Bronx, NY – Senator Luis Sepúlveda proudly announces that Governor Kathy Hochul has signed Bill 2023-S9416 into law. This essential legislation enhances New York City’s financial flexibility by extending the city’s ability to sell and manage bonds effectively.
Senator Sepúlveda’s Statement: «I am delighted that Governor Kathy Hochul has signed Bill 2023-S9416 into law. This law is crucial for maintaining New York City’s fiscal health and efficiency. By allowing the city to sell bonds, manage interest rates, and make strategic financial agreements, we ensure continued funding for essential projects that benefit all New Yorkers.
I thank Governor Hochul for her leadership and support, as well as my colleagues in the Senate and Assembly for their collaboration. This law represents our commitment to a brighter, more secure future for New York City.»
About the Bill: Bill 2023-S9416 amends the Local Finance Law, extending provisions that enable New York City to manage and sell its bonds through various financial mechanisms. These extensions are valid until mid-2025, ensuring continued access to vital financial tools.
