Section 1199-KKK. 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 board or of
  such other person or persons 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  or  of  the  county  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.