New York Consolidated Laws, Racing, Pari-Mutuel Wagering and Breeding Law - PML § 612. Reserve fund

a. any moneys appropriated and made available by the state for the purpose of such capital reserve fund,

b. any proceeds of sale of bonds or notes to the extent provided in the resolution or resolutions of the corporation authorizing the issuance thereof, and

c. any other moneys that may be made available to the corporation for the purpose of such capital reserve fund from any other source or sources.  All moneys held in the capital reserve fund, except as hereinafter provided, shall be used solely for the payment of the principal of bonds of the corporation, the payment of interest on such bonds, or the payment of any redemption premium required to be paid when such bonds are redeemed prior to maturity;  provided, however, that moneys in such capital reserve fund shall not be withdrawn therefrom at any time in such amount as would reduce the amount of such fund to less than the maximum amount of principal and interest maturing and becoming due in any succeeding fiscal year of the corporation on all bonds of the corporation then outstanding, except for the purpose of paying principal of and interest on such bonds of the corporation maturing and becoming due and for the payment of which other moneys of the corporation are not available.  Any income or interest earned by, or increment to, the capital reserve fund due to the investment thereof may be transferred to other funds or accounts to the extent it does not reduce the amount of the capital reserve fund below the maximum amount of principal and interest maturing and becoming due in any such succeeding fiscal year on all bonds of the corporation then outstanding.