2664 - Return of moneys to the county of Schenectady.

§  2664.  Return  of  moneys  to the county of Schenectady.  1. In the  event that the revenues of the authority exceed its current  liabilities  by  more  than  fifty percent at the end of its first fiscal year, or by  more than ten percent at the end of its fiscal year of each fiscal  year  after  its first fiscal year, after a lawful deposit in its reserve fund  of not less than five percent  of  its  revenues,  and  after  a  lawful  deposit  into  its  construction  and  development account in the amount  necessary to provide payment for the anticipated projects  of  the  next  fiscal   year,  then  the  authority  shall  return  to  the  county  of  Schenectady seventy-five percent of such surplus amount.    2. In the event that the revenues of the authority do not  exceed  its  current  liabilities  by more than fifty percent at the end of its first  fiscal year, or by more than ten percent at the end of its  fiscal  year  of  each fiscal year after its first fiscal year, after a lawful deposit  in its reserve fund of not less than five percent of  its  revenues  and  after  a lawful deposit into its construction and development account in  the amount necessary to provide payment for the anticipated projects  of  the next fiscal year, or that sufficient funds are not available for the  authority  to make a lawful deposit in its reserve fund of not less than  five percent of its revenues, and a lawful deposit into its construction  and development account, then the authority shall  not  be  required  to  return any funds to the county of Schenectady for that fiscal year.    3.  The  authority  shall  not  return  any  funds  to  the  county of  Schenectady that have been received by the authority from sources  other  than the dedicated one-half of one percent of the sales tax.