2006 New York Code - Moneys Of The Authority.

 
    §  1595-h.  Moneys of the authority. All moneys of the authority shall
  be paid to the treasurer of the village as agent of the  authority,  who
  shall  not  commingle  such  moneys with any other moneys.   Such moneys
  shall be deposited in a separate bank account or accounts.   The  moneys
  in  such  accounts  shall  be  paid  out  by  the  village  treasurer on
  requisition of the chairman of the authority or of such other person  or
  persons  as  the  authority may authorize to make such requsitions after
  audit by the village treasurer. All deposits of such  moneys  shall,  if
  required  by  the  village  treasurer  or  the  authority, be secured by
  obligations of the United States or of the state of New York of a market
  value equal at all times to the amount of the deposit, and all banks and
  trust companies are authorized to give such security for such  deposits.
  The  village  treasurer  and  his legally authorized representatives are
  authorized and empowered from time to time to examine the  accounts  and
  books   of   the   authority,  including  its  receipts,  disbursements,
  contracts, leases, sinking funds, investments and any other records  and
  papers  relating  to  its financial standing.   The authority 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 authority or any moneys held
  in  trust  or otherwise for the payment of bonds or 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. 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 acquired
  in the same manner as moneys of the authority, and all banks  and  trust
  companies are authorized to give such security for such deposits.
    The  accounts  of the authority shall be subject to the supervision of
  the state comptroller.