112 - Disposition of proceeds of taxes.

§  112.  Disposition  of  proceeds  of  taxes.    Notwithstanding  the  provisions of any  general,  special  or  local  law  to  the  contrary,  revenues  heretofore or hereafter resulting from the imposition of taxes  authorized by this article for either or both of the  purposes  referred  to  in section one hundred ten of this chapter shall be deposited in the  city or village treasury and credited to a separate account. During each  fiscal year of such city or village, an amount  not  in  excess  of  the  amount  included  in  the annual budget or estimate for such fiscal year  for the purpose or purposes for which such taxes were  levied  shall  be  charged  to  such  account  and  credited  to  the  general fund for the  reduction of taxation or into the general or other  fund  available  for  current expenses of such city or village. No other payment shall be made  from such an account or accounts.