N.Y. Education Law § 3709: Penalties of certain bonds

§ 3709. Penalties of certain bonds. Whenever a school district

officer is required to furnish a bond under the provisions of section

thirty-seven hundred eight in the penalty of double the amount of moneys

apportioned or to be received, and such district officer furnishes the

bond of a surety or bonding company authorized by law to transact

business in this state and to execute such bond, the penalty thereof may

be fixed at the amount of moneys so apportioned or to be received, in

lieu of the double penalty prescribed in such section.