Laws of New York (Last Updated: November 21, 2014)

Section 7. Payment of municipal bonds

Latest version.

Where  the bonds of a municipal
  corporation have been lawfully issued, and the payment of the  principal
  or  interest thereof shall not have been otherwise paid or provided for,
  the same shall be a charge upon such corporation, and  shall  be  levied
  and  assessed,  collected  and paid the same as other debts and charges.
  When for any reason any portion of the principal or  interest  due  upon
  such  bonds shall not have been paid, the same shall be assessed, levied
  and collected at the first assessment and collection of  taxes  by  such
  corporation after such omission.

                    
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