New York Laws
Title 13-FF - Oneida-Herkimer Solid Waste Management Authority
2049-KK - Moneys of the Authority.

§ 2049-kk. 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 interest bearing accounts 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 of the counties 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
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.