§ 2432. Definitions. As used in this title, the following words and\nterms shall have the following meanings unless the context shall\nindicate another or different meaning or intent:\n (1) "Agency". The state of New York municipal bond bank agency, the\ncorporate governmental agency created by section two thousand four\nhundred thirty-three of this title.\n (2) "Bonds" and "Notes". The bonds and notes, including any special\nprogram bonds, special school purpose bonds, recovery act bonds, and\npublic safety communications bonds respectively issued by the agency\npursuant to this title. Bonds and notes shall not include any tax lien\ncollateralized securities issued pursuant to this title.\n (3) "Municipal Bond". A bond or note or evidence of debt payable from\nany local revenues, including taxes, assessments and rents, which a\nmunicipality may lawfully issue to finance local improvements and public\npurposes, including local ARRA bonds and local public safety\ncommunications bonds, but does not include (a) any bond or note or\nevidence of debt issued by any other state or any public body or\nmunicipal corporation thereof, (b) any special program agreement, or (c)\nany special school purpose agreement or any special school deficit\nprogram agreement.\n 4. "Municipality." Any public corporation enumerated in subdivisions\none, two, two-a, two-b, and three of section 2.00 of the local finance\nlaw.\n (5) "State Aid". All payments and contributions made by the state to\nand in aid of a municipality as may be provided by law, other than\npayments of state contributions for old age assistance, family\nassistance, aid to the blind, aid to the disabled, safety net assistance\nand local social services administration costs.\n (5-a) "School aid". Any apportionment of public money made by the\nstate to or for the benefit (i) of a city school district located within\na special program municipality, or (ii) a special school deficit program\ndistrict, as provided for by article seventy-three of the education law;\nprovided that, with respect to any provisions of this title relating to\nspecial school purpose bonds and special school purpose agreements, the\nterm school aid shall have the meaning set forth in section\nninety-two-aa of the state finance law.\n (5-b) "School Aid Revenues". School aid paid or payable by the\ncomptroller to the agency pursuant to section ninety-two-aa of the state\nfinance law.\n (5-c) "Special School Purpose School Aid Revenues". The balance of\nschool aid that does not constitute school aid revenues and that is to\nbe transferred by the comptroller to a special school purpose\nmunicipality pursuant to section ninety-two-aa of the state finance law.\n (6) "Comptroller". The comptroller of the state of New York.\n (7) "State". The state of New York.\n (8) "State Agency". Any office, department, board, commission bureau,\ndivision, public benefit corporation, agency or instrumentality of the\nstate.\n (9) "Amortized Value". When used with respect to securities purchased\nat a premium above or a discount below par, the value as of any given\ndate obtained by dividing the total amount of the premium or discount at\nwhich such securities were purchased by the number of days remaining to\nmaturity on such securities at the time of such purchase and by\nmultiplying the amount so calculated by the number of days having passed\nsince the date of such purchase; and (a) in the case of securities\npurchased at a premium, by deducting the product thus obtained from the\npurchase price, and (b) in the case of securities purchased at a\ndiscount, by adding the product thus obtained to the purchase price.\n (10) "Debt Service Reserve Fund Requirement". With respect to any debt\nservice reserve fund created by section twenty-four hundred thirty-nine\nof this title relating to bonds other than special program bonds or\nspecial school purpose bonds or special school deficit program bonds or\nrecovery act bonds or p
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