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This entry was published on 2014-09-22
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Repayment of state appropriations
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 5, TITLE 1
§ 1013. Repayment of state appropriations. All appropriations made by
the state to the authority shall be treated as advances by the state to
the authority, and shall be repaid to it without interest either out of
the proceeds of securities, or other obligations issued by the authority
for the construction of any project pursuant to the provisions of this
title, or by the delivery of non-interest bearing obligations of the
authority to the state for all or any part of such advances, or out of
excess revenues from such project subject however to any pledges of such
revenues made pursuant to any resolution or resolutions of the authority
authorizing the issuance of obligations of the authority issued prior to
nineteen hundred and sixty.