§ 553-j. Metropolitan transportation authority capital lockbox fund.\n1. The authority shall establish a fund to be known as the metropolitan\ntransportation authority capital lockbox fund which shall be kept\nseparate from and shall not be commingled with any other monies of the\nauthority. The fund shall consist of two separate and distinct accounts:\n(i) the "2020 to 2024 capital program account" and (ii) the "2025 to\n2029 capital program account".\n (a) The 2020 to 2024 capital program account shall consist of all\nmonies received by the authority pursuant to article forty-four-C of the\nvehicle and traffic law, subdivision twelve-a of section five hundred\nfifty-three of this title, and revenues of the real estate transfer tax\ndeposited pursuant to subdivision (b) of section fourteen hundred\ntwenty-one of the tax law, and sales tax pursuant to subdivision (c) of\nsection eleven hundred forty-eight of the tax law, subparagraph (B) of\nparagraph five of subdivision (c) of section twelve hundred sixty-one of\nthe tax law, and funds appropriated from the central business district\ntrust fund established pursuant to section ninety-nine-ff of the state\nfinance law.\n (b) The 2025 to 2029 capital program account shall consist of all\nmonies deposited pursuant to subdivision four of section twelve hundred\nseventy-h of this chapter.\n 2. Monies in the 2020 to 2024 capital program account shall be\napplied, subject to agreements with bondholders and applicable federal\nlaw, to the payment of operating, administration, and other necessary\nexpenses of the authority, or to the city of New York subject to the\nmemorandum of understanding executed pursuant to subdivision two-a of\nsection seventeen hundred four of the vehicle and traffic law properly\nallocable to such program, including the planning, designing,\nconstructing, installing or maintaining of the central business district\ntolling program, including, without limitation, the central business\ndistrict tolling infrastructure, the central business district tolling\ncollection system and the central business district tolling customer\nservice center, and the costs of any metropolitan transportation\nauthority capital projects included within the 2020 to 2024 MTA capital\nprogram or any successor programs. Monies in the 2020 to 2024 capital\nprogram account may be: (a) pledged by the authority to secure and be\napplied to the payment of the bonds, notes or other obligations of the\nauthority to finance the costs of the central business district tolling\nprogram, including, without limitation, the central business district\ntolling infrastructure, the central business district tolling collection\nsystem and the central business district tolling customer service\ncenter, and the costs of any metropolitan transportation authority\ncapital projects included within the 2020 to 2024 MTA capital program or\nany successor programs, including debt service, reserve requirements, if\nany, the payment of amounts required under bond and note facilities or\nagreements related thereto, the payment of federal government loans,\nsecurity or credit arrangements or other agreements related thereto; or\n(b) used by the authority for the payment of such capital costs of the\ncentral business district tolling program and the costs of any\nmetropolitan transportation authority capital projects included within\nthe 2020 to 2024 MTA capital program or any successor programs; or (c)\ntransferred to the metropolitan transportation authority and (1) pledged\nby the metropolitan transportation authority to secure and be applied to\nthe payment of the bonds, notes or other obligations of the metropolitan\ntransportation authority to finance the costs of any metropolitan\ntransportation authority capital projects included within the 2020 to\n2024 MTA capital program or any successor programs, including debt\nservice, reserve requirements, if any, the payment of amounts required\nunder bond and note
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