N.Y. Transportation Law 58 – Repurchase of bonds
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§ 58. Repurchase of bonds. The Utica transit authority shall have power to purchase any bonds issued by it for the purpose of retirement or investment. The Utica transit authority shall not purchase such bonds at a price in excess of the face value thereof plus a premium of four per cent. All bonds purchased for the purpose of retirement shall be cancelled.
Terms Used In N.Y. Transportation Law 58
- Authority: shall mean a public benefit corporation created by section forty-one of this Article -I of the general municipal law. See N.Y. Transportation Law 40