N.Y. Public Authorities Law Section 1864
Right of state 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, the state may, upon furnishing sufficient funds therefor, require the authority 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 cent of their face value and accrued interest or at such lesser 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 respectively in the cities of Albany and New York at least twice, the first publication to be at least thirty days before the date of redemption.

Source: Section 1864 — Right of state to require redemption of bonds, https://www.­nysenate.­gov/legislation/laws/PBA/1864 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

1850
Short title 1850‑A
Legislative declaration 1851
Definitions 1852
New York state energy research and development authority 1853
Approval power of the governor 1854
Purposes and specific powers of the authority 1854‑A
Nuclear waste repository siting 1854‑B
Low-level radioactive waste management facilities 1854‑C
Permanent disposal facilities 1854‑D
Generator reporting and fees 1855
General powers of the authority 1856
Acquisition of real property 1857
Officers and employees 1858
Assistance by state officers, departments, boards, divisions and commissions 1859
Deposit, investment and accounting of moneys of the authority 1860
Bonds and notes 1860‑A
Reserve funds and appropriations 1861
Exemption from taxation of the property and income of the authority 1862
Exemption from taxation of bonds and notes 1863
Bonds and notes legal investments for fiduciaries 1864
Right of state to require redemption of bonds 1865
Rights and remedies of bondholders and noteholders 1866
State not liable on bonds and notes 1867
Annual reports 1867‑A
Federal insurance or guaranty 1868
Inconsistent provisions of other acts 1868‑A
Actions 1869
Termination of the authority 1870
Title not affected if in part unconstitutional or ineffective 1871
Public service law not applicable to authority 1872
Green residential building program 1872‑A
Affordable residential green building program 1873
Examination and reporting of energy efficiency grant recipients 1875
Legislative findings and declaration of intent 1876
High temperature technology research program established 1877
Purposes of the high temperature technology research program 1878
State coordination, oversight and technology transfer 1879
Funds 1880
Legislative findings and declaration of intent 1881
High phase order electric transmission research project 1882
School energy efficiency collaboration program 1883
State oversight and funding 1884
Zero-emission bus roadmap
Green check means up to date. Up to date

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 1864’s source at nysenate​.gov

Link Style