9 CRR-NY 1644-3.8NY-CRR
STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 9. EXECUTIVE DEPARTMENT
SUBTITLE S. DIVISION OF HOUSING AND COMMUNITY RENEWAL
CHAPTER III. LOW RENT HOUSING
SUBCHAPTER D. ACCOUNTING MANUAL FOR PUBLIC HOUSING AGENCIES
PART 1644. DEBT SERVICE
SUBPART 1644-3. DEBT SERVICE SUBSEQUENT TO ISSUANCE OF HOUSING BONDS
9 CRR-NY 1644-3.8
9 CRR-NY 1644-3.8
1644-3.8 Amortization of indebtedness.
The retirement of indebtedness by making periodic repayments of the principal amount of the indebtedness is known as amortization. With respect to the amortization of indebtedness of the local agency to the State, representing the proceeds of a housing bond issue by the State, the accounting entries will reflect the following:
(a) The periodic provision made by the local agency for amortizing the indebtedness.
(b) The payment of the scheduled amortization into the State Housing Debt Fund.
(c) The payment of the amortization by the State Comptroller to the holders of the housing bonds.
9 CRR-NY 1644-3.8
Current through September 15, 2021
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above 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 Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.