9. The expenses incurred by the receiver in removing or remedying a condition pursuant to the provisions of this section shall be met from a fund to be known as the multiple dwelling section three hundred nine operating fund. Such fund shall consist of such amounts as may be appropriated by the board of estimate or other analogous appropriating body of the city. Such fund shall be maintained in a separate account by the department of real estate and expenditures therefrom may be made by the receiver to meet the costs of removing or remedying such conditions, subject to audit by the comptroller or chief fiscal officer of the city. The receiver shall repay the amounts so expended to such fund from the proceeds of any amounts recovered pursuant to the provisions of this section. In the event that the amount in such fund is insufficient for such purposes and if no appropriation or an insufficient appropriation has been made therefor, the expenses incurred by the receiver in removing or remedying such conditions may be met from the proceeds of the sale of bonds issued in accordance with the provisions of the local finance law. In the event that the amounts from time to time in such fund exceed two hundred thousand dollars ($200,000), such excess may be applied to the payment of the principal and interest due upon any bonds issued pursuant to this subdivision, or, if no such bonds are outstanding, any such excess may be transferred to the general fund of the city.