District: funds of the board.

1. Notwithstanding the consolidation of the Hudson River Regulating District and the Black River Regulating District into a single district, effectuated by this title, or any other provision of title 21 of this article, moneys constituting the respective "general fund" or "debt service fund" or other fund or funds of either the Hudson River Regulating Board or District or the Black River Regulating Board or District, shall remain and be kept separate and apart and shall be applied for the cost of maintenance and operation in the area of the appropriate district and to pay the debts and obligations of the appropriate board or district, on whose account such moneys were received.

2. Notwithstanding any provision of sections 15-2137 and 15-2139 or any other provision of title 21 of this article, all moneys hereafter received by the Hudson River-Black River Regulating District and its board, as consolidated, by reason of assessments or from the sale of obligations issued or from other source, all for the purposes of the respective areas heretofore comprising the Hudson River Regulating District or the Black River Regulating District, shall be kept separate and apart and shall constitute "general funds" and "debt service funds" and other fund or funds with the same force and effect as funds heretofore constituted by the Hudson River Regulating Board or District and by the Black River Regulating Board or District and shall be applied solely for the cost of maintenance and operation in the respective areas from which the moneys were received and to pay the debts and obligations accrued or as they become due in the areas where the debts and obligations were incurred, provided, however, that the expenses of the board, as consolidated by this part, and of its officers and employees shall be paid from the appropriate "general funds" in the same proportion as moneys are annually collected from the respective areas. The provisions of section 15-2129, in so far as the same are applicable and not inconsistent herewith, shall apply as they relate to the "general fund", "debt service fund", and to the fund or funds of the district.