N.Y. Education Law § 464
State and city's right to require redemption of bonds
New York · New York Education Law · Status: effective · Effective 2014-09-22
Cite this
- Citation
- N.Y. Education Law § 464, State and city's right to require redemption of bonds, New York, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/1100356
- Permanent ID
ys:prov:1100356@1- SHA-256
03bbdf841b6ec693bac8ffcef70b512f9b1426b5b52cf9f49180a4bf538d719f
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
§ 464. State and city's right to require redemption of bonds.
Notwithstanding and in addition to any provisions for the redemption of
bonds which may be contained in any contract with the holders of the
bonds, either the state or the city of New York may, upon furnishing
sufficient funds therefor, require the fund to redeem, prior to
maturity, as a whole, any issue of bonds on any interest payment date
not less than twenty years after the date of the bonds of such issue at
one hundred five per centum of their face value and accrued interest or
at such lower redemption price as may be provided in the bonds in case
of the redemption thereof as a whole on the redemption date. Notice of
such redemption shall be published in at least two newspapers published
and circulating in the city of New York at least twice, the first
publication to be at least thirty days before the date of redemption.