New York Procedure For Investment Of Sinking Fund Moneys.
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§ 5-205 Procedure for investment of sinking fund moneys. All
obligations which shall be purchased by the comptroller with respect to
the several sinking funds of the city established prior to July first,
nineteen hundred eighty-one shall be transferred to the comptroller, and
all transfers thereof shall be made by the comptroller. Obligations of
the city which shall be purchased by the comptroller shall not be
cancelled by the comptroller until the final redemption of the same, and
all interest accruing therefrom shall regularly be paid to the
appropriate sinking funds.