There Is a Newer Version
of
the New York Laws
2021 New York Laws
ACA - Arts and Cultural Affairs
Title E - New York State Cultural Resources Act
Article 20 - New York State Cultural Resources Act
20.21 - Reserve Fund.
Universal Citation:
NY Arts & Cult Aff L § 20.21 (2021)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
§ 20.21. Reserve fund. A trust may create and establish a reserve fund to secure the bonds of a trust and may pay into such reserve fund any monies which may be made available to the trust for the purposes of such fund from any source, including without limitation tax-equivalency payments. The monies held in or credited to any such reserve fund shall be used only in accordance with the proceedings under which the bonds shall be issued or as provided by special law.
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