[§356D-28]  Public housing revolving fund;
housing project bond special funds.  (a)  There is established the public
housing revolving fund to be administered by the authority. Notwithstanding
section 36-21, the proceeds in the fund shall be used for long-term and other
special financings of the authority and for necessary expenses in administering
this chapter.



(b)  All moneys received and collected by the
authority, not otherwise pledged, obligated, or required by law to be placed in
any other special fund, shall be deposited into the public housing revolving
fund.



(c)  A separate special fund shall be
established for each public housing project or projects financed from the
proceeds of bonds secured under the trust indenture.  Each fund shall be designated
"housing project bond special fund" and shall bear any additional
designation as the authority deems appropriate to properly identify the fund.



(d)  Notwithstanding any other law to the
contrary, all revenues, income, and receipts derived from a public housing
project or projects financed from the proceeds of bonds or pledged to the
payment of principal of and interest and premium on bonds, shall be paid into
the housing project bond special fund established for the public housing
project or projects and applied as provided in the proceedings authorizing the
issuance of bonds. [L 2006, c 180, pt of §2]