New York Laws
Title 16 - Suffolk County Judicial Facilities Agency
2350-J - Moneys of the Agency.

§ 2350-j. Moneys of the agency. All moneys of the agency from whatever
source derived shall be paid to the treasurer of the agency 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 or of the state or of the county or of
any other municipality within the county 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 agency shall
have power, notwithstanding the provisions of this section, to contract
with the holders of any bonds as to the custody collection, security,
investment payment of any moneys of the agency 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 agency and all banks and trust companies are
authorized to give such security for such deposits. Any moneys of the
agency not required for immediate use or disbursement may, at the
discretion of the agency, 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 agency shall prescribe a
system of accounts.