New York Laws
Title 2-B - 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.