N.Y. Public Authorities Law § 2569: Moneys of the corporation

§ 2569. Moneys of the corporation. All moneys of the corporation, from

whatever source derived, shall be paid to the commissioner of taxation

and finance as agent of the corporation, who shall not commingle such

moneys with any other moneys. Such moneys shall be deposited in a

separate bank account to be known as the "convention center operating

corporation fund". The moneys in such fund shall be expended for payment

of any and all costs and expenditures as required for the corporate

purposes of the corporation and authorized by appropriation or required

pursuant to repayment agreements required by section twenty-five hundred

sixty-six of this title, provided that all expenditures from such fund

shall be subject to the prior approval of the director of the budget.

The moneys in such fund when made available shall be paid out on check

of the commissioner of taxation and finance on requisition of the

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

corporation may authorize to make such requisition. All deposits of such

moneys shall, if required by the commissioner of taxation and finance or

the corporation, 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 such deposits. Any moneys of the corporation not required

for immediate use or disbursement may, at the discretion of the

corporation, be invested by the commissioner of taxation and finance in

accordance with the provisions of section ninety-eight-a of the state

finance law. The state comptroller and his legally authorized

representatives are authorized and empowered from time to time to

examine the accounts and books of the corporation, including its

receipts, disbursements, contracts, leases, investments and any other

records and papers relating to its financial standing.