§ 9 — Municipal reallocation

New York § 9

• Jurisdiction: New York
• Law PAB: Private Activity Bond 47/90
• Title 1: Private Activity Bond Allocation Act of 1990

Text

* § 9. Municipal reallocation. The chief executive officer of any\npolitical subdivision or, if such political subdivision has no chief\nexecutive officer, the governing board of the political subdivision for\nthe benefit of which a local agency has been established, may withdraw\nall or any portion of the allocation granted by section three of this\nact to such local agency. The political subdivision may then reallocate\nall or any portion of such allocation, as well as all or any portion of\nthe allocation received pursuant to section eight of this act, to itself\nor any other issuer established for the benefit of that political\nsubdivision or may assign all or any portion of the allocation received\npursuant to section eight of this act to the local agency created for\nits benefit. The chief executive officer or governing board of the\npolitical subdivision, as the case may be, shall notify the commissioner\nof any such reallocation.\n* NB Repealed January 1, 1991\n