Enabling Legislation For Hoosick Falls Borrowing Passes the State Senate
by Alex Brooks
Legislation empowering the Village of Hoosick Falls to issue long-term bonding to pay for local costs associated with discovery of PFOA in the Village recently passed the New York State Senate.
Enabling Legislation For Hoosick Falls Borrowing Passes the State Senate
The legislation was introduced by Senator Kathy Marchione at the request of the Village of Hoosick Falls. Marchione’s legislation, Senate Bill S.5198, passed the Senate during the May 23 Session by a vote of 60-2. It allows the Village to issue 10 year bonds to pay off debts for professional services incurred in its response to the PFOA crisis from late 2015 though the first part of 2017 for such things as water and soil testing, engineering services, legal services, and public relations assistance. The bonds can be for any amount up to $1.5 million.
“I introduced this legislation to assist the Village of Hoosick Falls in paying for the many expenses it incurred from the PFOA contamination. Providing this expanded bonding authority will ensure the Village has the necessary flexibility, and extended time frame of 10 years, to meet its expenses, and help the community continue to move forward.” Senator Kathy Marchione said.
Senator Marchione’s legislation has an Assembly companion measure, Assembly Bill A.6664, sponsored by Assemblyman Steve McLaughlin, which has been referred to the Assembly’s Local Government Committee.
Mayor Robert Allen said he is pleased that Marchione’s bill was passed in the Senate, and he said “All eyes are now on the companion bill in the Assembly.” Allen said it has sat in committee for a couple of months, but based on recent conversations he has had with Assemblyman McLaughlin, he expects to see some action on it now that the Assembly legislative session is in its last three weeks. He said, “We’re all watching this closely, and I’m hoping we will have some good news to report soon.” [/private]