N.Y. Public Authorities Law Section 3037-A
Funding capital projects

The amounts paid to the city for purposes set forth in subparagraph (b) of § 3037 (Payments to or purchases of obligations of the city)section three thousand thirty-seven of this title, in addition to all other authorized amounts, shall include amounts required by the city (i) to fund eight hundred sixty-five million dollars of capital commitments to the New York city transit authority in accordance with the following schedule for the fiscal years ending on June thirtieth in the following years: nineteen hundred ninety, seventy million dollars; nineteen hundred ninety-one, seventy million dollars; nineteen hundred ninety-two, seventy-five million dollars; nineteen hundred ninety-three, one hundred million dollars; nineteen hundred ninety-four, one hundred ten million dollars; and nineteen hundred ninety-five, four hundred forty million dollars; and

(ii)

to fund six hundred million dollars of capital commitments to the New York city school construction authority in eight equal annual installments of seventy-five million dollars beginning in the fiscal year ending on June thirtieth, nineteen hundred ninety. All such amounts shall be paid by the corporation to the city in accordance with the provisions of paragraph (d) of subdivision three of § 3033 (Creation of the municipal assistance corporation for the city of New York)section three thousand thirty-three of this title. * NB The corporation shall continue for a term ending the later of July 1, 2008 or one year after its liabilities have been fully paid and discharged per § 3033 sub 1.

Source: Section 3037-A — Funding capital projects, https://www.­nysenate.­gov/legislation/laws/PBA/3037-A (updated Sep. 22, 2014; accessed Oct. 26, 2024).

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Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 3037-A’s source at nysenate​.gov

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