Section 156. Moneys of the authority  


Latest version.
  • All moneys of the authority from
      whatever source derived shall be paid to the comptroller as agent of the
      authority, who shall not commingle such moneys with  any  other  moneys.
      Such  moneys  shall be deposited in a separate bank account or accounts.
      The moneys  in  such  accounts  shall  be  paid  out  on  check  of  the
      comptroller  on requisition of the president of the authority or of such
      other person or persons as the authority  may  authorize  to  make  such
      requisitions.  All  deposits  of  such  moneys shall, if required by the
      comptroller or the authority, be secured by obligations  of  the  United
      States  or of the state of New York 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. The comptroller and
      his  legally  authorized  representatives  are  hereby  authorized   and
      empowered  from  time  to  time to examine the accounts and books of the
      parkway authority, including  its  receipts,  disbursements,  contracts,
      leases, sinking funds, investments and any other matters relating to its
      financial  standing.  The authority shall have power notwithstanding the
      provisions of this section, to contract with the holders of any  of  its
      bonds as to the custody, collection, securing, investment and payment of
      any  moneys  of  the authority, or any moneys held in trust or otherwise
      for the payment of bonds or in any way to secure bonds, and to carry out
      any such contract notwithstanding that such contract may be inconsistent
      with the previous provisions of this section. Moneys held  in  trust  or
      otherwise  for  the  payment  of bonds or in any way to secure bonds and
      deposits of such moneys may be secured in the same manner as  moneys  of
      the  authority, and all banks and trust companies are authorized to give
      such security for such deposits.
        * NB (Authority abolished June 30, 1978)