N.Y. Local Finance Law § 54.50: Costs of sales; county of Erie

§ 54.50 Costs of sales; county of Erie. To facilitate the marketing of

any issue of serial bonds or notes of the county of Erie issued on or

before June thirtieth, two thousand twenty-seven such county 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 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.