New York Laws
Title 26 - New York City Stabilization Reserve Corporation
2531 - Definitions.

§ 2531. Definitions. For the purposes of this title:

1. "City" means the city of New York.

2. "Director of management and budget" means the director of
management and budget of the city of New York.

3. "Corporation" means the New York city stabilization reserve
corporation as created by this title.

4. "Mayor" means the mayor of the city of New York.

5. "Comptroller" means the comptroller of the city of New York.

6. "State" means the state of New York.

7. "Bonds" and "notes" means revenue bonds and notes respectively,
issued by the corporation pursuant to this title.

8. "Revenues" means all aid, rents, fees, charges, payments and other
income and receipts paid or payable to the corporation or a trustee for
the account of the corporation, including any payment required to be
made to the corporation by this title.

9. "Operating expenses" means all expenses incurred by the corporation
in the administration of the corporation including but not limited to
salaries, administrative expenses, insurance premiums, auditing and
legal expenses and fees and expenses incurred for professional
consultants and fiduciaires.

10. "Capital reserve fund requirement" means as of any particular date
of computation, an amount of money equal to the amount required, for the
then current fiscal year of the corporation, to pay interest during such
fiscal year on all bonds of the corporation outstanding on said date of
computation, the principal amount of all bonds of the corporation
outstanding on said date of computation which matures during such fiscal
year and the amount of sinking fund payments payable during such fiscal
year with respect to any bonds of the corporation outstanding on said
date of computation.

11. "Sinking fund payment" means the amount of money specified in the
resolution authorizing bonds as payable into a sinking fund during a
particular fiscal year for the retirement of term bonds which mature
after such fiscal year, but shall not include any amount payable by
reason only of the maturity of the bond.