N.Y. Local Finance Law Section 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, 2027 * 5. The rate of interest and the date or dates of payment thereof. * NB Effective July 15, 2027 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.

Source: Section 51.00 — Terms, form and contents of obligations, https://www.nysenate.gov/legislation/laws/LFN/51.00 (updated Jul. 5, 2024; accessed Dec. 6, 2025).

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 54.20
Funding of capital expenditures duly appropriated in the capital budget for the city of New York 54.30
Costs of sales 54.40
Bonds and notes of the city of Yonkers 54.50
Costs of sales 54.60
Cost of sales 54.70
Cost of sales 54.80
Cost of sales 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 57.00
Sale of bonds 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 60.00
Sale of notes 60.10
Sale of obligations to certain banks and trust companies authorized 61.00
Execution of obligations 62.00
Interim bonds 62.10
Statutory installment bonds 63.00
Bond issues of certain amounts 63.10
Cancellation of obligations

California:	Codes
Colorado:	C.R.S.
Florida:	Statutes
Nevada:	NRS
New York:	Laws
Oregon:	OAR, ORS
Texas:	Statutes
World:	Rome Statute, International Dictionary

N.Y. Local Finance Law Section 51.00 Terms, form and contents of obligations

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N.Y. Local Finance Law Section 51.00
Terms, form and contents of obligations