Section 1203-B. Transfer of funds  


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  • The  authority  and  its  subsidiary
      corporation,  the  Manhattan  and  Bronx   surface   transit   operating
      authority,  may  each  transfer  to  the  other  from  time to time such
      available funds as  they  may  jointly  determine  to  be  necessary  or
      desirable,  including  funds  accepted  by the authority pursuant to the
      provisions of section twelve hundred nineteen-a of this  title.  Subject
      to  the  rights  of the holders of any outstanding bonds, notes or other
      obligations of the authority, metropolitan transportation authority  and
      Triborough  bridge and tunnel authority, and to facilitate the efficient
      financial management of  the  authority,  its  subsidiary  corporations,
      metropolitan  transportation  authority and its subsidiary corporations,
      and Triborough bridge and tunnel authority (the "affiliated  entities"),
      the   authority   may,  and  shall  at  the  direction  of  metropolitan
      transportation authority, transfer revenues, subsidies and other  monies
      or  securities  to  one  or more funds or accounts of another affiliated
      entity for use by such other affiliated entity, provided at the time  of
      such   transfer  it  is  reasonably  anticipated  that  the  monies  and
      securities so  transferred  will  be  reimbursed,  repaid  or  otherwise
      provided  for  by  the  end  of  the  next  succeeding  calendar year if
      reimbursement or repayment is required by law or  by  any  agreement  to
      which  any  of the affected affiliated entities is subject. Any revenues
      of an affiliated entity  that  are  transferred  to  another  affiliated
      entity,  which  transfer  was not authorized by a provision of law other
      than this section, shall be considered to be required to  be  repaid  to
      the  affiliated  entity which was the source of such revenues by the end
      of the next succeeding calendar year following such transfer.