Legislation allows Internet sales of public bonds
Gov. David Paterson has signed state legislation that allows Westchester County government to conduct public bond sales through nationally recognized Internet securities bidding services under a three-year pilot program.
Officials say that conducting bond sales over the Internet are not only a technological advance over the traditional methods of paper bids or fax machines but also a way for the county to save money.
“This bill will streamline the bidding process for our county, and save money on administrative costs,” said Assemblywoman Amy Paulin, D-Scarsdale, who sponsored the legislation.
The bill passed unanimously in the state Assembly and Senate.