2013 New York Consolidated Laws
PVH - Private Housing Finance
Article 3 - (40 - 62) NEW YORK STATE HOUSING FINANCE AGENCY
59 - Bond reserve insurance fund.

 
    §  59.  Bond  reserve  insurance  fund.  The  agency  shall create and
  establish a special fund, to be known as the bond reserve insurance fund
  and shall pay into such fund all monies appropriated and made  available
  by  the  state  for the purposes of such fund and any other monies which
  may be made available to the agency for the purposes of such  fund  from
  any  other  source  or  sources.    All  monies held in the bond reserve
  insurance fund shall  be  used  by  the  agency  to  meet  the  agency's
  obligation  to  repay  principal  and interest on its outstanding bonds,
  solely to the extent all other revenues of the agency available for such
  purposes are not sufficient to meet such obligations of the agency.  Any
  income or interest earned by, or increment to the bond reserve insurance
  fund may be used for authorized purposes including, but not limited  to,
  the  addition  of  such  income  or interest earned, or increment to the
  monies held in such fund  for  the  purposes  herein  provided,  or  the
  repayment of appropriation expenditures made to the credit of such fund.