New York Laws
Title 28-BB - Albany Convention Center Authority
2675-II - State Aid Revenues.

§ 2675-ii. State aid revenues. 1. With respect to each issue of
outstanding hotel revenue bonds, the chairperson of the authority shall
certify at least semi-annually, or in the case of the first such
certificate within thirty days after the sale of an issue of hotel
revenue bonds, to the comptroller and the director of the budget, with a
copy to the mayor, a schedule setting forth the amount of state aid
revenue payable to the city pursuant to section nineteen-a of the public
lands law, if any, necessary for payment of any amounts required to be
deposited in any debt service reserve fund with respect to such hotel
revenue bonds to make up any deficiency in such fund in accordance with
the provisions of the resolution or indenture pursuant for which such
hotel revenue bonds were issued (all such payments, "eligible
obligations").

2. The certification may be amended and, in the event of a bond sale,
shall be amended no later than thirty days after such sale. The schedule
accompanying such certification shall provide for such payment dates as
the authority deems appropriate to ensure that sufficient funds will be
available to meet its eligible obligations relating to such hotel
revenue bonds as they come due.