New York Laws
Title 13-H - Eastern Rensselaer County Solid Waste Management Authority
2050-KK - Moneys of the Authority.

§ 2050-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 towns 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. 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.