Section 891. State's right to require redemption of bonds  


Latest version.
  • 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 authority to
      redeem, prior to maturity, as  a  whole,  any  issue  of  bonds  on  any
      interest  payment  date  not  less than five years after the date of the
      bonds of such issue at one hundred and three 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 in at
      least two newspapers  published  and  circulating  respectively  in  the
      cities  of  Albany and New York at least twice, the first publication to
      be at least thirty days before the date of redemption.