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 38.4 - Redemption of sinking fund bonds

Universal Citation: 2 NY Comp Codes Rules and Regs ยง 38.4

Current through Register Vol. 46, No. 39, September 25, 2024

The issuer shall notify the State Comptroller not less than 30 days prior to the date fixed for the redemption or maturity of sinking fund bonds of:

(a) the principal amount of sinking fund bonds to be redeemed;

(b) the amount to be transferred from the sinking fund account in order to pay such principal amount; and

(c) the name and account number of the entity to which such amounts shall be transferred. The State Comptroller shall effect such transfer (but only to the extent that funds are available therefor) not later than the day preceding the date fixed for redemption. Such transfer may be made on the dates specified in the agreement between the issuer and the State Comptroller or at other times agreed to by the State Comptroller.

Disclaimer: These regulations may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.