New York Duties When Accumulations In Sinking Funds Are Insufficient.
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§ 5-206 Duties when accumulations in sinking funds are insufficient.
Whenever it shall appear to the mayor that the accumulations in any
sinking fund of the city established prior to July first, nineteen
hundred eighty-one will be insufficient to meet the payment of any
corporate stock falling due in the next following fiscal year redeemable
therefrom, it shall be the mayor's duty to include in the annual budget
for such year, such an amount to be applied to the payment of such
corporate stock as shall be sufficient to meet any such deficiency, and
the amount shall be paid into such sinking fund.