* § 475. Contracts for municipal transportation infrastructure
projects. Any such contract between the commissioner and a municipality
may include such provisions as may be agreed upon by the parties
thereto, and shall include, in substance, the following:

1. an estimate of the reasonable cost of the project as determined by
the commissioner;

2. an agreement by the commissioner to pay to the municipality during
the progress of construction or following completion of construction an
amount as may be agreed upon by the parties;

3. an agreement by the municipality:

(a) to proceed expeditiously with and complete the project as approved
by the commissioner,

(b) to apply for and/or make reasonable efforts to secure federal
assistance, if any, for the project,

(c) to provide for the municipality's share of the cost of the
project, if any,

(d) to maintain the project at its own expense in accordance with the
requirements of the commissioner for the period of time corresponding to
the period of useful life for such project as determined by reference to
section sixty-one of the state finance law; and

4. a provision that, in the event that federal assistance which was
not included in the calculation of the state financial assistance
becomes available to the municipality, the amount of the state financial
assistance shall be recalculated by reducing the amount of the state
financial assistance by the amount of such federal assistance, and the
municipality shall pay to the state the amount by which the state
payment actually made exceeds the state financial assistance determined
by the recalculation, if any.

* NB Not effective due to defeat of the Transportation Bond Act of
2000