Section 97-EEEE. Rebuild and renew New York transportation bond fund  


Latest version.
  • 1.
      There  is  hereby  established  in  the  joint  custody  of  the   state
      comptroller  and the commissioner of taxation and finance a special fund
      to be known as the "rebuild  and  renew  New  York  transportation  bond
      fund."
        2.  The comptroller shall establish at least two separate and distinct
      accounts within the rebuild and renew New York transportation bond  fund
      as follows, which shall include the following: (a) an account containing
      all moneys received by the state from the sale of bonds and/or notes for
      uses  eligible  pursuant to subdivision a of section four of the rebuild
      and renew New York transportation bond act of two thousand five, enacted
      by a chapter of the laws of  two  thousand  five;  and  (b)  an  account
      containing  all  moneys  received  by  the  state from the sale of bonds
      and/or notes for uses eligible pursuant to subdivision b of section four
      of the rebuild and  renew  New  York  transportation  bond  act  of  two
      thousand five, enacted by a chapter of the laws of two thousand five.
        3.  Moneys in any account of this fund, following appropriation by the
      legislature and allocation by the  director  of  the  budget,  shall  be
      available   only   for   reimbursement   of   expenditures   made   from
      appropriations from the capital projects fund for  the  purpose  of  the
      rebuild and renew New York transportation bond fund, as set forth in the
      rebuild and renew New York transportation bond act of two thousand five.
        4. No moneys received by the state from the sale of bonds and/or notes
      sold  pursuant to the rebuild and renew New York transportation bond act
      of two thousand five shall be  expended  for  any  project  until  funds
      therefor  have been allocated pursuant to the provisions of this section
      and copies of the appropriate certificates of approval  filed  with  the
      chair  of  the  senate finance committee, the chair of the assembly ways
      and means committee and the state comptroller.
        * NB There are 3 § 97-eeee's