Nyc Consolidated Laws, regional Finance Law – LFN § 169.00 Installment loans and responsibilities evidencing installment loans
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a. Notwithstanding the conditions of every other legislation, basic, unique or regional, inconsistent with this specific part, concerning the energy of municipalities to come into agreements also to contract indebtedness, the finance board of every municipality attempting to sell bonds or records at personal purchase towards the nyc state ecological facilities business so that you can get economic support pursuant to area twelve hundred eighty-five-j or twelve hundred eighty-five-m for the general general public authorities legislation is hereby authorized and empowered to contract with such business to receive every so often advances of that loan as much as a stated optimum principal amount also to issue to such firm, so that you can evidence the responsibility of these municipality to settle such improvements, its bonds or records when you look at the kind plus in the way supplied by this part. Any bond that is such note may possibly provide that the municipality issuing such bond or note shall pay to such firm or its assigns the stated optimum principal http://www.internet-loannow.net/title-loans-al amount or, if less, the aggregate principal amount associated with the improvements associated with the matching loan meant to such municipality by the business.
