N.Y. General Municipal Law § 453: Sewer rent fund

§ 453. Sewer rent fund. Revenues derived from sewer rents, including

penalties and interest, shall be credited to a special fund, to be known

as the "sewer rent fund." Moneys in such fund shall be used in the

following order:

1. For the payment of the costs of operation, maintenance and repairs

of the sewer system or such part or parts thereof for which sewer rents

have been established and imposed.

2. For the payment of the interest on and amortization of, or payment

of, indebtedness which has been or shall be incurred for the

construction of the sewer system or such part or parts thereof for which

sewer rents have been established and imposed (other than indebtedness,

and the interest thereon, which is to be paid in the first instance from

assessments upon benefited real property).

3. For the construction of sewage treatment and disposal works with

necessary appurtenances including pumping stations, or for the

extension, enlargement, or replacement of, or additions to, such sewer

systems, or part or parts thereof.

Such revenues from sewer rents shall not be used (1) to finance the

cost of any extension of any part of a sewer system (other than any

sewage treatment and disposal works with necessary appurtenances

including pumping stations) to serve unsewered areas if such part has

been constructed wholly or partly at the expense of real property

especially benefited, or (2) for the payment of the interest on, and the

amortization of, or payment of, indebtedness which is to be paid in the

first instance from assessments upon benefited real property.