Feldman v. New York City Transit Authority

The plaintiff obtained a verdict against the defendant and, in entering judgment thereon, computed the interest on the claim at the rate of 4% per annum, presumably as allowed by section 3-a of the General Municipal Law.

But the defendant in the case at bar is the New York City Transit Authority, which is organized under the Public Authorities Law and is therefore subject to the provisions of that law. Subdivision 6 of section 1212 thereof provides that “ [t] lie rate of interest to be paid by the authority * * * upon any judgment or accrued claim against the authority * * * shall not exceed…