New York Consolidated Laws, Local Finance Law - LFN § 57.10 Guidelines for sale of bonds and notes on a negotiated basis

The state comptroller shall promulgate rules in conformance with the state administrative procedure act governing the sale of bonds and notes on a negotiated basis as authorized by sections 54.90 and 57.00 of this chapter.  No bond or note sale on a negotiated basis shall be conducted by a municipality, school district or district corporation without prior approval of the state comptroller except as provided in such rules, which shall set forth the circumstances under which such approval shall not be required.  The state comptroller shall annually deliver to the senate finance committee and the assembly ways and means committee a report listing all such sales conducted in the previous year, including the name of the issuer and the amount of the issue for each such sale.  Such rules shall be reviewed at least annually and updated as may be necessary.