N.Y. Comp. Codes R. & Regs. tit. 2 § 26.4

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

Section 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.

N.Y. Comp. Codes R. & Regs. Tit. 2 § 26.4