N.Y. Public Lands Law § 59-a: Disposition of proceeds

§ 59-a. Disposition of proceeds. The proceeds from a sale or grant of

such lands shall be applied first to repay any expenditures made by the

office of general services from moneys appropriated to said office in

the first instance for the administration, management, utilization and

disposal of real property of the state and any rights or interests

therein and any balance of such moneys remaining after repayment of the

first instance expenditures shall be applied to the cost of the

improvement which renders such lands no longer necessary, and the

expenses incurred by the attorney general for searches and examination

of the title to such lands shall be deemed an item of the cost of

improvement. Any surplus from the sale of abandoned lands above the

cost of the entire improvement shall be applied to the sinking fund for

the payment of the improvement bonds.