Section 1174-K. Moneys of the authority

All moneys of the authority from
  whatever source derived shall be paid to  the  treasurer  and  shall  be
  deposited  forthwith  in one or more banks and/or trust companies in the
  state designated by the authority. The moneys in such accounts shall  be
  paid  out on checks of the treasurer upon requisition by the chairperson
  of the authority or of such other officer or officers as  the  authority
  may  authorize  to  make  such requisitions. All deposits of such moneys
  shall be secured by obligations of or guaranteed by the United States of
  America or of the state 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. 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.  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. 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.