N.Y. Local Finance Law § 62.00: Interim bonds

§ 62.00 Interim bonds. The agency selling and issuing the bonds of a

municipality, school district or district corporation may issue interim

bonds pending the printing or engraving and delivery of bonds in

definitive form. Such interim bonds shall be of substantially the same

form and tenor as the definitive bonds, except that they shall also

provide that they are exchangeable for the definitive bonds when such

bonds are ready for delivery, and if such definitive bonds are coupon

bonds, the interim bonds need not have coupons attached but may provide

for the payment of interest upon their presentation for notation of such

payment thereon. Such interim bonds may be issued in such denominations

as the purchaser may request, which may be one denomination equal to the

principal amount of the bond issue.