N.Y. Comp. Codes R. & Regs. tit. 2 § 25.1

Current through Register Vol. 46, No. 36, September 4, 2024

Section 25.1 - Purpose of regulation

The purpose of this regulation is to prescribe requirements for notices of sale of bonds by municipalities, school districts and district corporations. It is adopted pursuant to section 57.00 (d) of the Local Finance Law, which requires the Comptroller to adopt a rule in connection with the sale of bonds:

(a) designating a financial newspaper in which notices of the sale of bonds may be published;

(b) prescribing the procedure for the circularization of such notices;

(c) prescribing requirements relating to the content, publication or circularization of such notices, in addition to but not inconsistent with the provisions of the Local Finance Law; and

(d) prescribing the requirements for the alternative and permissive publication or circularization of notices of the sale of bonds of an issue not exceeding $5,000, as permitted by section 63.00 of the Local Finance Law.

N.Y. Comp. Codes R. & Regs. Tit. 2 § 25.1