§ 1270. Reserve funds and appropriations. The authority may create and\nestablish one or more reserve funds in accordance with agreements with\nbondholders, noteholders or the holders of other obligations of the\nauthority and may pay into such reserve funds (a) any monies\nappropriated and made available by the state for the purposes of such\nfunds, (b) any proceeds of sale of notes, bonds or other obligations to\nthe extent provided in the resolution of the authority authorizing the\nissuance thereof, and (c) any other monies which may be made available\nto the authority for the purpose of such funds from any other source or\nsources. In lieu thereof, the authority may provide for the deposit\ntherein of, or substitute for moneys on deposit therein, a liquidity or\ncredit facility, surety bond or other similar agreement.\n
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