ยง 2642-l. Monies of the authority. All monies of the authority from
whatever source derived shall be paid to the treasurer of the authority
and shall be deposited forthwith in an interest-bearing account in a
bank or banks designated by the authority. The monies in such accounts
shall be paid out or withdrawn on the order of such person or persons as
the authority may authorize to make such requisitions. All deposits of
such monies shall be secured by obligations of the United States or of
the state or of any municipality 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. To the extent practicable,
consistent with the cash requirements of the authority, all such monies
shall be deposited in interest-bearing accounts. Any monies of the
authority not required for immediate use or disbursement may, be
invested in accordance with section ninety-eight or ninety-eight-a of
the state finance law.
Structure New York Laws
Article 8 - Miscellaneous Authorities
2642-A - Legislative Findings and Intent.
2642-C - Chautauqua, Cattaraugus, Allegany and Steuben Southern Tier Extension Railroad Authority.
2642-D - Purposes of the Authority.
2642-E - General Powers of the Authority.
2642-F - Special Powers of the Authority.
2642-G - Cooperation and Assistance of Other Agencies.
2642-H - Exemption From Taxation.
2642-J - New York State and Local Employees' Retirement System Rights of Employees; Civil Service.
2642-K - Equal Employment Opportunity.
2642-L - Monies of the Authority.
2642-N - Annual Report and Audit.
2642-O - Defense and Indemnification.
2642-P - Action by or Against the Authority.
2642-Q - Track, Bridge, Signal, Station and Other Facility Operation and Maintenance.
2642-R - State, Participating Counties, and Municipalities Not Liable for Obligations of Authority.