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2022 New York Laws
PBA - Public Authorities
Article 5 - Public Utility Authorities
Title 11 - Metropolitan Commuter Transportation Authority
1270 - Reserve Funds and Appropriations.

Universal Citation: NY Pub Auth L § 1270 (2022)
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§ 1270. Reserve funds and appropriations. The authority may create and
  establish  one  or more reserve funds in accordance with agreements with
  bondholders, noteholders or the holders  of  other  obligations  of  the
  authority   and   may  pay  into  such  reserve  funds  (a)  any  monies
  appropriated and made available by the state for the  purposes  of  such
  funds,  (b) any proceeds of sale of notes, bonds or other obligations to
  the extent provided in the resolution of the authority  authorizing  the
  issuance  thereof,  and (c) any other monies which may be made available
  to the authority for the purpose of such funds from any other source  or
  sources.  In  lieu  thereof,  the  authority may provide for the deposit
  therein of, or substitute for moneys on deposit therein, a liquidity  or
  credit facility, surety bond or other similar agreement.

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