N.Y. Public Authorities Law Section 1689-B
Sale of bonds by the authority

1.

(a) Notwithstanding any other provision of law, the bonds of the authority issued pursuant to § 1689-A (Public school districts)section one thousand six hundred eighty-nine-a of this article shall be sold to the bidder offering the lowest true interest cost, taking into consideration any premium or discount not less than four nor more than fifteen days, Sundays excepted, after a notice of such sale has been published at least once in a definitive trade publication of the municipal bond industry, which shall state the terms of the sale. The terms of the sale may not change unless notice of such change is sent via a definitive trade wire service of the municipal bond industry which, in general, make available information regarding activity and sales of municipal bonds. Advertisements shall contain a provision to the effect that the authority, in its discretion, may reject any or all bids made in pursuance of such advertisements, and in the event of such rejection, the authority is authorized to negotiate a private or public sale or readvertise for bids in the form and manner above described as many times as, in its judgment, may be necessary to effect a satisfactory sale.

(b)

Notwithstanding the provisions of paragraph (a) of this subdivision, whenever in the judgment of the authority the interests of the authority will be served thereby, the members of the authority, on the written recommendation of the executive director, may authorize the sale of such bonds at private or public sale on a negotiated basis or on either a competitive or negotiated basis. The authority shall set guidelines governing the terms and conditions of any such private or public sales.

2.

The authority shall annually prepare and approve a bond sale report which shall identify results of any sale of bonds pursuant to this section conducted during the fiscal year. Such bond sale report may be a part of any other annual report that the authority is required to make.

3.

The authority shall annually submit such bond sale report to the comptroller and copies thereof to the senate finance committee and the assembly ways and means committee and the director of the budget.

Source: Section 1689-B — Sale of bonds by the authority, https://www.­nysenate.­gov/legislation/laws/PBA/1689-B (updated Sep. 22, 2014; accessed Apr. 27, 2024).

1675
Short title 1676
Definitions 1676‑A
Payment on authority public work projects 1677
Dormitory Authority 1678
Powers of the authority 1678‑A
New York state design and construction corporation act 1679
Supplemental higher education loan financing program 1679‑A
Health education assistance loan financing program 1679‑B
Equipment loans 1679‑C
The New York higher education loan program 1680
Dormitories at certain educational institutions other than state operated institutions and statutory or contract colleges under the juris... 1680‑A
Judicial facilities in certain counties 1680‑B
Court facilities and combined occupancy structures 1680‑C
Creation of the court facilities capital review board 1680‑D
Sale of bonds by the authority 1680‑E
State university athletic facilities 1680‑F
Roswell Park Cancer Institute development account 1680‑G
Child care facilities development program 1680‑H
Sale of bonds by the authority 1680‑I
Judiciary 1680‑J
New York state higher education capital matching grant board 1680‑J*2
Authorization for the issuance of bonds for the health care efficiency and affordability law for New Yorkers (HEAL NY) capital grant program 1680‑K
Financing of department of agriculture and markets facilities 1680‑L
The special disability fund financing 1680‑M
Cultural education facilities 1680‑N
Acquisition of state buildings and other facilities 1680‑O
Courthouse improvements and training facilities 1680‑P
Longitudinal data system 1680‑Q
State university of New York dormitory facilities 1680‑Q*2
Self-insured bond financing 1680‑R
Authorization for the issuance of bonds for the capital restructuring financing program, the health care facility transformation programs... 1681
Moneys of the authority 1681‑A
Distribution of board materials 1682
Bonds of the authority 1682‑A
Financial monitoring 1683
State not liable on bonds 1684
Bonds legal investments for fiduciaries 1685
Exemptions from taxation 1686
Remedies of bondholders 1686‑A
Security by authority 1687
Members and employees not to profit 1688
Visitation by regents 1689
Board of cooperative educational services school facilities 1689‑A
Public school districts 1689‑B
Sale of bonds by the authority 1689‑C
Capital facility program, authority financing of eligible projects 1689‑D
Bidding requirements 1689‑E
Biomedical facilities program, authority financing of eligible projects 1689‑F
Public school districts 1689‑G
Local government infrastructure 1689‑H
Expedited deployment funding 1689‑I
Library construction 1689‑I*2
Public school districts 1690
Contract of the state 1691
Actions against authority 1693
Title not affected if in part unconstitutional or ineffective 1694
Termination of authority
Green check means up to date. Up to date

Accessed:
Apr. 27, 2024

Last modified:
Sep. 22, 2014

§ 1689-B’s source at nysenate​.gov

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