[§201H-80]  Housing finance revolving fund;bond special funds.  (a)  There is created a housing finance revolving fundto be administered by the corporation.  Notwithstanding sections 36-21 and201H-191, the proceeds in the fund shall be used for long-term and otherspecial financings of the corporation and for the necessary expenses inadministering this part.

(b)  All moneys received and collected by thecorporation, not otherwise pledged or obligated nor required by law to beplaced in any other special fund, shall be deposited in the housing financerevolving fund.

(c)  A separate special fund shall beestablished for each housing project or system of housing projects or loanprogram financed from the proceeds of bonds secured under the same trust indenture. Each fund shall be designated "housing project bond special fund" or"housing loan program revenue bond special fund", as appropriate, andshall bear any additional designation as the corporation deems appropriate toproperly identify the fund.

(d)  Notwithstanding any other law to thecontrary, all revenues, income, and receipts derived from a housing project orsystem of projects or loan program financed from the proceeds of bonds orpledged to the payment of the principal of and interest and premium on bonds,shall be paid into the housing project bond special fund or housing loanprogram revenue bond special fund established for the housing project or systemof projects or loan program and applied as provided in the proceedingsauthorizing the issuance of the bonds. [L 2006, c 180, pt of §4]

 

Note

 

  Transfer of certain interest earnings to general fund untilJune 30, 2015.  L 2009, c 79, §30(a)(12).