N.Y. Public Authorities Law § 580: Moneys of the authority

§ 580. Moneys of the authority. Subject to the provisions of any

agreement with the holders of any bonds or notes of the authority which

may provide otherwise, and except as otherwise provided or authorized

herein, all moneys of the authority from whatever source derived shall

be paid to the treasurer and shall be deposited forthwith in a bank or

banks designated by the authority. The moneys in such accounts shall be

withdrawn on the order of such person or persons as the authority may

authorize. All deposits of such money shall, if required by the

authority, be secured in such manner as the authority may determine. The

treasurer of the county 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, reserves, sinking funds, investments and any other

records and papers relating to its financial standing, or to accept from

the authority, in lieu of such an examination, an external examination

of its books and accounts made at the request of the authority.

Notwithstanding the foregoing provisions of this section or any other

provision of this title to the contrary, the authority shall have the

power to contract with the holders of any of its bonds or notes as to

the custody, collection, securing, investment, and payment of any moneys

of the authority, whether held in trust or otherwise, and to carry out

such contract, and the provisions of such contract shall supersede any

provisions of this chapter which are contrary thereto or inconsistent

therewith.