N.Y. Public Authorities Law § 2052-h: Moneys of the authority

§ 2052-h. Moneys of the authority. All moneys of the authority from

whatever source derived shall be paid to the treasurer of the authority,

or to the county commissioner of finance as agent of the authority if

the board shall so determine, and shall be deposited forthwith in a bank

or banks in the state designated by the board. The moneys in such

accounts shall be paid out on check of the treasurer or county

commissioner of finance, as the case may be, upon requisition by the

board or of such other person or persons as the board may authorize to

make such requisitions. All deposits of such moneys shall be secured by

obligations of the United States or of the state or of the county or of

any other municipality within the county 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. 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. With the approval of the comptroller, the authority shall

prescribe a system of accounts.