Section 1270-B. Metropolitan transportation authority Dutchess, Orange and Rockland fund

1. The authority shall create and establish a fund to  be  known as the "metropolitan transportation authority Dutchess, Orange and
  Rockland  fund"  which  shall  be  kept  separate  from and shall not be
  commingled with any other moneys of the authority. The Dutchess,  Orange
  and  Rockland  fund  shall  consist  of three separate accounts: (i) the
  "Dutchess account"; (ii) the "Orange account"; and (iii)  the  "Rockland
  account".
    2.  The  metropolitan  transportation  authority  Dutchess, Orange and
  Rockland fund shall consist  of  moneys  transferred  by  the  authority
  pursuant to subdivision four of section twelve hundred seventy-a of this
  title.
    3.  Moneys  in  the  Dutchess  account,  the  Orange  account, and the
  Rockland account shall on a quarterly basis be (i) paid to the  counties
  of  Dutchess,  Orange  and  Rockland,  respectively, for the purposes of
  providing  mass  transportation  operating  assistance,  including  debt
  service on bonds or notes issued for such purposes, or for providing the
  following  types  of  capital  projects within such county: capacity and
  infrastructure improvements to state, county, town, city, village roads,
  highways, parkways or bridges; or state,  county,  town,  city,  village
  mass  transportation  projects;  or  (ii)  transferred  to  the suburban
  transportation fund pursuant  to  a  resolution,  which  is  irrevocable
  during the term of any outstanding bonds or notes issued, adopted by the
  county  legislature of Dutchess county, the county legislature of Orange
  county or the  county  legislature  of  Rockland  county  directing  the
  authority to make all such future transfers of funds from its respective
  account to the suburban transportation fund. The first quarterly payment
  or  transfer  shall  occur  during  the quarter beginning January first,
  nineteen hundred eighty-nine.