New York § 511 State's right to require redemption of bonds

New York Statutes

§ 511 — State's right to require redemption of bonds

New York § 511

Law PMLRacing, Pari-Mutuel Wagering and Breeding Law

Art. 5Regional Off-track Betting Corporations

This text of New York § 511 (State's right to require redemption of bonds) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Racing, Pari-Mutuel Wagering and Breeding Law § 511 (2026).

Text

  § 511. State's right to require redemption of bonds.  Notwithstanding\nand in addition to any provisions for the redemption of bonds which may\nbe contained in any contract with the holders of the bonds, the state\nmay, upon furnishing sufficient funds therefor, require a corporation to\nredeem, prior to maturity, as a whole, any issue of bonds on any\ninterest payment date not less than twenty years after the date of the\nbonds of such issue at one hundred five per centum of their face value\nand accrued interest or at such lower redemption price as may be\nprovided in the bonds in case of the redemption thereof as a whole on\nthe redemption date. Notice of such redemption shall be published in at\nleast two newspapers published and circulating in the participating\ncounties at least tw

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§ 511. State's right to require redemption of bonds. Notwithstanding\nand in addition to any provisions for the redemption of bonds which may\nbe contained in any contract with the holders of the bonds, the state\nmay, upon furnishing sufficient funds therefor, require a corporation to\nredeem, prior to maturity, as a whole, any issue of bonds on any\ninterest payment date not less than twenty years after the date of the\nbonds of such issue at one hundred five per centum of their face value\nand accrued interest or at such lower redemption price as may be\nprovided in the bonds in case of the redemption thereof as a whole on\nthe redemption date. Notice of such redemption shall be published in at\nleast two newspapers published and circulating in the participating\ncounties at least twice, the first publication to be at least thirty\ndays before the date of redemption.\n