Facilitates the marketing of any issue of serial bonds or notes of the city of Buffalo issued on or before a certain date

Buffalo gets longer to arrange private borrowing

Effective immediately, the law extends Buffalo’s private financing authority to serial bonds or notes issued on or before June 30, 2026. The prior deadline was June 30, 2025. Buffalo can negotiate private underwriting or private sales despite legal limits on private sales. The State Comptroller must approve sale terms, and Buffalo Fiscal Stability Authority rules still apply. Underwriters can receive a negotiated fee or buy the debt below its face value plus accrued interest. Private sales can include a negotiated fee when required. Underwriting and private placement costs must count as preliminary debt-related costs. The law sets no direct household payment or benefit.