New York § 407 - 407Lien of bonds
Full text of New York New York Consolidated Laws § 407 — 407Lien of bonds, with citation guidance and answers to common questions.
§ 407. 407Lien of bonds
§ 407. Lien of bonds. If bonds are issued to carry out any of the purposes of this article, bonds of the same issue shall, subject to the prior and superior rights of outstanding bonds, claims or obligations, have a prior and paramount lien on the revenue of the undertaking for which said bonds have been issued over and ahead of all bonds of any issue payable from said revenue which may be subsequently issued and over and ahead of any claims or obligations against said revenue subsequently incurred. All bonds of the same issue shall be equally and ratably secured without priority by reason of number, date of bonds, of sale, of execution or of delivery, by a lien on said revenue in accordance with the provisions of this article and the resolution or resolutions authorizing said bonds.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 407
What does New York Consolidated Laws § 407 cover?
Section 407 ("407Lien of bonds") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 407?
A common citation format is "New York Consolidated Laws § 407" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 407 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.