N.Y. Local Finance Law § 54.30

§ 54.30 Costs of sales; bonds and notes of the city of Buffalo.\nSubject to the provisions of chapter one hundred twenty-two of the laws\nof two thousand three creating the Buffalo fiscal stability authority,\nto facilitate the marketing of any issue of serial bonds or notes of the\ncity of Buffalo issued on or before June thirtieth, two thousand twenty,\nsuch city may, notwithstanding any limitations on private sales of bonds\nprovided by law, and subject to approval by the state comptroller of the\nterms and conditions of such sale: (a) arrange for the underwriting of\nits bonds or notes at private sale through negotiated agreement,\ncompensation for such underwriting to be provided by negotiated fee or\nby sale of such bonds or notes to an underwriter at a price of less than\nthe sum of par value of, and the accrued interest on, such obligations;\nor (b) arrange for the private sale of its bonds or notes through\nnegotiated agreement, compensation for such sales to be provided by\nnegotiated fee, if required. The cost of such underwriting or private\nplacement shall be deemed a preliminary cost for purposes of section\n11.00 of this article.\n