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Council considers bond increases and a technical amendment to Local Law 12 (485‑a) ahead of tax‑roll deadline
Summary
Finance staff proposed increasing a $2 million bond for JSEB phase 3 and planning further short‑term financing to reach $10 million; the Assessment Department asked to amend Local Law 12 of 2019 to reconcile discrepancies with the state's 485‑a enabling legislation before the taxable‑status date.
Mike Kinsera, Commissioner of Finance, told the council the administration is seeking to increase a $2,000,000 bond allocation for the JSEB phase‑3 project; staff said the additional short‑term financing would not negatively affect the city's bond rating and plans call for further increases later this fiscal year to…
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