N.Y. Public Authorities Law § 1470-g: Moneys of the authority

* § 1470-g. Moneys of the authority. All moneys of the authority shall

be paid to the treasurer of the city as agent of the authority, who

shall not commingle such moneys with any other moneys. Such moneys shall

be deposited in a separate bank account or accounts. The moneys in such

accounts shall be paid out by the treasurer of the city on requisition

of the chairman of the authority or of such other person or persons as

the authority may authorize to make such requisitions after audit by the

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

Rome or the authority, be secured by obligations of the United States or

of the state of New York 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 such deposits. The treasurer of the city 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 have power, notwithstanding the provisions

of this section, to contract with the holders of any of its bonds as to

the custody, collection, securing, 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 previous 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 acquired in the same manner as moneys of

the authority, and all banks and trust companies are authorized to give

such security for such deposits. The accounts of the authority shall be

subject to the supervision of the state comptroller. The authority shall

render a complete account of its proceedings to the city at such time or

times as requested to do so by said city.

* NB City of Rome Parking Authority ceased to exist 12/31/2000 per §

1470-b, and thereafter until all liabilities have been met/discharged,

and all bonds paid/discharged