New York Laws
Title 9 - New York City Transit Authority
1203-B - Transfer of Funds.

§ 1203-b. Transfer of funds. The authority and its subsidiary
corporation, the Manhattan and Bronx surface transit operating
authority, may each transfer to the other from time to time such
available funds as they may jointly determine to be necessary or
desirable, including funds accepted by the authority pursuant to the
provisions of section twelve hundred nineteen-a of this title. Subject
to the rights of the holders of any outstanding bonds, notes or other
obligations of the authority, metropolitan transportation authority and
Triborough bridge and tunnel authority, and to facilitate the efficient
financial management of the authority, its subsidiary corporations,
metropolitan transportation authority and its subsidiary corporations,
and Triborough bridge and tunnel authority (the "affiliated entities"),
the authority may, and shall at the direction of metropolitan
transportation authority, transfer revenues, subsidies and other monies
or securities to one or more funds or accounts of another affiliated
entity for use by such other affiliated entity, provided at the time of
such transfer it is reasonably anticipated that the monies and
securities so transferred will be reimbursed, repaid or otherwise
provided for by the end of the next succeeding calendar year if
reimbursement or repayment is required by law or by any agreement to
which any of the affected affiliated entities is subject. Any revenues
of an affiliated entity that are transferred to another affiliated
entity, which transfer was not authorized by a provision of law other
than this section, shall be considered to be required to be repaid to
the affiliated entity which was the source of such revenues by the end
of the next succeeding calendar year following such transfer.

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