There is a newer version of the New York Consolidated Laws
2006 New York Code - Investments.
§ 296. Investments. Subject to subdivision a of section two hundred ninety-three, the comptroller may invest the moneys of the general sinking fund or any additional sinking funds established pursuant to section two hundred ninety-eight in any securities in which the city is authorized to invest, including but not limited to the following securities: (1) Obligations of the city of New York; (2) Obligations of the state of New York: (3) Obligations of the United States or of any agency, subdivision, department, division or instrumentality thereof, or obligation fully guaranteed or insured as to interest and principal by an agency, subdivision, department, division or instrumentality of the United States, acting pursuant to a grant of authority from the congress of the United States; (4) Obligations of the municipal assistance corporation for the city of New York.
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