N.Y. General Municipal Law § 980-l: Expenditure of district funds

§ 980-l. Expenditure of district funds. (a) The proceeds of any charge

imposed pursuant to this article shall be held by the chief fiscal

officer and shall be separately accounted for in the books and records

of the municipality. None of the proceeds collected pursuant to this

article shall be used for any purposes other than those set forth in the

district plan. These funds may be paid out for district purposes in

accordance with the general procedures for payment of other municipal

expenditures.

(b) All contracts for improvements, goods or services to be provided

in the district shall be subject to all applicable provisions of the law

relating to the letting of contracts by the municipality.