N.Y. PBA Law § 1864
This is the official text of N.Y. PBA Law § 1864, 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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Right of state to require redemption of bonds
Official statutory text
§ 1864. Right of state to require redemption of bonds. Notwithstanding\nand in addition to any provisions for the redemption of bonds which may\nbe contained in any contract with the holders of the bonds, the state\nmay, upon furnishing sufficient funds therefor, require the authority to\nredeem, prior to maturity, as a whole, any issue of bonds on any\ninterest payment date not less than twenty years after the date of the\nbonds of such issue at one hundred five per cent of their face value and\naccrued interest or at such lesser redemption price as may be provided\nin the bonds in case of the redemption thereof as a whole on the\nredemption date. Notice of such redemption shall be published in at\nleast two newspapers published and circulating respectively in the\ncities of Albany and New York at least twice, the first publication to\nbe at least thirty days before the date of redemption.\n
Status: in_force · Read it on the official government site
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