New YorkA 52982025-2026 Regular SessionHouseWALLET

Relates to bonds and notes of the city of Yonkers

Sponsored By: J. Gary Pretlow (Democratic)

Became Law

CITIESWAYS AND MEANSRULESCITIES 2

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Yonkers can use private bond sales

The law lets the City of Yonkers privately sell or negotiate underwriting for its serial bonds or notes. This only covers bonds or notes issued on or before June 30, 2026. The New York State Comptroller must approve the sale terms. Underwriters can be paid by a negotiated fee or by buying at a price below face value plus accrued interest. These underwriting or placement costs count as preliminary costs under section 11.00. This authority remains under the 1984 Yonkers financial emergency law and takes effect immediately.

Sponsors & Cosponsors

Sponsor

J. Gary Pretlow
Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 60 • No: 1

House vote • 5/28/2025

FLOOR Vote