Section 205. 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
      authority, including its  receipts,  disbursements,  contracts,  leases,
      sinking  funds,  investments  and  any  other  matters  relating  to its
      financial standing. This section shall not be construed as limiting  the
      power  of  the  authority  to agree as to the custody and disposition of
      moneys or fees and revenues for the security of its bonds.
        * NB (Abolished in 1975)