§ 1362. Special port development and improvement powers. 1. The port
of Oswego authority shall have power to make rules and regulations for
the development, improvement, promotion, preservation and utilization of
the port improvement district and project and for the payment and
collection of fees, charges, rentals and other receipts from the port
improvement project hereinafter referred to as "port revenue." Until
such time as the state of New York is fully reimbursed by the authority
for the total amount of money advanced by the state to the authority no
rule, regulation, schedule or rate in relation to or governing port
revenue shall become effective or controlling unless approved by the
director of the budget of the state of New York.

2. All port revenue received by the authority shall be paid to the
state comptroller as agent of the authority and deposited in a separate
account or accounts to be known as the "port of Oswego 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 the payment of any
and all costs and expenditures incurred in relation to the acquisition
of property, construction, equipment, maintenance, repair and operation
of the port improvement project. The moneys of the port of Oswego fund
when made available shall be paid from such fund on the audit and
warrant of the state comptroller on vouchers approved solely by the
chairman of the authority or his duly designated officer.

3. All moneys in the port of Oswego fund in excess of the sum of three
hundred fifty thousand dollars shall on the first day of each month be
paid by the authority to the state comptroller provided, however, that
effective March thirty-one, 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 port of
Oswego 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.

4. The comptroller of the state and his legally authorized
representatives are hereby authorized and empowered from time to time to
examine the accounts and books of the authority, including its receipts,
disbursements, contracts, leases, sinking funds, investments and any
other matter relating to its financial standing and fiscal affairs.