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Meeting Date:
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Category:
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Type:
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Subject:
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14.4 Authorization for $5,300,000.00 State Aid Loan |
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District Goals:
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Enclosure:
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File Attachment:
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Rationale:
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Advance receipt of State Aid commensurate with prior year |
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Funding:
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Resolution
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The State of New York, pursuant to Chapter 88 of the Laws of 2000, accelerated $6 million of Education State aid during the 1999-2000 fiscal year. In each of the subsequent 30 years, the aid formula enumerated in the statutes will reduce the accelerated portion by $200,000 per year. This loan is interest free. |
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Approvals:
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Recommended By: |
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Signed By: |
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Finance Department - Finance Reviewer |
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Signed By: |
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Elizabeth Janocha - Deputy Commissioner |
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Signed By: |
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John Liszewski - Commissioner |
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Signed By: |
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Matthew Gallagher - Corporation Counsel |
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Signed By: |
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Dr. Edwin M. Quezada - Superintendent of Schools |
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Vote Results:
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| Original Motion | | Member Andrea Brown Moved, Member Sheila Greenwald seconded to approve the Original motion 'The State of New York, pursuant to Chapter 88 of the Laws of 2000, accelerated $6 million of Education State aid during the 1999-2000 fiscal year. In each of the subsequent 30 years, the aid formula enumerated in the statutes will reduce the accelerated portion by $200,000 per year. This loan is interest free.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 8 Nay: 0. | | The motion Carried 8 - 0 | | | | | Rev. Steve Lopez | Yes | | Andrea Brown | Yes | | Kevin Cacace | Yes | | Dr. John Castanaro | Yes | | Abdool H. Jamal | Yes | | Dr. Rosalba Corrado Del Vecchio | Yes | | Gail Burns | Yes | | Sheila Greenwald | Yes | |
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