§ 97-f. Mental health services fund. 1. There is hereby established in
the joint custody of the comptroller and the commissioner of taxation
and finance a debt service fund to be known as the "mental health
services fund".

2. The mental health services fund shall consist of all moneys
received from the mental hygiene facilities improvement fund income
account pursuant to paragraph f of subdivision three of section nine of
the facilities development corporation act and any other moneys made
available for purposes of the fund.

3. Moneys in the mental health services fund shall be kept separate
and shall not be commingled with any other moneys in the custody of the
comptroller. All deposits of such moneys shall be secured by obligations
of the United States or of the state of market value equal at all times
to the amount of the deposit and all banks and trust companies are
authorized to give such securities for such deposits.

4. Subject to the terms of any agreement between the facilities
development corporation and the New York state medical care facilities
finance agency any moneys in the mental health services fund may be
invested by the comptroller in obligations of the United States or the
state or obligations the principal and interest of which are guaranteed
by the United States or the state.

5. The comptroller shall from time to time, but in no event later than
the fifteenth day of each month, pay over for deposit in the mental
hygiene general fund state operations account, including moneys pursuant
to subdivision eight of this section, all moneys in the mental health
services fund in excess of the amount of money required to be maintained
on deposit in the mental health services fund. Subject to subdivision
nine of this section, the amount required to be maintained in such fund
shall be (i) twenty percent of the amount of the next payment coming due
relating to the mental health services facilities improvement program
under any agreement between the facilities development corporation and
the New York state medical care facilities finance agency multiplied by
the number of months from the date of the last such payment with respect
to payments under any such agreement required to be made semi-annually,
plus (ii) those amounts specified in any such agreement with respect to
payments required to be made other than semi-annually, including for
variable rate bonds, interest rate exchange or similar agreements or
other financing arrangements permitted by law. Concurrently with the
making of any such payment, the facilities development corporation shall
deliver to the comptroller, the director of the budget and the New York
state medical care facilities finance agency a certificate stating the
aggregate amount to be maintained on deposit in the mental health
services fund to comply in full with the provisions of this subdivision.

6. To secure the payment, subject to legislative appropriation, of any
money due or to become due relating to the mental health services
facilities improvement program in any year under any lease, sublease,
loan or other financing agreement between the facilities development
corporation and the New York state medical care facilities finance
agency, or, to pay to the New York state housing finance agency for the
refunding of mental hygiene improvement bonds issued pursuant to section
forty-seven-b of the private housing finance law, as the case may be,
the comptroller and the commissioner of taxation and finance may pledge
or assign to the New York state medical care facilities finance agency,
any or all moneys in the mental health services fund established
pursuant to this section, and any and all moneys which may be received
by the commissioner of taxation and finance and the comptroller and
credited to such mental health services fund in the future, and any
right, title and interest of the commissioner of taxation and finance
and the comptroller in and to the money in or to be deposited in such
mental health services fund.

7. The moneys in the mental health services fund shall be appropriated
and paid out on audit and warrant of the comptroller on the
certification of the chairman of the facilities development corporation
or such other officer or employee or officers or employees as such
comptroller and such chairman shall authorize to make such requisitions.
Payments shall be made to the New York state medical care facilities
finance agency at least five days prior to the date such agency is
required to make any debt service, interest rate exchange or similar
agreement, or any other financing arrangement payments with respect to
mental health services facilities improvement bonds, notes or other
obligations, or at such times as the comptroller and the agency shall
determine.

8. The amount of payment on such mental health services facilities
bonds pursuant to sections ninety-two-z and ninety-two-h of this
article, shall be transferred by the state comptroller from the mental
health services fund to the mental hygiene general fund state operation
account. The accumulation of moneys pursuant to this subdivision and
subsequent transfer to the mental hygiene general fund state operation
account shall be subordinate in all respects to payments to be made to
the New York state medical care facilities finance agency and to any
pledge or assignment pursuant to subdivision six of this section.

9. In determining the amounts required to be maintained in the mental
health services fund under subdivision five of this section in each
month, the amount of receipts associated with loans, leases and other
agreements with voluntary agencies accumulated and set aside in the
mental hygiene facilities improvement fund income account under
paragraph g of subdivision three of section nine of the facilities
development corporation act shall be taken into account as a credit but
only if such crediting does not result in the amounts required to be
maintained in the mental health services fund exclusive of any credit to
be less than the amount required under subdivision five of this section
in each month.