§ 54.30 Costs of sales; bonds and notes of the city of Buffalo.
Subject to the provisions of chapter one hundred twenty-two of the laws
of two thousand three creating the Buffalo fiscal stability authority,
to facilitate the marketing of any issue of serial bonds or notes of the
city of Buffalo issued on or before June thirtieth, two thousand
twenty-four, such city may, notwithstanding any limitations on private
sales of bonds provided by law, and subject to approval by the state
comptroller of the terms and conditions of such sale: (a) arrange for
the underwriting of its bonds or notes at private sale through
negotiated agreement, compensation for such underwriting to be provided
by negotiated fee or by sale of such bonds or notes to an underwriter at
a price of less than the sum of par value of, and the accrued interest
on, such obligations; or (b) arrange for the private sale of its bonds
or notes through negotiated agreement, compensation for such sales to be
provided by negotiated fee, if required. The cost of such underwriting
or private placement shall be deemed a preliminary cost for purposes of
section 11.00 of this article.