2473 - State aid guarantee; withholding thereof.

*  §  2473.  State aid guarantee; withholding thereof. 1. In the event  that a participating municipality fails to make its required payment, in  whole or in part, to the authority, the chairman of the authority  shall  certify to the comptroller that such municipality has failed to meet its  obligations.  Such  certificate  shall  be in such form as the authority  deems desirable, but shall include the exact amount of payment  required  to satisfy such municipality's obligation to the authority.    2.  The  comptroller,  upon  receipt  of  such  certificate  from  the  authority, shall withhold from the city, county, town or village or,  in  the event the participating municipality is a public benefit corporation  from  the city, county, town or village on whose behalf such corporation  was created, state aid payable to such city, county, town or village  to  the  extent  necessary  to  meet  the  required  amount of payments. The  comptroller shall immediately pay over to the sports  facilities  income  fund account the amount so withheld.    * NB (Disbanded March, 1980)