92-E - Municipal Assistance State Aid Fund.

NY State Fin L § 92-E (2019) (N/A)
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(b) Notwithstanding anything in this section to the contrary, amounts in the special account established within the municipal assistance state aid fund for the municipal assistance corporation for the city of Troy, which amounts have been deposited into such special account pursuant to section twenty of a chapter of the laws of nineteen hundred ninety-six entitled "AN ACT to amend chapter 721 of the laws of 1994 authorizing the city of Troy to issue serial bonds for the purpose of liquidating cumulative and projected deficits in the city's general fund, establishing a supervisory board, and establishing a debt service fund, in relation to granting a lien to the county of Rensselaer relating to certain taxes collected on behalf of such county by the city of Troy" which chapter added this paragraph (b), shall be paid by the comptroller in accordance with this paragraph. No portion of such amounts shall be paid by the comptroller to meet the requirements of such corporation for the payment of debt service as certified to the comptroller and the governor pursuant to section three thousand fifty-six of the public authorities law unless at the time of such payment no other moneys are available for payment to such corporation for said purpose from such special account or from the special account established for such corporation within the municipal assistance tax fund in accordance with subdivision one of section ninety-two-d of this article. Any portion of such amount not required by such corporation for the payment of its debt service during the state fiscal year for which such amount has been appropriated shall be refunded to the general fund of the state of New York prior to the end of such fiscal year. 6. All payments of moneys from the municipal assistance state aid fund shall be made on the audit and warrant of the state comptroller.