State Codes and Statutes
Statutes > New-york > Stf > Article-6 > 96§ 96. Grade crossing elimination debt fund. All moneys repaid to the state, both principal and interest, on account of advancements made and to be made to railroad companies and the municipalities specified in section fourteen of article seven of the state constitution from proceeds of state bonds sold or to be sold to provide moneys for elimination of railroad crossings at grade shall, when received, be paid into and shall constitute a special fund in the state treasury, to be known as "grade crossing elimination debt fund." All such moneys repaid to the state prior to April eighteenth, nineteen hundred forty, and not credited to the general fund, shall be transferred to such grade crossing elimination debt fund upon the taking effect of this act. Such fund shall be available only for payment of appropriations to pay installments of principal and interest on such bonds. Appropriations in any year to pay installments of principal of and interest on any such state bonds shall first be paid from such special fund, so far as the amount of moneys therein will pay the same, and the remainder, if any, shall be paid from any other moneys in the state treasury not otherwise appropriated.
