N.Y. Rapid Transit Law § 38: Notwithstanding any other provision of law, the board of estimate or other analogous local authority of any such city is authorized to is...

§ 38. Notwithstanding any other provision of law, the board of

estimate or other analogous local authority of any such city is

authorized to issue evidences of indebtedness to be known as budget

notes in an aggregate amount not to exceed nineteen million dollars, for

the purpose of providing funds for the payment of any deficit of

revenues derived from operation of any railroad owned and operated by

such city, arising out of any adjustments in the salaries or

compensation of officers and employees of any such railroad during the

fiscal year ending on the thirtieth day of June, nineteen hundred

forty-seven. Such budget notes shall be redeemed in three equal

installments from appropriations to be included in the annual expense

budgets of such city for the fiscal years nineteen hundred

forty-seven--nineteen hundred forty-eight, nineteen hundred

forty-eight--nineteen hundred forty-nine and nineteen hundred

forty-nine--nineteen hundred fifty.