US Laws, Codes, Statutes & Cases

 
    §  610.  Moneys  of  corporation.  1. The monetary transactions of the
  corporation and the keeping of its books and accounts shall be under the
  supervision of the comptroller, who shall be responsible directly to the
  board.
    2. All moneys due the city pursuant to article five-a of this  chapter
  shall be paid to the comptroller.
    3.  The  comptroller  and  his  legally  authorized representative are
  authorized to and shall from time to time but at  least  once  annually,
  examine  the  accounts  and  books  of  the  corporation,  including its
  receipts, disbursements, contracts, leases, sinking  funds,  investments
  and any other records and papers relating to its financial standing.
    4. The corporation shall have power, notwithstanding the provisions of
  this section, to contract with the holders of any of its bonds as to the
  custody,  collection,  securing, investment and payment of any moneys of
  the corporation or any moneys held in trust or otherwise for the payment
  of bonds in any way to secure bonds, and to carry out any such  contract
  notwithstanding that such contract may be inconsistent with the previous
  provisions of this section.
    5.  Moneys  held  in trust or otherwise for the payment of bonds or in
  any way to secure bonds and deposits of such moneys may  be  secured  in
  the  same  manner  as moneys of the corporation, and all banks and trust
  companies are authorized to give such security for such deposits.