New York Codes, Rules and Regulations
Title 2 - DEPARTMENT OF AUDIT AND CONTROL
Chapter II - Municipal Affairs
Subchapter C - Cancellation And Destruction Of Obligations
Part 55 - Cancellation And Destruction Of Obligations Of Municipalities, School Districts And District Corporations
Section 55.2 - Destruction of cancelled obligations

Bonds, corporate stocks, notes, coupons, or other evidences of indebtedness issued pursuant to the Local Finance Law or any other law, when paid, may be destroyed, after prior cancellation, by the burning, pulverizing or shredding of such obligations by the chief fiscal officer of the issuer or by his duly delegated deputy or by a duly authorized paying agent, except that registered obligations shall not be destroyed until six years after the date of payment. Such destruction, whether by burning, pulverizing or shredding, shall be effected in such a manner as will render impossible restoration of such obligations to their original form.