New York Laws
Title 26 - New York City Stabilization Reserve Corporation
2537 - Reserve Fund and Appropriations.

(b) In computing the amount of the capital reserve fund for the
purposes of this section, securities in which all or a portion of such
fund shall be invested shall be valued at par or if purchased at less
than par at their cost to the corporation.
(c) To assure the continued operation and solvency of the corporation
for the carrying out of its corporate purpose, provision is made in
paragraph (a) of this subdivision for the accumulation in the capital
reserve fund of an amount equal to the capital reserve fund requirement.
In order further to assure such maintenance of the capital reserve fund,
there shall be paid by the city to the corporation for deposit in the
capital reserve fund on or before the first day of December, in each
year, such amount, if any, needed for the purpose of maintaining the
capital reserve fund at the capital reserve fund requirement as shall be
certified by the chairman of the corporation to the mayor and the
director of management and budget on or before the fifteenth day of
February next preceding; provided that any such amount shall have been
first appropriated by or on behalf of the city for such purpose or shall
have been otherwise made available.
2. The corporation may create and establish such other fund or funds
as may be necessary or desirable for its corporate purpose.