1769 - Moneys of the authority.
§ 1769. Moneys of the authority. 1. All moneys of the authority shall be paid to the treasurer of the authority, who shall not commingle such moneys with any other moneys. The moneys shall be deposited by the treasurer in a separate bank account or accounts. The moneys in the accounts shall be paid out by the treasurer in payment of the obligations of the authority according to procedures adopted by the authority. 2. All deposits of the said moneys shall be secured by obligations of the United States or of the state of a market value equal at all times to the amount of the deposit, and all banks and trust companies are authorized to give such security for the deposits. The securities shall either be deposited with the treasurer or be held by a trustee or agent satisfactory to the authority. 3. The comptroller of the state and his legally authorized representatives are authorized and empowered from time to time to examine the accounts and books of the authority, including its receipts, disbursements, contracts, investments and any other records and payments relating to its financial standing. 4. The authority shall have power to contract with any of its bondholders as to the custody, collection, securing, investment and payment of the moneys of the authority or moneys held in trust or otherwise for the payment of bonds or in any way to secure bonds, and to carry out the contract, notwithstanding that the contract 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 the deposits.