New York Laws
Title 2 - White Plains Parking Authority
1432 - Moneys of the Authority.

§ 1432. Moneys of the authority. All moneys of the authority shall be
paid to the commissioner of finance of the city as agent of the
authority, who shall not commingle such moneys with any other moneys.
Such moneys shall be deposited in a separate bank account or accounts.
The moneys in such accounts shall be paid out by the commissioner of
finance on requisition of the chairman of the authority or of such other
person or persons as the authority may authorize to make such
requisitions after audit by the commissioner of finance. All deposits of
such moneys shall, if required by the commissioner of finance or the
authority, be secured by direct or guaranteed obligations of the United
States or its agencies 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 such deposits. The
commissioner of finance 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 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.

The accounts of the authority shall be subject to the supervision of
the state comptroller.