New York Statutes
§ 1270 — Reserve funds and appropriations
New York·Law PBA Public Authorities·Title 11 Metropolitan Commuter Transportation Authority·Art. 5 Public Utility Authorities
§ 1270. Reserve funds and appropriations. The authority may create and\nestablish one or more reserve funds in accordance with agreements with\nbondholders, noteholders or the holders of other obligations of the\nauthority and may pay into such reserve funds (a) any monies\nappropriated and made available by the state for the purposes of such\nfunds, (b) any proceeds of sale of notes, bonds or other obligations to\nthe extent provided in the resolution of the authority authorizing the\nissuance thereof, and (c) any other monies which may be made available\nto the authority for the purpose of such funds from any other source or\nsources. In lieu thereof, the authority may provide for the deposit\ntherein of, or substitute for moneys on deposit therein, a liquidity or\ncredit facility, sur
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Related
Schulz v. State of New York
639 N.E.2d 1140 (New York Court of Appeals, 1994)
Schulz v. State
193 A.D.2d 171 (Appellate Division of the Supreme Court of New York, 1993)
Nearby Sections
15
§ 1200
Definitions§ 1203-A
Subsidiary corporation§ 1203-B
Transfer of funds§ 1204-A
Rapid transit noise code§ 1204-C
Receipt of line of duty pay§ 1204-D
Special powers of the authority§ 1204-F
Subway track safety§ 1205-A
Surrender of power plants§ 1206
Omnibus operations