2015 New York Laws
PBA - Public Authorities
Article 5 - PUBLIC UTILITY AUTHORITIES
Title 4 - (1074 - 1092) SUFFOLK COUNTY WATER AUTHORITY
1081 - Bonds as legal investments.

  1081.  Bonds  as legal investments. The bonds herein authorized are
  hereby made securities in which all public officers and bodies  of  this
  state  and  all municipalities and municipal subdivisions, all insurance
  companies and associations and other persons carrying  on  an  insurance
  business, all banks, bankers, trust companies, savings banks and savings
  associations, including savings and loan associations, building and loan
  associations,  investment  companies  and  other  persons  carrying on a
  banking  business,  and  all  other  persons   whomsoever,   except   as
  hereinafter  provided,  who  are  now  or may hereafter be authorized to
  invest in bonds or other obligations of  the  state,  may  properly  and
  legally  invest funds including capital in their control or belonging to
  them, provided that, notwithstanding the provisions of any other general
  or special law to the contrary, such bonds shall not be eligible for the
  investment  of  funds  including  capital,   of   trusts,   estates   or
  guardianships under the control of individual administrators, guardians,
  executors, trustees and other individual fiduciaries. The bonds are also
  hereby  made  securities which may be deposited with and may be received
  by all public officers and bodies of this state and  all  municipalities
  and  municipal  subdivisions  for  any  purpose for which the deposit of
  bonds or other obligations of this state is  now  or  may  hereafter  be
  authorized.