Vote YES for Prop One – The Bond Act
Show your support for the Bond Act by attending a press conference in your area! Bring a sign and a friend! The League will be speaking at the Long Island, Mid-Hudson and NYC events.
- Long Island: October 31 at 11:00am at The Snapper Inn, 500 Shore Dr. Oakdale, NY.
- Mid-Hudson: November 1 at 10:30am, Peekskill Waterfront
- NYC: November 3 at 10:30am at Carl Shurz Park, East 86th Street & East End Ave, New York, NY.
The purpose of the Bond Act is to authorize the creation of state debt and the sale of state bonds in the amount of up to four billion two hundred million dollars ($4,200,000,000) for certain capital projects for the purpose of making environmental improvements that preserve, enhance, and restore New York’s natural resources and reduce the impact of climate change. If approved by New Yorkers in a majority vote this Fall, the proposal would allow the State to borrow up to $4,200,000,000 to provide funding for capital projects for the following: restoration and flood risk reduction (at least $1,100,000,000), open space land conservation and recreation (up to $650,000,000), climate change mitigation (up to $1,500,000,000), and water quality improvement and resilient infrastructure (at least $650,000,000).
The proposal also would allow the State to refund the debt to take advantage of lower interest rates if the opportunity arises. To accomplish this, the proposal authorizes the State Comptroller to issue additional state bonds in sums up to or exceeding the amount of the bonds initially issued to refund, to advance refund, or otherwise repay part or all of such bonds prior to the scheduled dates of their maturity.