Statute · New York Local Finance Law
N.Y. Local Fin. Law § 54.50 — Costs of sales; county of Erie
N.Y. Local Fin. Law § 54.50
- Type
- Statute
- Source
- New York Local Finance Law
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 54.50 Costs of sales; county of Erie. To facilitate the marketing of any issue of serial bonds or notes of the county of Erie issued on or before June thirtieth, two thousand twenty-seven such county may, notwithstanding any limitations on private sales of bonds provided by law, and subject to…
Citator
N.Y. Local Fin. Law § 54.50 — Costs of sales; county of Erie is in force in the current edition of the Code, and nothing recorded condemns it.
§ 54.50 Costs of sales; county of Erie. To facilitate the marketing of any issue of serial bonds or notes of the county of Erie issued on or before June thirtieth, two thousand twenty-seven such county may, notwithstanding any limitations on private sales of bonds provided by law, and subject to approval by the state comptroller of the terms and conditions of such sale:
a. arrange for the underwriting of its bonds or notes at private sale through negotiated agreement, compensation for such underwriting to be provided by negotiated fee or by sale of such bonds or notes to an underwriter at a price less than the sum of par value of, and the accrued interest on, such obligations; or
b. arrange for the private sale of its bonds or notes through negotiated agreement, compensation for such sales to be provided by negotiated fee, if required. The cost of such underwriting or private placement shall be deemed a preliminary cost for purposes of section 11.00 of this article.