§ 1225-i. Payments to the fund. (a) To further enable the fund to
realize its public and governmental purpose the city shall, in addition
to any other financial assistance, annually pay to the fund in respect
to each city fiscal year an amount equal to the aggregate of all rentals
and other payments due and coming due to the transportation authority
from the fund for that city fiscal year pursuant to any lease or other
agreement entered into between the transportation authority and the
fund, which amount shall be payable on or before the fifteenth day of
September of such city fiscal year, provided however, that such amount
shall have been appropriated by the city to the fund or shall otherwise
have been made lawfully available for such purpose.

(b) In the event of the failure of the city to pay to the fund, on or
before such fifteenth day of September, all or part of such amount, the
fund or its designate shall forthwith make and deliver to the
comptroller of the state a certificate stating such amount and the sum,
if any, paid by the city to the fund with respect to such amount and
further stating the difference between such amount and such sum, and,
after the state comptroller shall have promptly given written notice to
the budget director, such difference shall be paid to the fund or its
designate whichever makes and delivers such certificate by the state
comptroller out of any succeeding payments of state aid apportioned to
the city as per capita aid for the support of local government pursuant
to section fifty-four of the state finance law or such other aid or
assistance payable by the state to the city and not otherwise allocated
as shall supersede or supplement such state per capita aid, including
federal moneys apportioned to the city by the state; except, however,
that prior to any deductions from any such aid or assistance, the
moneys, if any, then payable to the city university construction fund
pursuant to the provisions of the city university construction fund act
or to the New York city housing development corporation pursuant to the
New York city housing development corporation act or to the transit
authority pursuant to chapter seven of the laws of nineteen hundred
seventy-two shall be paid in full to such fund, corporation or
authority.

(c) Since the fund's continued discharge of its public and
governmental purpose to provide transit facilities is of benefit to the
city, the city shall pay, within the appropriations available therefor,
the expenses of the establishment and continued operation of the fund.

(d) The city shall have the power to enter into agreements with the
transportation authority to which the transit authority may be a party,
to pay for planning, design and feasibility studies undertaken or caused
to be undertaken by the transportation authority.

(e) Notwithstanding any other provision of law, the city shall have
the power to contract indebtedness and to issue its obligations pursuant
to the local finance law for the purpose of financing any payment
authorized or required to be made by this section. Any such payment
shall constitute an object or purpose for which the period of probable
usefulness is hereby determined to be five years.