Local Finance Law § 54.60 · Title 4. Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof
Cost of sales; city of Utica
Text — Law content up to date as of September 4, 2026, as published by the New York State Senate (Open Legislation)
§ 54.60 Cost of sales; city of Utica. To facilitate the marketing of any issue of serial bonds of the city of Utica issued on or before March thirty-first, nineteen hundred eighty-eight, such city 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 at private sale through negotiated agreement, compensation for such underwriting to be provided by negotiated fee or by sale of such bonds to an underwriter at a price of par value or at a discount not to exceed two percent, and the accrued interest on such obligations; or
b. arrange for the private sale of its bonds 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 chapter.
Source of truth
- Edition
- Law content up to date as of September 4, 2026, as published by the New York State Senate (Open Legislation)
- Official file
- https://legislation.nysenate.gov/pdf/laws/LFN54.60
- Text hash
- sha256 3875cf2bebfb2515e9f9193064911d42c3f5a3da5588d743464e7f709e60d381
- Composed by
- gen_ny_statutes.py 2026-11-10: the Senate's Open Legislation law tree (GET /api/3/laws/<ID>?full=true) read in document order; the Senate's PDF of the whole law (GET /pdf/laws/<ID>?full=true), read with PDFium, prints the same words in the same order
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