Section 1132. Moneys of the authority  


Latest version.
  • All moneys of the authority from
      whatever source derived shall be paid to the treasurer of the  authority
      and  shall  be  deposited  forthwith  in  a  bank  or banks in the state
      designated by the board. The moneys in such accounts shall be  paid  out
      on check of the treasurer upon requisition by the board or of such other
      person  or persons as the board may authorize to make such requisitions.
      All deposits of such moneys shall  be  secured  by  obligations  of  the
      United  States or of the state or of the town 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. The authority  shall
      have  power, notwithstanding the provisions of this section, to contract
      with the holders of any bonds as to the custody,  collection,  security,
      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 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. Any  moneys  of  the
      authority  not  required  for  immediate use or disbursement may, at the
      discretion of the authority, be invested in those obligations  specified
      pursuant  to  the  provisions  of  section  ninety-eight-a  of the state
      finance law. Subject to the provisions of any contract with  bondholders
      and  with the approval of the comptroller, the authority shall prescribe
      a system of accounts.
        * NB There are 2 § 1132's