§ 17. Annual appropriation by participating employers. a. On or before
the fifteenth day of November, nineteen hundred eighty-nine and of each
succeeding calendar year, the comptroller shall determine the amount
which each participating employer is required to pay to the retirement
system to discharge its obligations thereto for the fiscal year of the
retirement system which ends on March thirty-first of nineteen hundred
ninety and of each succeeding calendar year on account of its employees
who are members of this system. The comptroller shall submit to the
fiscal officer of each such employer a statement of the amount so
payable.

This amount shall consist of the amount deemed necessary to provide
for payment in full of (i) all estimated obligations of each
participating employer for the current fiscal year of the retirement
systems and (ii) any additional obligation, plus interest on such
amount, for fiscal years preceding the current fiscal year. If as a
result of the amount determined to be paid for any fiscal year, a
participating employer overpaid its actual obligation to the retirement
system for that year, the amount to be determined by the comptroller for
the next succeeding November fifteenth shall reflect the amount of the
overpayment, plus interest as defined in section sixteen of this article
on such amount, as a reduction in the amount otherwise required to be
paid by such participating employer.

b. Each participating employer annually shall appropriate a sum
sufficient to pay such amount. In the event the comptroller's statement
is not received before annual appropriations are made by such employer,
a sum estimated by the comptroller to be sufficient for such purpose
shall be included with such annual appropriations.

c. Payment of the amount specified in the comptroller's statement
shall be made by a participating employer within seventy-eight days
after the receipt of such statement; provided, however, that in no case
shall any participating employer be required to make this payment before
February first of the calendar year next succeeding the calendar year in
which such statement is received. The comptroller is authorized to
provide for and accept pre-payment.

d. If payment of the full amount of such obligations is not made by
the date required by subdivision c of this section, interest at a rate
determined in accordance with the provisions of section sixteen of this
article shall commence to run against the unpaid balance thereof on the
first day after the date required by said subdivision c.

e. The comptroller shall have full power and authority to bring suit
in the supreme court against any participating employer to recover any
sum, payment of which is not made as herein required. While any such sum
shall remain due and unpaid he may refuse to audit any claim for funds
due to such employer from the state.