New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter LXXVII - New York Local Government Assistance Corporation
Subchapter C - Prompt Payment Policy
Part 9770 - Prompt Payment Policy
Section 9770.6 - Sources of funds available for payment of interest
Universal Citation: 21 NY Comp Codes Rules and Regs ยง 9770.6
Current through Register Vol. 46, No. 39, September 25, 2024
The corporation, where required pursuant to this Part, may pay interest on invoices from:
(a) moneys which represent the proceeds of the issuance of its obligations, where the contract payment itself is to be made from such moneys;
(b) moneys appropriated to the corporation and not deriving from the issuance of its obligations, where the contract payment is to be made from such moneys; or
(c) other moneys held by the corporation for the purposes of making such interest payments.
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