N.Y. Public Authorities Law § 3868: Bonds, notes or other obligations legal for investment and deposit

§ 3868. Bonds, notes or other obligations legal for investment and

deposit. The bonds, notes or other obligations of the authority are

hereby made securities in which all public officers and bodies of the

state and all public corporations, municipalities and municipal

subdivisions, all insurance companies and associations and other persons

carrying on an insurance business, all banks, bankers, trust companies,

savings banks and savings associations including savings and loan

associations, building and loan associations, investment companies and

other persons carrying on a banking business, all administrators,

conservators, guardians, executors, trustees and other fiduciaries, and

all other persons whatsoever who are now or may hereafter be authorized

to invest in bonds, notes or other obligations of the state, may

properly and legally invest funds, including capital, in their control

or belonging to them. The bonds, notes or other obligations are also

hereby made securities which may be deposited with and may be received

by all public officers and bodies of the state and all municipalities

and public corporations for any purpose for which the deposit of bonds,

notes or other obligations of the state is now or may hereafter be

authorized.