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and Title 31, sections 813 and 815; all proceeds of bonds required | | to be deposited in the debt service fund by terms of any contract | | between the bank and its bondholders or any resolution of the bank | | with respect to the proceeds of bonds, any other money or funds of | | the bank that it determines to deposit in the debt service fund and | | any other money or funds transferred and made available to the bank | | only for the purposes of the debt service fund from any other | | source or sources. Money in the debt service fund must be held and | | applied solely to the payment of the interest on and principal of | | bonds secured by the debt service fund as they become due and | | payable and for the retirement of bonds, including the payment of | | any redemption premium required to be paid when any bonds are | | redeemed or retired before maturity or, in accordance with the | | resolution authorizing the issuance of the bonds, for the payment | | of ancillary obligations; except that, in each month, to the extent | | there is money or funds therein not needed in accordance with the | | resolution, and subject in all respects to the provisions of the | | resolution, the bank shall withdraw any excess money or funds and | | transfer it to accounts identified by the State Controller. |
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| | | 6.__Capital reserve fund.__Pursuant to this chapter, a capital | | reserve fund, upon the adoption of a resolution authorizing the | | issuance of pension cost reduction bonds, must be created | | pursuant to section 6006, subsection 1-A with the same effect as | | provided in section 6006 as if set forth fully in this | | subsection, including the provisions respecting the restoration | | of the capital reserve fund, except that, in lieu of investments | | prescribed in section 6006, subsection 3, the bank may provide | | for a surety on such terms and conditions as prescribed by the | | resolution establishing the capital reserve fund. |
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| | | 7.__Transfer of funds.__So long as there are any pension cost | | reduction bonds issued by the bank outstanding, as defined by and | | under its resolution, and subject to appropriation, if any, | | required by law, for payment and transfer to the Pension Cost | | Reduction Debt Service Fund established pursuant to subsection 5 | | the State Controller shall transfer immediately all sums | | deposited into accounts authorized by Title 8, section 386; Title | | 8, section 1036, subsection 2, paragraphs B, C, D, H and I; Title | | 10, sections 1527-B and 1527-D; Title 13-B, sections 1402-A and | | 1405; Title 13-C, sections 124 and 143; Title 31, sections 414 | | and 416; Title 31, sections 613 and 615; and Title 31, sections | | 813 and 815, less costs of administering the programs funded by | | these accounts, including prizes. |
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| | | 8.__Corporate powers.__In addition to all other powers granted | | to the bank, for carrying out the purposes of this subchapter, | | the bank may: |
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