N.Y. Public Authorities Law § 1225-j: Federal, state and other aid

§ 1225-j. Federal, state and other aid. Subject to the provisions of

chapter ten hundred seventy-three of the laws of nineteen hundred

sixty-nine as amended by a chapter of the laws of nineteen hundred

seventy-two, in the event that the transportation authority receives

state or federal or other aid for a transit facility which defrays or

reimburses expenditures paid for by the city or the fund or made out of

the proceeds of bonds or notes of the transportation authority secured

by and payable from rental or other payments receivable from the fund,

the transportation authority shall forthwith pay over to the city the

entire amount of such aid unless a lease or other agreement between the

fund and the transportation authority shall provide otherwise.

For the purposes of any law conditioning the receipt of state aid for

a transit facility on the appropriation, payment or expenditures by the

city of a local share of the cost of such transit facility, the proceeds

of bonds or notes issued by the transportation authority and secured by

and payable from a pledge of payments or rentals receivable from the

fund pursuant to any lease or other agreement between the fund and the

transportation authority shall be counted toward the fulfillment of such

local share.