N.Y. Gen. Mun. Law § 980-l

§ 980-l. Expenditure of district funds. (a) The proceeds of any charge\nimposed pursuant to this article shall be held by the chief fiscal\nofficer and shall be separately accounted for in the books and records\nof the municipality. None of the proceeds collected pursuant to this\narticle shall be used for any purposes other than those set forth in the\ndistrict plan. These funds may be paid out for district purposes in\naccordance with the general procedures for payment of other municipal\nexpenditures.\n (b) All contracts for improvements, goods or services to be provided\nin the district shall be subject to all applicable provisions of the law\nrelating to the letting of contracts by the municipality.\n