Section 54.10. Bonds and notes of the city of New York; certain provisions

Subject to the provisions of the financial emergency act for the city of
  New York but notwithstanding any other law to the contrary:
    (a) To facilitate the marketing of any issue of bonds or notes of  the
  city  of  New York issued on or before June thirtieth, two thousand ten,
  the mayor and comptroller of such city may, subject to the  approval  of
  the  state comptroller and the limitations on private sales of bonds and
  notes, respectively, provided by law:
    (i) arrange for  the  underwriting  of  its  bonds  or  notes  through
  negotiated agreement or public letting, and provide for compensation for
  services rendered in connection with such underwriting by negotiated fee
  or  by  sale of such bonds or notes to an underwriter at a price of less
  than the sum of  par  value  of,  and  the  accrued  interest  on,  such
  obligations;
    (ii)  arrange  for  the  private  sale  of  its bonds or notes through
  negotiated agreement, and provide for compensation for services rendered
  in connection with such sales by negotiated fee or by sale of such bonds
  or notes at a price of less than the  sum  of  par  value  of,  and  the
  accrued interest on, such obligations;
    (iii)  provide  for  redemption  of its bonds or notes on such date or
  dates prior to the date of their maturity  at  a  price  or  prices  and
  pursuant  to  such terms as may be determined by the city at the time of
  the issuance  thereof,  notwithstanding  any  limitation  set  forth  in
  section  53.00 of this chapter. The cost of such underwriting or private
  placement together with other costs  of  the  issuance  of  obligations,
  shall  be  deemed a part of the cost of the objects or purposes financed
  by an issue of obligations.
    (b) Without further approval the mayor and comptroller of the city  of
  New  York may provide for or enter into agreements which provide for the
  payment of a guarantee fee or any other amounts required by  the  United
  States of America or any agency or instrumentality thereof in connection
  with  any  guarantee  of  the payment of the principal of or interest on
  bonds  or  notes  issued  by  such  city  or  the  municipal  assistance
  corporation for the city of New York.
    (c)  Without further approval the mayor and comptroller of the city of
  New York may provide for or enter into agreements which provide for  the
  payment  of  compensation  by negotiated fee or otherwise to a financial
  advisor to  such  city  engaged  pursuant  to  any  agreement  with  the
  secretary of the Treasury in connection with the guarantee by the United
  States  of  America  or  any  agency  or  instrumentality thereof of the
  principal of or interest on bonds or notes issued by such  city  or  the
  municipal  assistance corporation for the city of New York or to enhance
  the city's ability to market its obligations to the public.
    (d) Without further approval the mayor and the comptroller of the city
  of New York may provide for or enter into agreements which  provide  for
  the  compensation  by  negotiated fee or otherwise of a trust company or
  bank having the powers of a trust company in the state of  New  York  to
  hold, maintain and administer funds in accordance with the provisions of
  section  nine-a  of  the  New York state financial emergency act for the
  city of New York.
    (e) Without further approval the mayor and the comptroller of the city
  of New York may provide for or enter into agreements which  provide  for
  the  payment  of  any  amount  required  in exchange for a commitment to
  purchase bonds or notes of the city, and  in  addition  may  enter  into
  agreements upon such terms, including but not limited to terms governing
  payment,   redemption   and  refunding,  as  they  deem  reasonable  and
  appropriate to facilitate  the  issuance  and  sale  of  notes  with  an
  interest rate which may vary pursuant to section 60.00 of this chapter.