N.Y. Public Authorities Law § 1203-b: Transfer of funds

§ 1203-b. Transfer of funds. The authority and its subsidiary

corporation, the Manhattan and Bronx surface transit operating

authority, may each transfer to the other from time to time such

available funds as they may jointly determine to be necessary or

desirable, including funds accepted by the authority pursuant to the

provisions of section twelve hundred nineteen-a of this title. Subject

to the rights of the holders of any outstanding bonds, notes or other

obligations of the authority, metropolitan transportation authority and

Triborough bridge and tunnel authority, and to facilitate the efficient

financial management of the authority, its subsidiary corporations,

metropolitan transportation authority and its subsidiary corporations,

and Triborough bridge and tunnel authority (the "affiliated entities"),

the authority may, and shall at the direction of metropolitan

transportation authority, transfer revenues, subsidies and other monies

or securities to one or more funds or accounts of another affiliated

entity for use by such other affiliated entity, provided at the time of

such transfer it is reasonably anticipated that the monies and

securities so transferred will be reimbursed, repaid or otherwise

provided for by the end of the next succeeding calendar year if

reimbursement or repayment is required by law or by any agreement to

which any of the affected affiliated entities is subject. Any revenues

of an affiliated entity that are transferred to another affiliated

entity, which transfer was not authorized by a provision of law other

than this section, shall be considered to be required to be repaid to

the affiliated entity which was the source of such revenues by the end

of the next succeeding calendar year following such transfer.