N.Y. City of Troy Issuance of Serial Bonds § 7: To facilitate the marketing of such bonds and/or bond anticipation notes authorized to be issued pursuant to this act, the city of Troy m...

§ 7. To facilitate the marketing of such bonds and/or bond

anticipation notes authorized to be issued pursuant to this act, the

city of Troy may, notwithstanding any limitations on the private sales

of bonds provided by law and subject to the approval by the state

comptroller of the terms and conditions of such sales: (a) arrange for

the underwriting of such bonds and/or bond anticipation notes at private

sale through negotiated fees or by sale of such bonds and/or bond

anticipation notes to an underwriter at a price of less than the sum of

par value of, and the accrued interest on, such obligations; or (b)

arrange for the private sale of such bonds and/or bond anticipation

notes through negotiated agreement, with compensation for such sales to

be provided by negotiated agreement and/or negotiated fee, if required.

The cost of such underwriting or private placement shall be deemed a

preliminary cost for purposes of paragraph a of section 11.00 of the

local finance law.