New York Redemption.
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§ 294. Redemption. The sinking fund bonds to be redeemed from the
general sinking fund or any additional sinking funds established
pursuant to section two hundred ninety-eight may be selected in such
manner as the comptroller may determine and may be identified on the
face thereof. The principal amount of sinking fund bonds required to be
redeemed on any date by payment from the general sinking fund or any
additional sinking fund shall be reduced by the principal amount of any
such bonds which has been timely purchased or redeemed and cancelled by
the city and not theretofore applied as a credit against such
requirements.