2016 New York Laws
EDN - Education
Title 1 - GENERAL PROVISIONS
Article 10 - (450 - 471) NEW YORK CITY EDUCATIONAL CONSTRUCTION FUND
464 - State and city's right to require redemption of bonds.

 464. State   and  city's  right  to  require  redemption  of  bonds.
  Notwithstanding and in addition to any provisions for the redemption  of
  bonds  which  may  be  contained in any contract with the holders of the
  bonds, either the state or the city of New  York  may,  upon  furnishing
  sufficient  funds  therefor,  require  the  fund  to  redeem,  prior  to
  maturity, as a whole, any issue of bonds on any  interest  payment  date
  not  less than twenty years after the date of the bonds of such issue at
  one hundred five per centum of their face value and accrued interest  or
  at  such  lower redemption price as may be provided in the bonds in case
  of the redemption thereof as a whole on the redemption date.  Notice  of
  such  redemption shall be published in at least two newspapers published
  and circulating in the city of  New  York  at  least  twice,  the  first
  publication to be at least thirty days before the date of redemption.