N.Y. Comp. Codes R. & Regs. tit. 2 § 38.4

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

Section 38.4 - Redemption of sinking fund bonds

The issuer shall notify the State Comptroller not less than 30 days prior to the date fixed for the redemption or maturity of sinking fund bonds of:

(a) the principal amount of sinking fund bonds to be redeemed;

(b) the amount to be transferred from the sinking fund account in order to pay such principal amount; and

(c) the name and account number of the entity to which such amounts shall be transferred. The State Comptroller shall effect such transfer (but only to the extent that funds are available therefor) not later than the day preceding the date fixed for redemption. Such transfer may be made on the dates specified in the agreement between the issuer and the State Comptroller or at other times agreed to by the State Comptroller.

N.Y. Comp. Codes R. & Regs. Tit. 2 § 38.4