N.Y. Public Authorities Law § 2636: Moneys of the commission

§ 2636. Moneys of the commission. All moneys of the commission from

whatever source derived shall be paid to the treasurer and shall be

deposited forthwith in one or more banks and/or trust companies in the

state designated by the commission. The moneys in such accounts shall be

paid out on checks of the treasurer upon requisition by the chairman of

the commission or of such other officer or officers as the commission

may authorize to make such requisitions. All deposits of such moneys

shall be secured by obligations of or guaranteed by the United States of

America or of the state 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 commission not

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

commission, be invested in those obligations specified pursuant to the

provisions of section ninety-eight-a of the state finance law.