State of New York - Park System Bond
Inv# GB5108 Bond
Various Denominations. Ornate and attractive!!
Albany is the capital of the U.S. state of New York and the seat and largest city of Albany County. Albany is located on the west bank of the Hudson River approximately 10 miles (16 km) south of its confluence with the Mohawk River and approximately 135 miles (220 km) north of New York City.
Albany is known for its rich history, commerce, culture, architecture, and institutions of higher education. Albany constitutes the economic and cultural core of the Capital District of New York State, which comprises the Albany–Schenectady–Troy, NY Metropolitan Statistical Area, including the nearby cities and suburbs of Troy, Schenectady, and Saratoga Springs. With a 2013 Census-estimated population of 1.1 million the Capital District is the third-most populous metropolitan region in the state. As of the 2010 census, the population of Albany was 97,856.
The area that later became Albany was settled by Dutch colonists who, in 1614, built Fort Nassau for fur trading and, in 1624, built Fort Orange. In 1664, the English took over the Dutch settlements, renaming the city as Albany, in honor of the then Duke of Albany, the future James II of England and James VII of Scotland. The city was officially chartered in 1686 under English rule. It became the capital of New York in 1797 following formation of the United States. Albany is one of the oldest surviving settlements of the original British thirteen colonies, and is the longest continuously chartered city in the United States.
During the late 18th century and throughout most of the 19th, Albany was a center of trade and transportation. The city lies toward the north end of the navigable Hudson River, was the original eastern terminus of the Erie Canal connecting to the Great Lakes, and was home to some of the earliest railroad systems in the world. In the 1920s, a powerful political machine controlled by the Democratic Party arose in Albany. In the latter part of the 20th century, Albany experienced a decline in its population due to urban sprawl and suburbanization; however, the New York State Legislature approved a $234 million building and renovation plan for the City in the 1990s that spurred renovation and building projects around the downtown area. In the early 21st century, Albany has experienced growth in the high-technology industry, with great strides in the nanotechnology sector.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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