New York Laws
Title 8 - Ogdensburg Bridge Authority
705 - Moneys of the Authority.

§ 705. Moneys of the authority. 1. All moneys received by the
authority from the bridge and all other moneys received from any other
source whatsoever pertaining to the operations of the authority shall be
paid to the state comptroller as agent of the authority and deposited in
a separate bank account or accounts to be known as the "Ogdensburg
bridge fund. " The moneys in such fund shall be available subject to the
approval of the director of the budget of the state of New York for
payment of any and all costs and expenditures as may be necessary for
the corporate purposes of the authority. The moneys of the Ogdensburg
bridge fund when made available shall be paid from such fund on the
audit and warrant of the comptroller on vouchers approved solely by the
chairman of the authority or his properly designated officer.

2. All moneys in such fund in excess of the sum of two hundred and
fifty thousand dollars shall on the first day of each month be paid by
the authority to the state comptroller provided, however, that effective
June thirty, nineteen hundred seventy-eight, the director of the budget
and the authority shall establish within the provisions of a written
agreement between the authority and the director providing for the
repayment to the state by the authority of state advances the maximum
amount of moneys which the authority may retain in the Ogdensburg bridge
fund. The comptroller is hereby authorized to receive from the authority
such amounts as shall be paid to the comptroller pursuant to the
provisions of this section and to credit all such amounts to the capital
construction fund. Upon certification by the state comptroller that all
moneys due the state have been paid in full, the remaining balance of
such fund shall be available to such authority and may be used by such
authority for any corporate purpose. The accounts of the authority shall
be subject to examination by the state comptroller. The state
comptroller is hereby authorized and empowered to examine the accounts
and books of the authority at such periods of time as he may deem
necessary, including its receipts, disbursements, contracts, leases and
any other matters relating to its financial standing.

3. Nothing in this section shall prevent the authority and the state
from entering into an agreement for the establishment of a revolving
fund to be used to pay part of or all of the authority's operating
expenses. This revolving fund shall be initially funded with moneys
advanced from the Ogdensburg bridge fund and shall be replenished from
time to time from such funds upon the audit and warrant of the
comptroller.