12 - Deposits of public authorities, public benefit corporations and other corporations.

§  12. Deposits of public authorities, public benefit corporations and  other corporations. In the event any public  authority,  public  benefit  corporation or such other corporation to whose governing board the mayor  of  the  city  of  New  York  appoints one or more members shall require  security from a bank or trust company for deposit of moneys,  then  such  security may include obligations of the city of New York.