N.Y. Local Finance Law § 51.00: Terms, form and contents of obligations

§ 51.00 Terms, form and contents of obligations. Every bond and note

shall contain a statement of at least the following:

1. The type of obligation.

2. The amount of the obligation and the total amount of the issue of

which the obligation is a part.

3. The date and maturity of the obligation.

4. If the obligation is a tax anticipation note or a revenue

anticipation note, the fiscal year for which the taxes were levied or

are to be levied or in which the revenues are to become due and payable,

as the case may be; if the obligation is a tax anticipation note to be

issued in anticipation of the levy or collection of assessments for a

fiscal year or in anticipation of the collection of an installment of an

assessment for a capital improvement, the fiscal year for which such

assessments were levied or are to be levied or in which such installment

becomes due, as the case may be.

* 5. The rate of interest or, in the case of obligations bearing a

variable rate of interest, the procedure for calculating such variable

rate of interest and the maximum rate of interest which such variable

rate notes may bear, together with the date or dates of payment thereof.

* NB Effective until July 15, 2027

* 5. The rate of interest and the date or dates of payment thereof.

* NB Effective July 15, 2027

6. The place or places of payment of principal and interest.

7. The medium of payment.

8. An irrevocable pledge of the faith and credit of the municipality,

school district or district corporation issuing the obligation for the

payment thereof.

9. If the obligation is payable to bearer, whether it may be converted

into a registered obligation; if the obligation is in registered form,

whether it may be converted into a bearer obligation.

10. If the obligation may be called for redemption prior to its date

of maturity, the terms and conditions under which such obligation may be

redeemed.