Section 2531. Definitions

For the purposes of this title:
    1. "City" means the city of New York.
    2.   "Director  of  management  and  budget"  means  the  director  of
  management and budget of the city of New York.
    3.  "Corporation"  means  the  New  York  city  stabilization  reserve
  corporation as created by this title.
    4. "Mayor" means the mayor of the city of New York.
    5. "Comptroller" means the comptroller of the city of New York.
    6. "State" means the state of New York.
    7.  "Bonds"  and  "notes"  means revenue bonds and notes respectively,
  issued by the corporation pursuant to this title.
    8. "Revenues" means all aid, rents, fees, charges, payments and  other
  income  and receipts paid or payable to the corporation or a trustee for
  the account of the corporation, including any  payment  required  to  be
  made to the corporation by this title.
    9. "Operating expenses" means all expenses incurred by the corporation
  in  the  administration  of the corporation including but not limited to
  salaries, administrative  expenses,  insurance  premiums,  auditing  and
  legal   expenses   and  fees  and  expenses  incurred  for  professional
  consultants and fiduciaires.
    10. "Capital reserve fund requirement" means as of any particular date
  of computation, an amount of money equal to the amount required, for the
  then current fiscal year of the corporation, to pay interest during such
  fiscal year on all bonds of the corporation outstanding on said date  of
  computation,  the  principal  amount  of  all  bonds  of the corporation
  outstanding on said date of computation which matures during such fiscal
  year and the amount of sinking fund payments payable during such  fiscal
  year  with  respect  to any bonds of the corporation outstanding on said
  date of computation.
    11. "Sinking fund payment" means the amount of money specified in  the
  resolution  authorizing  bonds  as  payable into a sinking fund during a
  particular fiscal year for the retirement of  term  bonds  which  mature
  after  such  fiscal  year,  but  shall not include any amount payable by
  reason only of the maturity of the bond.