Section 219-O. Funding

1. The cost of a service award program including,
  but not limited to, amounts necessary to fund benefits and  to  pay  for
  all  necessary  administrative  services,  shall be a charge against the
  sponsor. The governing board of the sponsor annually  shall  appropriate
  and pay to the administrator an amount sufficient to pay the cost of the
  program.  The  cost  of  the program shall be determined annually by the
  program actuary designated by the comptroller. The program actuary shall
  select  the  interest  rate,  mortality  tables  and  other  appropriate
  assumptions  and  methods to determine the cost of the program. The cost
  of the program, if any, attributable to (a) years of  ambulance  service
  rendered during the five years immediately preceding the adoption of the
  program  or  (b)  the  conversion of the program pursuant to section two
  hundred nineteen-i of this chapter, shall be paid over a period  not  to
  exceed   five   years.   The  comptroller  shall  promulgate  rules  and
  regulations prescribing the time and manner of payment of  the  cost  of
  the program.
    2.  (a)  Before  or  after  a service award program is adopted for the
  volunteer ambulance workers of an ambulance company which  contracts  to
  provide  service  to  one  or more political subdivisions other than the
  prospective or actual sponsor of the program, the  governing  boards  of
  the  sponsor  and  one  or more of such other political subdivisions may
  enter into agreements to apportion  the  cost  of  the  program  in  any
  equitable   manner   between   the  sponsor  and  such  other  political
  subdivisions.
    (b) No such agreement shall be entered into by a political subdivision
  other than the sponsor unless a resolution authorizing the agreement  is
  approved  by  the  affirmative  vote  of  at  least sixty percent of the
  governing  board  of  the  political  subdivision  and   a   proposition
  authorizing  the  agreement  or amendment is approved at a referendum of
  the electors of the political subdivision.
    (c) The proposition authorizing the agreement or  amendment  shall  be
  submitted  to  referendum  not  less  than thirty days and not more than
  ninety days after the governing board votes to authorize  the  agreement
  or amendment. Notice of the referendum shall be published at least once,
  not  less than fourteen days prior to the date of the referendum, in the
  official newspaper of the political subdivision  or,  if  the  political
  subdivision  does  not  have  an  official  newspaper,  in  one  or more
  newspapers having general circulation in the political subdivision.
    (d) Any such  agreement  shall  remain  in  effect  until  amended  or
  terminated  by  resolution and submission of a proposition to referendum
  as provided in paragraphs (b) and (c) of this subdivision, but shall  be
  suspended with respect to any such political subdivision which ceases to
  contract  with  the ambulance company or in the event the sponsor ceases
  to contract with the ambulance company.
    (e) The amount to be paid by a political subdivision  under  any  such
  contract  shall  be a charge against the political subdivision and shall
  be paid to the sponsor. The governing board of the sponsor  shall  apply
  the  amount  received  under any such contract to reduce the amount that
  would otherwise be raised for the program from the sponsor.