New York Laws
Sub Title 1 - Subtitle I General Provisions
1810 - Moneys of the Authority.

§ 1810. Moneys of the authority. 1. All moneys of the authority, from
whatever source derived, shall be paid to the commissioner of taxation
and finance 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 checks signed by the commissioner of taxation and finance on
requisition of the president of the authority or of such other officer
or employee or officers or employees of the authority as the authority
shall authorize to make such requisition. All deposits of such moneys
shall, if required by the commissioner of taxation and finance or the
authority, be secured by obligations of the United States of America or
of the state 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.

2. Notwithstanding the provisions of subdivision one of this section,
the authority shall have power, subject to the approval of the
commissioner of taxation and finance, to contract with the holders of
any of its bonds or notes, as to the custody, collection, securing,
investment and payment of any moneys of the authority, or of any moneys
held in trust or otherwise for the payment of bonds or notes, and to
carry out such contracts. Moneys held in trust or otherwise for the
payment of bonds or notes or in any way to secure bonds or notes 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.

3. Any moneys of the authority not required for immediate use or
disbursement may, at the discretion of the authority, be invested by the
commissioner of taxation and finance in accordance with all of the
otherwise consistent provisions of section ninety-eight-a of the state
finance law.

4. Subject to the provisions of any contract with bondholders and
noteholders and to the approval of the comptroller, the authority shall
prescribe a system of accounts.