales of serial bonds or notes issued through June 30, 2026, despite statutory limits. Sales must follow the state's 1984 financial emergency law for Yonkers, with State Comptroller approval of sale terms. The city can pay underwriters through negotiated fees or prices below face value plus accrued interest. Direct negotiated private sales can include a negotiated fee if needed. Underwriting and private placement costs count as preliminary financing costs under state law. The law sets no household tax, payment, or benefit amount.