New York Laws
Title 7 - Onondaga County Water Authority
1155 - Moneys of the Authority.

§ 1155. 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 of New
York designated by the authority. The moneys in such accounts shall be
paid out on check of the treasurer on requisition by the authority or of
such other person or persons as the authority may authorize to make such
requisitions. All deposits of such moneys shall, if required by the
comptroller or the authority, be secured by obligations of the United
States or of the state of New York or of the county of a market value
equal at all times to the amount of deposit and all banks and trust
companies are authorized to give such security for such deposits. The
auditor and his legally authorized representatives of the county of
Onondaga, and the comptroller if they so elect, are hereby 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 matters 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, 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 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 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.