N.Y. Public Authorities Law § 1270-b: Metropolitan transportation authority Dutchess, Orange and Rockland fund

§ 1270-b. Metropolitan transportation authority Dutchess, Orange and

Rockland fund. 1. The authority shall create and establish a fund to be

known as the "metropolitan transportation authority Dutchess, Orange and

Rockland fund" which shall be kept separate from and shall not be

commingled with any other moneys of the authority. The Dutchess, Orange

and Rockland fund shall consist of three separate accounts: (i) the

"Dutchess account"; (ii) the "Orange account"; and (iii) the "Rockland

account".

2. The metropolitan transportation authority Dutchess, Orange and

Rockland fund shall consist of moneys transferred by the authority

pursuant to subdivision four of section twelve hundred seventy-a of this

title.

3. Moneys in the Dutchess account, the Orange account, and the

Rockland account shall on a quarterly basis be (i) paid to the counties

of Dutchess, Orange and Rockland, respectively, for the purposes of

providing mass transportation operating assistance, including debt

service on bonds or notes issued for such purposes, or for providing the

following types of capital projects within such county: capacity and

infrastructure improvements to state, county, town, city, village roads,

highways, parkways or bridges; or state, county, town, city, village

mass transportation projects; or (ii) transferred to the suburban

transportation fund pursuant to a resolution, which is irrevocable

during the term of any outstanding bonds or notes issued, adopted by the

county legislature of Dutchess county, the county legislature of Orange

county or the county legislature of Rockland county directing the

authority to make all such future transfers of funds from its respective

account to the suburban transportation fund. The first quarterly payment

or transfer shall occur during the quarter beginning January first,

nineteen hundred eighty-nine.