N.Y. State Finance Law § 97: Housing debt fund, and urban renewal debt fund

§ 97. Housing debt fund, and urban renewal debt fund. All the moneys

repaid to the state, both principal and interest on account of

advancements made and to be made to cities, towns, villages or public

corporations specified in section two of article eighteen of the state

constitution from proceeds of state bonds sold or to be sold to provide

moneys for low rent housing or urban renewal shall, when received, be

paid into and shall constitute a special fund in the state treasury to

be known as "housing debt fund," or "urban renewal debt fund," as the

case may be. Such fund shall be available only for payment of

appropriations to pay installments of principal of and interest on such

bonds. Appropriations in any year to pay installments of principal of

and interest on any such state bonds shall first be paid from such

special fund, so far as the amount of moneys therein will pay the same,

and the remainder, if any, shall be paid from any other moneys in the

state treasury not otherwise appropriated.