Arts and Cultural Affairs - New York State Cultural Resources Act - New York State Cultural Resources Act - State's right to require a redemption of bonds

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§ 20.23. State's right to require a redemption of bonds.
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 of a trust, the state may, upon furnishing sufficient funds
therefor, require the trust to redeem, prior to maturity, as a whole,
any issue of bonds on any interest payment date not less than twenty
years after the date of the bonds of such issue at one hundred five 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 at least twice in at least two newspapers
publishing and circulating respectively in the cities of Albany and New
York, the first publication to be at least thirty days before the date
of redemption.