New York Local Finance Law Title 4 - LOCAL OBLIGATIONS: TERMS, FORM AND CONTENTS THEREOF; SALE AND ISSUANCE THEREOF

• 50.00 - Agency Prescribing Terms, Form and Contents of Obligations.
  50.00 Agency prescribing terms, form and contents of obligations. The finance board shall prescribe the terms, form and contents of bonds and notes. However, the...
• 51.00 - Terms, Form and Contents of Obligations.
  51.00 Terms, form and contents of obligations. Every bond and note shall contain a statement of at least the following: 1. The type of obligation....
• 52.00 - Recital of Validity in Obligations.
  52.00 Recital of validity in obligations. Any obligation issued by a municipality, school district or district corporation may contain on its face a recital in...
• 53.00 - Obligations Redeemable Prior to Maturity.
  53.00 Obligations redeemable prior to maturity. a. The agency prescribing the terms, form and contents of bonds may reserve to itself the power to call...
• 54.10 - Bonds and Notes of the City of New York; Certain Provisions.
  54.10 Bonds and notes of the city of New York; certain provisions. Subject to the provisions of the financial emergency act for the city of...
• 54.20 - Funding of Capital Expenditures Duly Appropriated in the Capital Budget for the City of New York.
  54.20 Funding of capital expenditures duly appropriated in the capital budget for the city of New York. Subject to the provisions of the New York...
• 54.30 - Costs of Sales; Bonds and Notes of the City of Buffalo.
  54.30 Costs of sales; bonds and notes of the city of Buffalo. Subject to the provisions of chapter one hundred twenty-two of the laws of...
• 54.40 - Bonds and Notes of the City of Yonkers.
  54.40 Bonds and notes of the city of Yonkers. Subject to the provisions of the New York state financial emergency act of nineteen hundred eighty-four...
• 54.50 - Costs of Sales; County of Erie.
  54.50 Costs of sales; county of Erie. To facilitate the marketing of any issue of serial bonds or notes of the county of Erie issued...
• 54.60 - Cost of Sales; City of Utica.
  54.60 Cost of sales; city of Utica. To facilitate the marketing of any issue of serial bonds of the city of Utica issued on or...
• 54.70 - Cost of Sales; City of Niagara Falls, Niagara County.
  54.70 Cost of sales; city of Niagara Falls, Niagara county. To facilitate the marketing of any issue of bonds of the city of Niagara Falls,...
• 54.80 - Cost of Sales; City of Lackawanna.
  54.80 Cost of sales; city of Lackawanna. To facilitate the marketing of any issue of serial bonds of the city of Lackawanna authorized to be...
• 54.85 - Bonds and Notes of the City of Troy.
  54.85 Bonds and notes of the city of Troy. To facilitate the marketing of any issue of serial bonds or notes of the city of...
• 54.90 - Issuance of Bonds or Notes With Variable Rates of Interest.
  54.90 Issuance of bonds or notes with variable rates of interest. a. Whenever in the judgment of the finance board the interest of a municipality...
• 55.00 - Bearer and Registered Obligations.
  55.00 Bearer and registered obligations. a. The agency prescribing the terms, form and contents of bonds shall provide for the issuance of bonds in either...
• 55.10 - Endorsements of Principal Payments on Bonds and Notes.
  55.10 Endorsements of principal payments on bonds and notes. A bond or note shall not provide for the notation of payments of principal thereon. Only...
• 56.00 - Agency Selling and Issuing Obligations.
  56.00 Agency selling and issuing obligations. a. The finance board shall be vested with the powers and duties prescribed in sections 21.00, 57.00, 58.00, 59.00,...
• 57.00 - Sale of Bonds.
  57.00 Sale of bonds. a. Bonds shall be sold only at public sale and in accordance with the procedure set forth in this section and...
• 57.10 - Guidelines for Sale of Bonds and Notes on a Negotiated Basis.
  * 57.10 Guidelines for sale of bonds and notes on a negotiated basis. The state comptroller shall promulgate rules in conformance with the state administrative...
• 58.00 - Notice of Sale of Bonds.
  58.00 Notice of sale of bonds. * a. There shall be published, at least once, not less than five nor more than thirty days before...
• 58.10 - Electronic Public Bond Sale Pilot Program.
  * 58.10 Electronic public bond sale pilot program. a. As used in this section: 1. "Closed auction" means a bond sale procedure that does not...
• 59.00 - Bids Opened Publicly; Amendments; Awards.
  59.00 Bids opened publicly; amendments; awards. * a. All bids shall be opened publicly at the time and place stated in the notice of sale,...
• 60.00 - Sale of Notes.
  60.00 Sale of notes. a. Notes may be sold at either public or private sale, but they shall not be sold on option or on...
• 60.10 - Sale of Obligations to Certain Banks and Trust Companies Authorized.
  60.10 Sale of obligations to certain banks and trust companies authorized. a. The agency selling notes of a municipality, school district or district corporation may...
• 61.00 - Execution of Obligations.
  61.00 Execution of obligations. a. All obligations, including interim bonds, shall be executed in the name of the municipality, school district or district corporation by...
• 62.00 - Interim Bonds.
  62.00 Interim bonds. The agency selling and issuing the bonds of a municipality, school district or district corporation may issue interim bonds pending the printing...
• 62.10 - Statutory Installment Bonds.
  62.10 Statutory installment bonds. a. Notwithstanding any other provisions of this chapter, if the principal amount for an object or purpose, or objects or purposes,...
• 63.00 - Bond Issues of Certain Amounts.
  63.00 Bond issues of certain amounts. a. When sold at public sale, bonds of an issue not exceeding five million dollars, whether of a single...
• 63.10 - Cancellation of Obligations.
  When obligations are paid, notwithstanding the provisions of any other general, special or local law or of article forty-six of the education law relating to...

Last modified: February 3, 2019