Laws of New York (Last Updated: November 21, 2014) |
ADC New York City Administrative Code(NEW) |
Title 5. BUDGET; CAPITAL PROJECTS |
Chapter 2. SINKING FUNDS |
Section 5-202. Separate accounts to be kept for the several sinking funds
Latest version.
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The assets and accounts of each of the several sinking funds of the city established prior to July first, nineteen hundred eighty-one shall be kept separate and distinct, and they shall in all respects be administered as independent trusts, with the intent and purpose of preserving inviolate the rights of holders of corporate stock redeemable therefrom.