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New York Codes Rules Regulations (Last Updated: March 27,2024) |
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TITLE 21. Miscellaneous |
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Chapter LXXVII. New York Local Government Assistance Corporation |
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Subchapter C. Prompt Payment Policy |
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Part 9770. Prompt Payment Policy |
Sec. 9770.6. Sources of funds available for payment of interest
Latest version.
- The corporation, where required pursuant to this Part, may pay interest on invoices from:(a) moneys which represent the proceeds of the issuance of its obligations, where the contract payment itself is to be made from such moneys;(b) moneys appropriated to the corporation and not deriving from the issuance of its obligations, where the contract payment is to be made from such moneys; or(c) other moneys held by the corporation for the purposes of making such interest payments.