N.Y. ACA Law § 20.23
This is the official text of N.Y. ACA Law § 20.23, part of New York’s ACA Law — part of the compiled statutory law of New York, published by the state as "ACA Law." Browse the sections below, each linked to its official government source.
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State's right to require a redemption of bonds
Official statutory text
§ 20.23. State's right to require a redemption of bonds.\nNotwithstanding and in addition to any provisions for the redemption of\nbonds which may be contained in any contract with the holders of the\nbonds of a trust, the state may, upon furnishing sufficient funds\ntherefor, require the trust to redeem, prior to maturity, as a whole,\nany issue of bonds on any interest payment date not less than twenty\nyears after the date of the bonds of such issue at one hundred five per\ncentum of their face value and accrued interest or at such lower\nredemption price as may be provided in the bonds in case of the\nredemption thereof as a whole on the redemption date. Notice of such\nredemption shall be published at least twice in at least two newspapers\npublishing and circulating respectively in the cities of Albany and New\nYork, the first publication to be at least thirty days before the date\nof redemption.\n
Status: in_force · Read it on the official government site
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