2012 New York Consolidated Laws
PBA - Public Authorities
Article 5 - PUBLIC UTILITY AUTHORITIES
Title 2-B - (1048-A - 1049) BUFFALO MUNICIPAL WATER FINANCE AUTHORITY
1048-R - Moneys of the authority.

 
    §  1048-r.  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 banks in the state
  designated by the authority. The moneys in such accounts shall  be  paid
  out  on  check  of the treasurer upon requisition by the chairman of the
  authority or of such other officer or  officers  as  the  authority  may
  authorize  to  make such requisitions. All deposits of such moneys shall
  be secured by obligations of or guaranteed by the United States,  or  of
  the  state  or  of  the city 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. 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.
  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 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.