Legislation
SECTION 1020-R
Repayment of state appropriations
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 5, TITLE 1-A
* § 1020-r. 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 bonds issued by the authority pursuant to the
provisions of this title, or by the delivery of non-interest bearing
bonds of the authority to the state for all or any part of such
advances, or out of excess revenues of the authority, at such times and
on such conditions as the state and the authority mutually may agree
upon.
* NB There are 2 § 1020-r's
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 bonds issued by the authority pursuant to the
provisions of this title, or by the delivery of non-interest bearing
bonds of the authority to the state for all or any part of such
advances, or out of excess revenues of the authority, at such times and
on such conditions as the state and the authority mutually may agree
upon.
* NB There are 2 § 1020-r's