N.Y. Public Authorities Law § 1020-n: Deposit and investment of moneys of the authority

* § 1020-n. Deposit and investment of moneys of the authority. 1. All

moneys of the authority from whatever source derived, except as

otherwise authorized or provided in this title, shall be paid to the

treasurer of the authority and shall be deposited forthwith in a bank or

banks designated by the authority. The moneys in such accounts shall be

withdrawn on the order of such person or persons as the authority may

authorize. All deposits of such moneys shall be secured in accordance

with section two thousand nine hundred twenty-five of this chapter. The

state comptroller 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, leases, sinking funds, investments and any other records and

papers relating to its financial standing; the authority shall not be

required to pay a fee for any such examination.

2. The authority shall have power to contract with holders of any of

its bonds or notes, or any trustee therefor, as to the custody,

collection, securing, investment and payment of any moneys of the

authority and of any moneys held in trust or otherwise for the payment

of bonds or notes, and to carry out any such contract. Moneys held in

trust or otherwise for the payment of bonds or notes or in any way to

secure bonds or notes and deposits of such moneys shall be secured in

accordance with section two thousand nine hundred twenty-five of this

chapter, and all banks and trust companies in the state are authorized

to give such security for such deposits.

3. Subject to agreements with noteholders and bondholders or any

trustee therefor, the authority shall prescribe a uniform system of

accounts in accordance with generally accepted accounting principles.

* NB There are 2 § 1020-n's