§ 3037-A — Funding capital projects

New York § 3037-A

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 3: Municipal Assistance Corporation For the City of New York
• Art. 10: New York State Municipal Assistance Corporation Act

Text

* § 3037-a. Funding capital projects. The amounts paid to the city for\npurposes set forth in subparagraph (b) of section three thousand\nthirty-seven of this title, in addition to all other authorized amounts,\nshall include amounts required by the city (i) to fund eight hundred\nsixty-five million dollars of capital commitments to the New York city\ntransit authority in accordance with the following schedule for the\nfiscal years ending on June thirtieth in the following years: nineteen\nhundred ninety, seventy million dollars; nineteen hundred ninety-one,\nseventy million dollars; nineteen hundred ninety-two, seventy-five\nmillion dollars; nineteen hundred ninety-three, one hundred million\ndollars; nineteen hundred ninety-four, one hundred ten million dollars;\nand nineteen hundred ninety-five, four hundred forty million dollars;\nand (ii) to fund six hundred million dollars of capital commitments to\nthe New York city school construction authority in eight equal annual\ninstallments of seventy-five million dollars beginning in the fiscal\nyear ending on June thirtieth, nineteen hundred ninety. All such amounts\nshall be paid by the corporation to the city in accordance with the\nprovisions of paragraph (d) of subdivision three of section three\nthousand thirty-three of this title.\n * NB The corporation shall continue for a term ending the later of\nJuly 1, 2008 or one year after its liabilities have been fully paid and\ndischarged per § 3033 sub 1.\n