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Statutes » New York » PBA Law » Article 8

N.Y. PBA Law § 1812

This is the official text of N.Y. PBA Law § 1812, part of New York’s PBA Law — part of the compiled statutory law of New York, published by the state as "PBA Law." Browse the sections below, each linked to its official government source.

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Special purpose bonds and notes

Official statutory text

§ 1812. Special purpose bonds and notes. 1. The authority shall have\nthe power and is hereby authorized to issue at one time or in series\nfrom time to time special purpose bonds in an aggregate principal amount\nwhich shall not at any one time exceed seven hundred fifty million\ndollars, excluding special purpose bonds issued to refund outstanding\nspecial purpose bonds, and special purpose notes in anticipation of the\nissuance of such special purpose bonds.\n 2. The authority shall have power from time to time to renew special\npurpose notes or to issue renewal notes for such purpose, to issue\nspecial purpose bonds to pay special purpose notes, and whenever it\ndeems refunding expedient, to refund any special purpose bond by the\nissuance of new special purpose bonds, whether the bonds to be refunded\nhave or have not matured, and may issue special purpose bonds partly to\nrefund special purpose bonds then outstanding and partly for the\npurposes specified in this subtitle. The bonds issued for refunding\npurposes shall be sold and the proceeds applied to the purchase,\nredemption or payment of the bonds to be refunded.\n

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.