§ 57.00 Sale of bonds. a. Bonds shall be sold only at public sale and\nin accordance with the procedure set forth in this section and sections\n58.00 and 59.00 of this title, except as otherwise provided in this\nparagraph. Bonds may be sold at private sale to the United States\ngovernment or any agency or instrumentality thereof, the state of New\nYork municipal bond bank agency, to any sinking fund or pension fund of\nthe municipality, school district or district corporation selling such\nbonds, or, in the case of sales by the city of New York prior to July\nfirst, two thousand twenty-six, also to the municipal assistance\ncorporation for the city of New York or to any other purchaser with the\nconsent of the mayor and the comptroller of such city and approval of\nthe state comptroller, or, in the case of sales by the county of Nassau\nprior to December thirty-first, two thousand seven, also to the Nassau\ncounty interim finance authority with the approval of the state\ncomptroller, or, in the case of sales by the city of Buffalo prior to\nJune thirtieth, two thousand thirty-seven, also to the Buffalo fiscal\nstability authority with the approval of the state comptroller, or, in\nthe case of bonds or other obligations of a municipality issued for the\nconstruction of any sewage treatment works, sewage collecting system,\nstorm water collecting system, water management facility, air pollution\ncontrol facility or solid waste disposal facility, also to the New York\nstate environmental facilities corporation, or, in the case of bonds or\nother obligations of a school district or a city acting on behalf of a\ncity school district in a city having a population in excess of one\nhundred twenty-five thousand but less than one million inhabitants\naccording to the latest federal census, issued to finance or refinance\nthe cost of school district capital facilities or school district\ncapital equipment, as defined in section sixteen hundred seventy-six of\nthe public authorities law, also to the dormitory authority of the state\nof New York. Bonds of a river improvement or drainage district\nestablished by or under the supervision of the department of\nenvironmental conservation may be sold at private sale to the state of\nNew York as investments for any funds of the state which by law may be\ninvested, provided, however, that the rate of interest on any such bonds\nso sold shall be approved by the water power and control commission and\nthe state comptroller. Bonds may also be sold at private sale as\nprovided in section 63.00 of this title. No bonds shall be sold on\noption or on a deferred payment plan, except that options to purchase,\neffective for a period not exceeding one year, may be given:\n 1. in any case to the state of New York municipal bond bank agency\nwith respect to any bonds or bond anticipation notes; and\n 2. in the case of a municipality to the New York state environmental\nfacilities corporation with respect to bonds or other obligations issued\nfor the construction of any sewage treatment works, sewage collecting\nsystem, storm water collecting system, water management facility, air\npollution control facility or solid waste disposal facility, or, in the\ncase of bonds or other obligations of a school district or a city acting\non behalf of a city school district in a city having a population in\nexcess of one hundred twenty-five thousand but less than one million\ninhabitants according to the latest federal census, issued to finance or\nrefinance the cost of school district capital facilities or school\ndistrict capital equipment, as defined in section sixteen hundred\nseventy-six of the public authorities law, also to the dormitory\nauthority of the state of New York. A loan commitment may also be\nentered into by and between a municipality, and the state of New York\nmunicipal bond bank agency, by and between a school district or a city\nacting on behalf of a city school district in a city having a popul
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