2052-K - Moneys of the authority.

* §  2052-k. 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  any  of  the local governments 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  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 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.    * NB There are 2 § 2052-k's