N.Y. Arts and Cultural Affairs Law § 20.21

§ 20.21. Reserve fund. A trust may create and establish a reserve fund\nto secure the bonds of a trust and may pay into such reserve fund any\nmonies which may be made available to the trust for the purposes of such\nfund from any source, including without limitation tax-equivalency\npayments. The monies held in or credited to any such reserve fund shall\nbe used only in accordance with the proceedings under which the bonds\nshall be issued or as provided by special law.\n