N.Y. Public Authorities Law § 1155: Moneys of the authority

§ 1155. 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 a bank or banks in the state of New

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

paid out on check of the treasurer on requisition by the authority or of

such other person or persons as the authority may authorize to make such

requisitions. All deposits of such moneys shall, if required by the

comptroller or the authority, be secured by obligations of the United

States or of the state of New York or of the county of a market value

equal at all times to the amount of deposit and all banks and trust

companies are authorized to give such security for such deposits. The

auditor and his legally authorized representatives of the county of

Onondaga, and the comptroller if they so elect, are hereby 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 matters relating to its

financial standing. The authority shall have power, notwithstanding the

provisions of this section, to contract with the holders of any of its

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 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.