MIRAND v. CITY OF NEW YORK

While General Municipal Law § 3-a provides for an interest rate not in excess of 9%, CPLR 5004 prohibits a lower rate except where authorized by statute ( Carson v New York City Health Hosps. Corp., 178 A.D.2d 265). Thus, there is no merit to defendant's contention that the rate of interest is a discretionary determination that in the instant case should take into account prevailing market rates of interest.

Concur — Rosenberger, J.P., Wallach, Rubin, Kupferman and Mazzarelli, JJ.