2006 New York Code - Moneys Of The Authority.

 
    §  1599-hh. 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 treasurer on requisition of
  the chairman of the authority or  of  such  person  or  persons  as  the
  authority  may  authorize  to  make such requisitions after audit by the
  treasurer. All deposits  of  such  moneys  shall,  if  required  by  the
  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  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 and he or his
  legally authorized representatives are hereby authorized  and  empowered
  from  time  to  time to examine the accounts and books of the authority,
  including  its  receipts,  disbursements,  contracts,   sinking   funds,
  investments  and any other matter relating to its financial standing and
  fiscal affairs. The authority shall render a complete annual account  of
  its proceedings to the board of trustees at its first meeting in January
  of each and every year.