N.Y. Local Finance Law § 54.30: Costs of sales; bonds and notes of the city of Buffalo

§ 54.30 Costs of sales; bonds and notes of the city of Buffalo.

Subject to the provisions of chapter one hundred twenty-two of the laws

of two thousand three creating the Buffalo fiscal stability authority,

to facilitate the marketing of any issue of serial bonds or notes of the

city of Buffalo issued on or before June thirtieth, two thousand

twenty-seven, such city may, notwithstanding any limitations on private

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

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

the underwriting of its bonds or notes at private sale through

negotiated agreement, compensation for such underwriting to be provided

by negotiated fee or by sale of such bonds or 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 its bonds

or notes through negotiated agreement, compensation for such sales to be

provided by negotiated fee, if required. The cost of such underwriting

or private placement shall be deemed a preliminary cost for purposes of

section 11.00 of this article.