New York Laws
Title 13-F - Town of North Hempstead Solid Waste Management Authority
2049-K - Moneys of the Authority.

§ 2049-k. 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 governing body. The moneys in such accounts shall be
paid out on check of the treasurer upon requisition by the governing
body or of such other person or persons as the governing body may
authorize to make such requisitions. All deposits of such moneys shall
be secured by obligations of the United States, the state or the town 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, and to 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. Any moneys of the authority not required for immediate
use or disbursement may, at the discretion of the authority, be invested
in those obligations specified pursuant to the provisions of section
ninety-eight-a of the state finance law. Subject to the provisions of
any contract with bondholders and with the approval of the comptroller,
the authority shall prescribe a system of accounts.