NY State Fin L § 92-AA (2021)
2021 New York Laws STF - State Finance Article 6 - Funds of the State 92-AA - Special School Purpose School Aid.

§  92-aa.  Special  school  purpose  school  aid.  1. School aid shall   consist of all public funds apportioned or otherwise made payable by the   state to the school district of a special school purpose municipality as   provided for by article seventy-three of the education law.2. For purposes of  this  section,  the  terms  school  aid  revenues,   special  school  purpose  municipality, special school purpose bonds and   special school purpose school aid revenues shall have the  meanings  set   forth  in  section  two  thousand  four hundred thirty-two of the public   authorities law.3. Upon receipt by the comptroller of a  certificate  or  certificates   from  the  chairman  of the state of New York municipal bond bank agency   pursuant to section two thousand four hundred thirty-six-a of the public   authorities law, the comptroller shall pay the school  aid  revenues  to   said  agency,  in  accordance  with  such  certification  and subject to   agreements with holders of outstanding special school purpose  bonds  of   said  agency.  Any  such  payment  shall  be  made within thirty days of   receipt  of  the  certification  or  at  the  time  specified   in   the   certification,  whichever  is  later;  provided that any such school aid   revenues shall have been first appropriated by the state as  school  aid   or  shall have been otherwise made available. Any such payment of school   aid revenues to the agency shall not obligate the  state  to  make,  nor   entitle  such  special  school  purpose  municipality  to  receive,  any   additional school aid.4. Nothing contained herein shall be construed to create a debt of the   state within the meaning of any constitutional or statutory  provisions.   Any provision with respect to school aid or school aid revenues shall be   deemed executory only to the extent of moneys available and no liability   shall  be  incurred  by  the  state beyond the moneys available for that   purpose, and any such payment by the comptroller of school aid  revenues   is   subject  to  annual  appropriation  of  school  aid  by  the  state   legislature.5. Nothing contained herein shall be deemed to restrict the  right  of   the   state   to  amend,  repeal,  modify  or  otherwise  alter  article   seventy-three of the education law. The state of New York municipal bond   bank agency  shall  not  include  within  any  resolution,  contract  or   agreement  with  holders  of  its  bonds  or  notes  any provision which   provides that a default occurs as a result of the state  exercising  its   right  to amend, repeal, modify or otherwise alter article seventy-three   of the education law.6. During the period that the comptroller is required to make payments   to the state of New York municipal bond bank agency as provided in  this   section,  each special school purpose municipality that has entered into   a special school  purpose  agreement  shall  have  no  right,  title  or   interest in or to school aid revenues.7. Any school aid not required to be transferred by the comptroller to   the  state of New York municipal bond bank agency as school aid revenues   pursuant to subdivision three of this section shall  be  transferred  as   special  school  purpose  school  aid  revenue by the comptroller to the   special school purpose  municipality  pursuant  to  section  twenty-five   hundred  eighty  of  the  education law and the applicable provisions of   article seventy-three of such law.