New York Cancellation Of City Obligations Held By The Several Sinking Funds.

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    §  5-204  Cancellation of city obligations held by the several sinking
  funds. It shall be lawful for the comptroller in his or  her  discretion
  from  time to time but not before maturity, to cancel any portion of the
  indebtedness of the city incurred on or after  January  first,  eighteen
  hundred  ninety-eight,  which  may  be held by him or her in any sinking
  fund of the city established  prior  to  July  first,  nineteen  hundred
  eighty-one and which may by law be redeemable from such sinking fund.