2006 New York Code - Moneys Of The Authority.

 
    §  1948.  Moneys  of the authority.   All moneys of the authority from
  whatever source derived shall be paid to the treasurer of the  authority
  and shall be deposited forthwith in a bank or trust company in the state
  designated  by  the governing body. The moneys in such accounts shall be
  paid out on check of the treasurer upon  requisition  by  the  governing
  body  or  of  such  other  person  or  persons as the governing body may
  authorize to make such requisitions. All deposits of such  moneys  shall
  be  secured  by  obligations  of  the United States or of the state of a
  market value equal at all times to the amount on deposit and  all  banks
  and  trust  companies  are  authorized  to  give  such security for such
  deposits.  To  the  extent  practicable,  consistent   with   the   cash
  requirements  of  the  authority,  all such moneys shall be deposited in
  interest   bearing   accounts.   The   authority   shall   have   power,
  notwithstanding  the  provisions  of  this section, to contract with the
  holders of any bonds as to the custody, collection, security, 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 provisions of this section. Moneys held in trust
  or otherwise for the payment of bonds or in any way to secure  bond  and
  deposits  of  such moneys may be secured in the same manner as moneys of
  the authority and all banks and trust companies are authorized  to  give
  such  security  for  such  deposits.  Any  moneys  of  the authority not
  required for immediate use or disbursement may, at the discretion of the
  authority, be invested in those obligations specified  pursuant  to  the
  provisions  of  section ninety-eight-a of the state finance law. Subject
  to the provisions of any contract with bondholders and with the approval
  of the comptroller, the authority shall prescribe a system of accounts.