Section 54.20. Funding of capital expenditures duly appropriated in the capital budget for the city of New York.

  Subject to the provisions of the New
  York State Financial  Emergency  Act  for  The  City  of  New  York  but
  notwithstanding any other law to the contrary, to facilitate the funding
  of  capital expenditures duly appropriated in the capital budget for the
  city of New York, the finance board of  such  city  shall  establish  an
  account  or  accounts  to  receive amounts duly appropriated for capital
  purposes in the expense budget of such city.  Any  payment  pursuant  to
  such  an  expense budget appropriation shall be made prior to completion
  of the annual audit of the fiscal year in which such  appropriation  was
  made.  At  its  discretion,  the  finance board of such city shall apply
  amounts from any such account to capital expenditures duly  appropriated
  in the capital budget of such city.
    The  moneys  in any such account shall be deposited and secured in the
  manner provided by section ten of the general municipal law. The finance
  board or the chief fiscal officer of such municipality, if  the  finance
  board  shall  delegate  such  duty to him, may invest the moneys in each
  such fund in the manner  provided  in  section  eleven  of  the  general
  municipal  law.  Any  interest  earned  or capital gains realized on the
  moneys so deposited or invested shall accrue to and become part of  such
  account.  The  separate  identity  of  such account shall be maintained,
  whether its assets consist of cash or investments or both.