N.Y. Public Authorities Law Section 569-C
Transfer and receipt of surplus funds

Notwithstanding any provision of this title or any other provision of law, general, special or local, the authority shall, at the direction of the metropolitan transportation authority, from time to time transfer and pay over all or any part of its surplus funds to (a) metropolitan transportation authority or (b) New York city transit authority, all in accordance with the provisions of subdivision twelve of § 553 (Powers of the authority)section five hundred fifty-three of this title and the determination of the proportional allocation of such amounts of surplus funds so deposited as between the New York city transit authority and the commuter railroads operated by metropolitan transportation authority shall be governed by the provisions of § 1219-A (Transfer and receipt of surplus funds)section twelve hundred nineteen-a of this chapter and the authority may accept and use any moneys transferred and paid over to it by metropolitan transportation authority or New York city transit authority.

Source: Section 569-C — Transfer and receipt of surplus funds, https://www.­nysenate.­gov/legislation/laws/PBA/569-C (updated Sep. 22, 2014; accessed Oct. 26, 2024).

550
Short title 551
Definitions 552
Triborough bridge and tunnel authority 552‑A
Consolidation 553
Powers of the authority 553‑A
Additional powers in relation to Brooklyn Richmond project 553‑B
Additional powers and provisions in relation to convention center 553‑C
Additional powers and provisions in relation to railroad and rapid transit projects 553‑D
Special Triborough bridge and tunnel authority special obligation bonds and notes 553‑E
Laws applicable to certain activities 553‑F
Tokens 553‑G
Fire training 553‑H
Tokens 553‑I
Marine Parkway Bridge 553‑J
Additional powers and provisions in relation to central business district tolling program 553‑K
Traffic mobility review board 554
Transfer of officers and employees 555
Selection of site 556
Acquisition of lands by the city for the project 557
Grant of land by the city to the authority 557‑A
Lands, easements and rights in land 558
Consent of state 559
Construction contracts 560
Moneys of the authority 561
Bonds of the authority 562
Redemption of bonds 563
Agreement of the state 564
State and city not liable on bonds 565
Bonds legal investments for fiduciaries 566
Exemptions from taxation 566‑A
Tax contract by the state 567
Remedies of bondholders 568
Continuity of jurisdiction 569
Protection of prior bondholders 569‑A
Actions against the authority 569‑B
Restrictions on signs and billboards 569‑C
Transfer and receipt of surplus funds 569‑D
Protection of bondholders 570
Title not affected if in part unconstitutional or ineffective 571
Inconsistent provisions in other acts superseded
Green check means up to date. Up to date

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 569-C’s source at nysenate​.gov

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