ยง 51.00 Terms, form and contents of obligations. Every bond and note
shall contain a statement of at least the following:
1. The type of obligation.
2. The amount of the obligation and the total amount of the issue of
which the obligation is a part.
3. The date and maturity of the obligation.
4. If the obligation is a tax anticipation note or a revenue
anticipation note, the fiscal year for which the taxes were levied or
are to be levied or in which the revenues are to become due and payable,
as the case may be; if the obligation is a tax anticipation note to be
issued in anticipation of the levy or collection of assessments for a
fiscal year or in anticipation of the collection of an installment of an
assessment for a capital improvement, the fiscal year for which such
assessments were levied or are to be levied or in which such installment
becomes due, as the case may be.
* 5. The rate of interest or, in the case of obligations bearing a
variable rate of interest, the procedure for calculating such variable
rate of interest and the maximum rate of interest which such variable
rate notes may bear, together with the date or dates of payment thereof.
* NB Effective until July 15, 2024
* 5. The rate of interest and the date or dates of payment thereof.
* NB Effective July 15, 2024
6. The place or places of payment of principal and interest.
7. The medium of payment.
8. An irrevocable pledge of the faith and credit of the municipality,
school district or district corporation issuing the obligation for the
payment thereof.
9. If the obligation is payable to bearer, whether it may be converted
into a registered obligation; if the obligation is in registered form,
whether it may be converted into a bearer obligation.
10. If the obligation may be called for redemption prior to its date
of maturity, the terms and conditions under which such obligation may be
redeemed.
Structure New York Laws
Article 2 - Local Indebtedness
Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof
50.00 - Agency Prescribing Terms, Form and Contents of Obligations.
51.00 - Terms, Form and Contents of Obligations.
52.00 - Recital of Validity in Obligations.
53.00 - Obligations Redeemable Prior to Maturity.
54.10 - Bonds and Notes of the City of New York; Certain Provisions.
54.30 - Costs of Sales; Bonds and Notes of the City of Buffalo.
54.40 - Bonds and Notes of the City of Yonkers.
54.50 - Costs of Sales; County of Erie.
54.60 - Cost of Sales; City of Utica.
54.70 - Cost of Sales; City of Niagara Falls, Niagara County.
54.80 - Cost of Sales; City of Lackawanna.
54.85 - Bonds and Notes of the City of Troy.
54.90 - Issuance of Bonds or Notes With Variable Rates of Interest.
55.00 - Bearer and Registered Obligations.
55.10 - Endorsements of Principal Payments on Bonds and Notes.
56.00 - Agency Selling and Issuing Obligations.
57.10 - Guidelines for Sale of Bonds and Notes on a Negotiated Basis.
58.00 - Notice of Sale of Bonds.
58.10 - Electronic Open Auction Public Bond Sale Pilot Program.
59.00 - Bids Opened Publicly; Amendments; Awards.
60.10 - Sale of Obligations to Certain Banks and Trust Companies Authorized.
61.00 - Execution of Obligations.
62.10 - Statutory Installment Bonds.