2 CRR-NY 26.4NY-CRR

STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 2. DEPARTMENT OF AUDIT AND CONTROL
CHAPTER II. MUNICIPAL AFFAIRS
SUBCHAPTER A. SALES OF BONDS AND NOTES; DEBT STATEMENTS
PART 26. REQUIREMENTS FOR NOTICE OF SALE OF NOTES BY MUNICIPALITIES, SCHOOL DISTRICTS AND DISTRICT CORPORATIONS
2 CRR-NY 26.4
2 CRR-NY 26.4
26.4 Information required.
Each such notice of sale shall contain:
(a) a statement of the place where and the time when the note or notes will be sold and the conditions of sale; a description of the notes showing the amount, purpose, date, denomination and maturity; whether interest will be paid annually or semiannually; whether the notes will be issued in registered or bearer form; whether the notes may be converted into bearer or registered form, as the case may be; whether the notes are redeemable prior to maturity; the medium of payment; the place or places of payment or the terms and conditions under which such place or places will be designated; the place and the proposed date for delivery of the notes;
(b) in the case of counties, cities, towns, villages and school districts, a statement that the notes are general obligations of the issuer; that there is no limitation, either as to rate or amount, upon ad valorem taxes upon taxable real property in such municipality or district which may be required to pay the notes and the interest thereon; and that the New York State Constitution requires the issuer to pledge its faith and credit for the payment of the principal of the notes and the interest thereon;
(c) in the case of fire districts and other district corporations, a statement that the notes are general obligations of the issuer payable from ad valorem taxes or assessments upon taxable real property in the fire district or district corporation which may be levied without limitation as to rate or amount. (If the notes are payable in the first instance from revenues other than ad valorem taxes or assessments on real property, the notice shall so state.)
(d) a statement that the approving opinion of a designated attorney or firm of attorneys will be furnished without cost to the purchaser of the notes, if such opinion is to be furnished; and
(e) if an official statement is required by Part 27 of this Subchapter, a statement that an official statement will be furnished to any interested bidder upon request.
2 CRR-NY 26.4
Current through August 31, 2022
End of Document

IMPORTANT NOTE REGARDING CONTENT CURRENCY: JULY 31, 2023, is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Admisnistrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of the NYS Rules.