New York Laws
Title 3 - Jones Beach State Parkway Authority
156 - Moneys of the Authority.

* § 156. Moneys of the authority. All moneys of the authority from
whatever source derived shall be paid to the comptroller 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 on check of the
comptroller on requisition of the president of 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 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 comptroller and
his legally authorized representatives are hereby authorized and
empowered from time to time to examine the accounts and books of the
parkway 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, 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.

* NB (Authority abolished June 30, 1978)

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