2006 New York Code - Moneys Of The Authority.

 
    §  2078. Moneys of the authority. All moneys of the authority shall be
  paid to the comptroller of  the  city  of  Peekskill  as  agent  of  the
  authority,  who shall designate depositories and who shall not commingle
  such moneys with any other moneys. The moneys shall be  deposited  in  a
  separate  bank account or accounts. The moneys in such accounts shall be
  paid out on checks of the comptroller on requisition of the chairman  of
  the  authority  or  of such other person or persons as the authority may
  authorize upon proper audit of the city of Peekskill.
    All deposits of such moneys shall, if required by the comptroller,  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
  the deposits.
    The   city   of  Peekskill  comptroller  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 and the 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.