New York Codes, Rules and Regulations
Title 2 - DEPARTMENT OF AUDIT AND CONTROL
Chapter II - Municipal Affairs
Subchapter A - Sales Of Bonds And Notes; Debt Statements
Part 38 - Sinking Funds For Bonds Of Municipalities And School Districts
Section 38.1 - Purpose of regulations
Universal Citation: 2 NY Comp Codes Rules and Regs ยง 38.1
Current through Register Vol. 46, No. 39, September 25, 2024
Section 22.10 of the Local Finance Law provides that municipalities and school districts may issue sinking fund bonds and the State Comptroller shall maintain the sinking funds with respect to such bonds. The purpose of this Part is to establish procedures with respect to the establishment and maintenance of such sinking funds, contributions to be made to such sinking funds, the investment of amounts on deposit in such sinking funds and distributions to be made from such sinking funds.
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