Section 54.80. Cost of sales; city of Lackawanna

To facilitate the
  marketing of any issue  of  serial  bonds  of  the  city  of  Lackawanna
  authorized  to  be  issued pursuant to section two of the chapter of the
  laws of nineteen hundred ninety which enacted this section,  issued  for
  the  purposes  of  complying  with a court ordered assessment reduction,
  such city may, on or before March first,  nineteen  hundred  ninety-one,
  notwithstanding  any  limitations  on private sales of bonds provided by
  law, and subject to approval by the state comptroller of the  terms  and
  conditions of such sales:
    a.  arrange  for the underwriting of its bonds at private sale through
  negotiated agreement, compensation for services rendered  in  connection
  with  such  underwriting  to be provided by negotiated fee or by sale of
  such bonds to an underwriter at a price of less  than  the  sum  of  par
  value of, and the accrued interest on, such obligations; or
    b.  arrange  for  the  private  sale  of  its bonds through negotiated
  agreement, compensation for services rendered in  connection  with  such
  sales  to  be  provided  by negotiated fee or by sale of such bonds at a
  price of less than the sum of par value of,  and  accrued  interest  on,
  such  obligations.  The  cost  of such underwriting or private placement
  shall be deemed a preliminary cost for purposes of section 11.00 of this
  chapter.