N.Y. Rapid Transit Law § 36-a: Municipal operation; deficiencies

§ 36-a. Municipal operation; deficiencies. If the board of

transportation shall undertake or engage in public or municipal

operation of any railroad pursuant to the authority of this chapter, the

city shall provide for the payment of any expenses of operation,

maintenance, interest, principal payments on indebtedness, contribution

to sinking funds, and reserves on account of depreciation, to the extent

and in the amount not provided for by the revenues derived from such

operation. For such purposes such city shall, with respect to any such

expenses heretofore or hereafter not provided for by revenues derived

from operation, use money raised by taxation. Nothing in this section

contained shall be construed to imply that the powers herein defined

have not heretofore been vested in such city by law.