Section 84. The United States Olympic Committee/Lake Placid Olympic Training Center Fund

1. There is hereby established in the joint custody of the
  state comptroller and commissioner of taxation  and  finance  a  special
  fund  to  be  known  as  the United States Olympic Committee/Lake Placid
  Olympic Training Center fund.
    2.  Such  fund  shall  consist  of  all  revenues  received  from  the
  implementation  of  section  six  hundred  twenty-six  of  the  tax law,
  accounted for  separately  and  from  all  of  the  moneys  credited  or
  transferred  thereto  from  any  other  fund  or source pursuant to law.
  Moneys deposited in the fund shall be held in interest bearing  accounts
  in  public  depositories  as  prescribed  by  state statutes, and may be
  invested or reinvested in such securities as are approved by  the  state
  treasurer.  Interest or other income earned on moneys deposited into the
  fund, and any moneys which moneys deposited into the fund and any moneys
  which may be appropriated or otherwise become available for the purposes
  of the fund, shall be credited to and deposited in the fund for  use  as
  set forth in this section.
    3.  Money of the fund less any administrative expenses paid, following
  appropriation by the legislation, shall be expended by the United States
  olympic committee,  solely  and  exclusively  for  the  maintenance  and
  operation  of  the  Lake Placid olympic training center.  Money shall be
  paid out of the fund, monthly on the audit  and  warrant  of  the  state
  comptroller.