N.Y. NYS Project Finance Agency Act7/75 § 12: State's right to require redemption of bonds

§ 12. State's right to require redemption of bonds.

Notwithstanding and in addition to any provisions for the redemption

of bonds which may be contained in any contract with the holders of the

bonds, the state may, upon furnishing sufficient funds therefor, require

the agency to redeem, prior to maturity, as a whole, any issue of bonds

on any interest payment date not less than twenty years after the date

of the bonds of such issue at one hundred five per centum of their face

value and accrued interest or at such lower redemption price as may be

provided in the bonds in case of the redemption thereof as a whole on

the redemption date. Notice of such redemption shall be published at

least twice in each of at least one newspaper publishing and circulating

in the county of Albany and at least one newspaper publishing and

circulating in the city of New York, the first publication to be at

least thirty days before the date of redemption.