New York Laws
Title 4 - Local Obligations: Terms, Form and Contents Thereof; Sale and Issuance Thereof
54.50 - Costs of Sales; County of Erie.

§ 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-four 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.

Structure New York Laws