Section 1599-H. Moneys of the authority

All moneys of the authority shall
  be  paid  to  the  treasurer  of the city 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 money  in  such
  accounts  shall  be  paid  out  by  the  treasurer on requisition of the
  chairman of the authority or of such person or persons as the  authority
  may  authorize  to  make  such  requisitions after audit by and upon the
  warrant of the city comptroller. All deposits of such moneys  shall,  if
  required by the treasurer or the authority, be secured by obligations of
  the  United  States  or 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
  treasurer and his legally authorized representative are  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 records and papers 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 acquired in the same manner as
  moneys  of  the  authority,  and  all  banks  and  trust  companies  are
  authorized  to  give such security for such deposits. The account of the
  authority shall be subject to the supervision of the  state  comptroller
  and  he  or 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,  sinking
  funds,  investments  and  any  other  matter  relating  to its financial
  standing and fiscal affairs.  The  authority  shall  render  a  complete
  annual  account  of  its  proceedings to the common council at its first
  meeting in January of each and every year.
    * NB Authority terminated 07/01/1974
    * NB There are 4 § 1599-h's