Notwithstanding any contrary provision of law, if the county of Putnam imposes the additional one percent rate of sales and compensating use taxes authorized by section twelve hundred ten of this article for all or any portion of the period beginning September first, two thousand seven and ending November thirtieth, two thousand twenty-seven, the county shall allocate one-ninth of the net collections from the additional one percent to the towns and villages in the county on the basis of their respective populations, determined in accordance with the latest decennial federal census. Each town and village within the county shall receive at minimum, a sum of fifty thousand dollars annually and shall use such revenue for public projects limited to local infrastructure projects and capital improvements.